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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 1.99 % in 2019 in Madagascar, according to the National Central Bank / OECD. This is 20.9 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Madagascar reached an all time high of 5.04 % in 1977 and an all time low of % in. When compared to Madagascar's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Mozambique amounted to 15.5 %, 3.98 % in South Africa, 1.44 % in Swaziland and 4.50 % in Tanzania in 2019.

Madagascar has been ranked 134th within the group of 151 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 23 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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