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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 16.8 % in 2018 in Macao, according to the National Central Bank / OECD. This is 22.4 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Macao reached an all time high of 21.7 % in 2019 and an all time low of 11.1 % in 2009. When compared to Macao's main peers, insurance and financial services as a percentage of service imports from the balance of payment in China amounted to 2.59 %, 9.44 % in Hong Kong and 5.79 % in Singapore in 2018.

Macao has been ranked 12th 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, 4 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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