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

Insurance and financial services as a percentage of service imports from the balance of payment reached 2.02 % in 2017 in Azerbaijan, according to the National Central Bank / OECD. This is 16.7 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Azerbaijan reached an all time high of 5.56 % in 2007 and an all time low of 0.735 % in 1996. When compared to Azerbaijan'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 3.88 % in Russia in 2017.

Azerbaijan has been ranked 144th 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, 61 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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