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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 11.0 % in 2018 in Togo, according to the National Central Bank / OECD. This is 0.744 % more than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Togo reached an all time high of 15.8 % in 1998 and an all time low of 3.99 % in 1995. When compared to Togo's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Benin amounted to 1.86 %, 16.7 % in Burkina Faso, 1.10 % in Ghana and 3.93 % in Nigeria in 2018.

Togo has been ranked 30th 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, 2 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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