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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 8.48 % in 2018 in Bahamas, according to the National Central Bank / OECD. This is 7.84 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Bahamas reached an all time high of 14.4 % in 2011 and an all time low of 1.24 % in 1982. When compared to Bahamas's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Dominican Republic amounted to 13.5 %, 0.519 % in Haiti and 14.8 % in USA in 2018.

Bahamas has been ranked 53rd within the group of 158 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 11 places above 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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