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

Source: World Bank
Last Updated: Oct 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 11.8 % in 2018 in Sri Lanka, according to the National Central Bank / OECD. This is 4.45 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Sri Lanka reached an all time high of 21.5 % in 2001 and an all time low of % in. When compared to Sri Lanka's main peers, insurance and financial services as a percentage of service imports from the balance of payment in India amounted to 4.51 %, 6.93 % in Malaysia, 5.19 % in Maldives and 1.62 % in Myanmar in 2018.

Sri Lanka has been ranked 28th within the group of 160 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 45 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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