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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 8.15 % in 2020 in Spain, according to the National Central Bank / OECD. This is 28.1 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Spain reached an all time high of 10.1 % in 2014 and an all time low of % in. When compared to Spain's main peers, insurance and financial services as a percentage of service imports from the balance of payment in France amounted to 8.67 %, 15.4 % in Italy, 4.25 % in Morocco and 9.18 % in Portugal in 2020.

Spain has been ranked 43rd 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, 22 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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