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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.90 % in 2020 in Hungary, according to the National Central Bank / OECD. This is 8.83 % 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 % in. 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 6.35 %, 6.06 % in Czech Republic, 5.18 % in Poland and 4.21 % in Slovakia in 2020.

Hungary has been ranked 76th within the group of 96 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 38 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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