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

Source: World Bank
Last Updated: May 1, 2021

Insurance and financial services as a percentage of service exports from the balance of payment reached 27.0 % in 2018 in United Kingdom, according to the National Central Bank / OECD. This is 5.94 % more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in United Kingdom reached an all time high of 35.0 % in 2007 and an all time low of 14.0 % in 1989. When compared to United Kingdom's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Belgium amounted to 8.79 %, 7.95 % in France, 10.8 % in Germany and 13.2 % in Ireland in 2018.

United Kingdom has been ranked 7th 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, 3 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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