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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.55 % in 2019 in Laos, according to the National Central Bank / OECD. This is 22.2 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Laos reached an all time high of 10.5 % in 2008 and an all time low of % in. When compared to Laos's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Cambodia amounted to 5.26 %, 2.66 % in China and 6.27 % in Thailand in 2019.

Laos has been ranked 108th within the group of 151 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 51 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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