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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 8.94 % in 2018 in Senegal, according to the National Central Bank / OECD. This is 8.31 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Senegal reached an all time high of 14.1 % in 2001 and an all time low of 4.26 % in 1993. When compared to Senegal's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Gambia amounted to 11.9 %, 10.2 % in Guinea, 2.35 % in Mali and 0.575 % in Mauritania in 2018.

Senegal has been ranked 47th 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, 21 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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