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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.88 % in 2018 in East Timor, according to the National Central Bank / OECD. This is 1.47 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in East Timor reached an all time high of 6.20 % in 2017 and an all time low of 1.03 % in 2010. When compared to East Timor's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Australia amounted to 3.54 %, 4.90 % in Indonesia, 6.92 % in Malaysia and 5.67 % in Papua New Guinea in 2018.

East Timor has been ranked 77th 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, 20 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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