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

Insurance and financial services as a percentage of service imports from the balance of payment reached 12.8 % in 2017 in Guinea, according to the National Central Bank / OECD. This is 56.2 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Guinea reached an all time high of 18.8 % in 2015 and an all time low of 1.84 % in 1999. When compared to Guinea's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Liberia amounted to 15.3 %, 2.83 % in Mali, 9.25 % in Senegal and 8.49 % in Sierra Leone in 2017.

Guinea has been ranked 23rd 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, 76 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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