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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 2.71 % in 2020 in Romania, according to the National Central Bank / OECD. This is 2.68 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Romania reached an all time high of 10.1 % in 2012 and an all time low of % in. When compared to Romania's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Bulgaria amounted to 12.4 %, 3.90 % in Hungary, 1.71 % in Moldova and 6.55 % in Ukraine in 2020.

Romania has been ranked 86th within the group of 96 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 18 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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