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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 2.73 % in 2020 in Macedonia, according to the National Central Bank / OECD. This is 3.50 % more 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 % in. 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 3.09 %, 12.4 % in Bulgaria, 8.89 % in Greece and 9.78 % in Kosovo in 2020.

Macedonia has been ranked 85th within the group of 96 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 50 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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