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Insurance and Financial Services (As % of Service Exports, BoP) in Ukraine

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 1.05 % in 2018 in Ukraine, according to the National Central Bank / OECD. This is 2.32 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Ukraine reached an all time high of 6.59 % in 1994 and an all time low of 0.428 % in 1999. When compared to Ukraine's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Poland amounted to 2.04 %, 1.56 % in Romania and 2.84 % in Russia in 2018.

Ukraine has been ranked 113th within the group of 153 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 40 places behind the position seen 10 years ago.

Insurance and financial services cover various types of insurance provided to non-residents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and non-residents.

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