Insurance and financial services as a percentage of service imports from the balance of payment reached 5.19 % in 2018 in Maldives, according to the National Central Bank / OECD. This is 7.41 % more than in the previous year.
Historically, insurance and financial services as a percentage of service imports from the balance of payment in Maldives reached an all time high of 10.0 % in 1977 and an all time low of 0.070 % in 1980. When compared to Maldives's main peers, insurance and financial services as a percentage of service imports from the balance of payment in India amounted to 4.51 %, 4.90 % in Indonesia, 5.79 % in Singapore and 11.8 % in Sri Lanka in 2018.
Maldives has been ranked 89th within the group of 158 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 28 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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