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

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.65 % in 2017 in Kuwait, according to the National Central Bank / OECD. This is 32.6 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Kuwait reached an all time high of 7.79 % in 2010 and an all time low of 0.603 % in 1980. When compared to Kuwait's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Bahrain amounted to 51.7 %, 15.5 % in Iraq and 3.86 % in Saudi Arabia in 2017.

Kuwait has been ranked 81st 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, 70 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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