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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 19.5 % in 2017 in Libya, according to the National Central Bank / OECD. This is 14.9 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Libya reached an all time high of 37.6 % in 2015 and an all time low of % in. When compared to Libya's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Algeria amounted to 2.72 %, 10.0 % in Egypt and 8.15 % in Tunisia in 2017.

Libya has been ranked 9th within the group of 161 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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