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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 1.47 % in 2018 in Brunei, according to the National Central Bank / OECD. This is 85.7 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Brunei reached an all time high of 3.49 % in 2017 and an all time low of 0.697 % in 2015. When compared to Brunei's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Indonesia amounted to 4.90 %, 6.92 % in Malaysia and 7.58 % in Philippines in 2018.

Brunei has been ranked 151st 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, 2 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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