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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 6.89 % in 2019 in Malaysia, according to the National Central Bank / OECD. This is 20.0 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Malaysia reached an all time high of 8.62 % in 2020 and an all time low of % in. When compared to Malaysia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Cambodia amounted to 5.26 %, 6.12 % in Singapore and 6.27 % in Thailand in 2019.

Malaysia has been ranked 63rd 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, 56 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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