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Insurance and Financial Services (As % of Service Imports, BoP) in Papua New Guinea

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 5.67 % in 2018 in Papua New Guinea, according to the National Central Bank / OECD. This is 13.1 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Papua New Guinea reached an all time high of 17.6 % in 2008 and an all time low of % in. When compared to Papua New Guinea's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Australia amounted to 3.54 %, 4.90 % in Indonesia, 9.84 % in New Zealand and 7.58 % in Philippines in 2018.

Papua New Guinea has been ranked 85th within the group of 160 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 77 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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