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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 1.47 % in 2018 in Montenegro, 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 Montenegro reached an all time high of 7.33 % in 2007 and an all time low of 1.18 % in 2017. When compared to Montenegro's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Albania amounted to 2.62 %, 9.63 % in Bosnia and Herzegovina, 8.77 % in Croatia and 2.52 % in Serbia in 2018.

Montenegro has been ranked 149th 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, 38 places behind 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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