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

Insurance and financial services as a percentage of service imports from the balance of payment reached 7.51 % in 2017 in Latvia, according to the National Central Bank / OECD. This is 5.11 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Latvia reached an all time high of 10.1 % in 2011 and an all time low of 2.75 % in 2006. When compared to Latvia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Belarus amounted to 6.59 %, 2.71 % in Estonia, 3.26 % in Lithuania and 3.88 % in Russia in 2017.

Latvia has been ranked 60th 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, 55 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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