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

Insurance and financial services as a percentage of service imports from the balance of payment reached 2.50 % in 2017 in South Korea, according to the National Central Bank / OECD. This is 4.51 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in South Korea reached an all time high of 8.31 % in 1976 and an all time low of -0.091 % in 1990. When compared to South Korea's main peers, insurance and financial services as a percentage of service imports from the balance of payment in China amounted to 2.77 % and 6.76 % in Japan in 2017.

South Korea has been ranked 133rd 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, 1 places above 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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