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

Insurance and financial services as a percentage of service imports from the balance of payment reached 18.0 % in 2017 in Ecuador, according to the National Central Bank / OECD. This is 17.5 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Ecuador reached an all time high of 21.9 % in 2016 and an all time low of 0.955 % in 1998. When compared to Ecuador's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Brazil amounted to 3.02 %, 16.6 % in Colombia, 15.8 % in Panama and 12.5 % in Peru in 2017.

Ecuador has been ranked 9th 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, 72 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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