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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.61 % in 2018 in Nepal, according to the National Central Bank / OECD. This is 10.1 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Nepal reached an all time high of 6.87 % in 2002 and an all time low of 2.27 % in 1984. When compared to Nepal's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Bangladesh amounted to 16.5 %, 4.18 % in Bhutan, 2.59 % in China and 4.51 % in India in 2018.

Nepal has been ranked 112th 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, 6 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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