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

Insurance and financial services as a percentage of service imports from the balance of payment reached 6.59 % in 2016 in India, according to the National Central Bank / OECD. This is 4.7 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in India reached an all time high of 12.9 % in 2001 and an all time low of 3.56 % in 1999. When compared to India's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Bangladesh amounted to 11.5 %, 3.38 % in China, 5.27 % in Pakistan and 11.6 % in Sri Lanka in 2016.

India has been ranked 77th within the group of 160 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 22 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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