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

Insurance and financial services as a percentage of service imports from the balance of payment reached 15.5 % in 2017 in Iraq, according to the National Central Bank / OECD. This is 1.21 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Iraq reached an all time high of 29.2 % in 2009 and an all time low of 15.4 % in 2016. When compared to Iraq's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Kuwait amounted to 5.65 % and 3.86 % in Saudi Arabia in 2017.

Iraq has been ranked 17th 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, 12 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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