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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.58 % in 2018 in Hungary, according to the National Central Bank / OECD. This is 12.9 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Hungary reached an all time high of 8.69 % in 1998 and an all time low of 0.510 % in 1992. When compared to Hungary's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Austria amounted to 5.30 %, 4.41 % in Czech Republic, 4.09 % in Poland and 3.54 % in Slovakia in 2018.

Hungary has been ranked 114th 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, 14 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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