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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 9.57 % in 2018 in Malawi, according to the National Central Bank / OECD. This is 1.30 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Malawi reached an all time high of 13.0 % in 2012 and an all time low of % in. When compared to Malawi's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Mozambique amounted to 5.84 %, 4.06 % in South Africa, 4.09 % in Tanzania and 8.57 % in Zambia in 2018.

Malawi has been ranked 44th within the group of 160 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 82 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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