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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 4.27 % in 2018 in Palestine, according to the National Central Bank / OECD. This is 9.39 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Palestine reached an all time high of 4.27 % in 2018 and an all time low of 1.28 % in 2008. When compared to Palestine's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Egypt amounted to 10.7 %, 1.93 % in Israel, 10.5 % in Jordan and 16.4 % in Lebanon in 2018.

Palestine has been ranked 99th 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, 55 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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