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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 3.54 % in 2018 in Slovakia, according to the National Central Bank / OECD. This is 6.20 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Slovakia reached an all time high of 11.6 % in 2008 and an all time low of 3.19 % in 2016. When compared to Slovakia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Austria amounted to 5.30 %, 4.41 % in Czech Republic, 3.58 % in Hungary and 4.09 % in Poland in 2018.

Slovakia has been ranked 116th 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, 94 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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