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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 13.5 % in 2018 in Dominican Republic, according to the National Central Bank / OECD. This is 15.0 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Dominican Republic reached an all time high of 21.5 % in 2011 and an all time low of 3.25 % in 1969. When compared to Dominican Republic's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Jamaica amounted to 7.01 %, 21.8 % in Mexico and 14.8 % in USA in 2018.

Dominican Republic has been ranked 20th 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, 46 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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