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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.81 % in 2018 in Namibia, according to the National Central Bank / OECD. This is 10.4 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Namibia reached an all time high of 14.0 % in 1997 and an all time low of 2.59 % in 2016. When compared to Namibia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Angola amounted to 7.70 %, 1.51 % in Botswana and 4.06 % in South Africa in 2018.

Namibia has been ranked 107th 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, 24 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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