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

Source: World Bank
Last Updated: January 1, 2021

Insurance and financial services as a percentage of service imports from the balance of payment reached 8.57 % in 2018 in Zambia, according to the National Central Bank / OECD. This is 5.88 % less than in the previous year.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in Zambia reached an all time high of 10.9 % in 2017 and an all time low of -0.035 % in 1997. When compared to Zambia's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Angola amounted to 7.70 %, 2.63 % in Tanzania and 21.4 % in Dem. Republic of the Congo in 2018.

Zambia has been ranked 52nd 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, 63 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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