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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 1.10 % in 2018 in Ghana, according to the National Central Bank / OECD. This is 26.5 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Ghana reached an all time high of 8.39 % in 1990 and an all time low of 1.10 % in 2018. When compared to Ghana's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Benin amounted to 1.86 %, 4.85 % in Ivory Coast and 11.0 % in Togo in 2018.

Ghana has been ranked 156th 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, 61 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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