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

Insurance and financial services as a percentage of service imports from the balance of payment reached 13.5 % in 2017 in Turkey, according to the National Central Bank / OECD. This is 7.63 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Turkey reached an all time high of 16.5 % in 2001 and an all time low of 1.70 % in 1983. When compared to Turkey's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Bulgaria amounted to 4.20 %, 8.16 % in Greece and 15.5 % in Iraq in 2017.

Turkey has been ranked 21st 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, 6 places behind 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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