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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 13.2 % in 2018 in Trinidad and Tobago, according to the National Central Bank / OECD. This is 16.5 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Trinidad and Tobago reached an all time high of 19.3 % in 2010 and an all time low of 0.026 % in 2000. When compared to Trinidad and Tobago's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Guyana amounted to 6.88 % and 5.60 % in Suriname in 2018.

Trinidad and Tobago has been ranked 21st 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, 121 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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