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

Source: World Bank
Last Updated: Apr 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 12.4 % in 2016 in Yemen, according to the National Central Bank / OECD. This is 8.21 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Yemen reached an all time high of 13.5 % in 2015 and an all time low of 7.27 % in 2006. When compared to Yemen's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Djibouti amounted to 5.65 %, 9.45 % in Oman and 3.53 % in Saudi Arabia in 2016.

Yemen has been ranked 27th within the group of 163 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 39 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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