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

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.39 % in 2017 in Macedonia, according to the National Central Bank / OECD. This is 6.75 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Macedonia reached an all time high of 20.1 % in 1996 and an all time low of 1.44 % in 2008. When compared to Macedonia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Albania amounted to 2.37 %, 4.20 % in Bulgaria, 8.16 % in Greece and 8.83 % in Kosovo in 2017.

Macedonia has been ranked 114th 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, 36 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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