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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 7.01 % in 2018 in Jamaica, according to the National Central Bank / OECD. This is 5.43 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Jamaica reached an all time high of 16.0 % in 1977 and an all time low of 4.51 % in 1999. When compared to Jamaica's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Dominican Republic amounted to 13.5 % and 0.519 % in Haiti in 2018.

Jamaica has been ranked 64th 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, 29 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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