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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.50 % in 2018 in Lithuania, according to the National Central Bank / OECD. This is 24.0 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Lithuania reached an all time high of 4.09 % in 2002 and an all time low of 0.061 % in 1994. When compared to Lithuania's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Belarus amounted to 5.65 %, 2.16 % in Estonia, 5.28 % in Latvia and 3.00 % in Russia in 2018.

Lithuania has been ranked 118th 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, 9 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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