Insurance and Financial Services (As % of Service Imports, BoP) in Armenia

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.54 % in 2017 in Armenia, according to the National Central Bank / OECD. This is 3.52 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Armenia reached an all time high of 8.15 % in 1993 and an all time low of 0.000 % in 1990. When compared to Armenia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Azerbaijan amounted to 2.02 %, 7.21 % in Georgia and 13.5 % in Turkey in 2017.

Armenia has been ranked 109th within the group of 155 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 21 places behind the position seen 10 years ago.

Insurance and financial services (% of service imports, BoP) cover various types of insurance provided to residents by non-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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