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

Insurance and financial services as a percentage of service imports from the balance of payment reached 6.51 % in 2017 in Papua New Guinea, according to the National Central Bank / OECD. This is 4.87 % 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 15.4 % in 2008 and an all time low of 1.83 % in 1993. 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 4.09 %, 5.30 % in Indonesia, 9.51 % in New Zealand and 7.68 % in Philippines in 2017.

Papua New Guinea has been ranked 73rd within the group of 155 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 60 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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