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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.05 % in 2018 in Pakistan, according to the National Central Bank / OECD. This is 6.36 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Pakistan reached an all time high of 5.66 % in 2002 and an all time low of 1.21 % in 1990. When compared to Pakistan's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Afghanistan amounted to 1.25 %, 2.59 % in China and 4.51 % in India in 2018.

Pakistan has been ranked 92nd 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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