Nigeria - Insurance and financial services

Insurance and financial services (% of service imports, BoP)

Insurance and financial services (% of service imports, BoP) in Nigeria was 6.42 as of 2020. Its highest value over the past 43 years was 9.04 in 2016, while its lowest value was 0.00 in 2003.

Definition: Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1977 3.14
1978 4.34
1979 3.67
1980 2.77
1981 4.14
1982 3.25
1983 3.89
1984 3.24
1985 3.82
1986 2.09
1987 3.36
1988 4.63
1989 3.46
1990 3.01
1991 4.45
1992 4.75
1993 2.95
1994 2.56
1995 2.43
1996 0.97
1997 2.34
1998 2.05
1999 2.68
2000 2.68
2001 2.68
2002 2.68
2003 0.00
2005 0.45
2006 2.19
2007 1.19
2008 4.29
2009 2.36
2010 2.51
2011 4.16
2012 4.84
2013 4.42
2014 6.33
2015 7.40
2016 9.04
2017 7.40
2018 3.93
2019 3.66
2020 6.42

Insurance and financial services (% of service exports, BoP)

Insurance and financial services (% of service exports, BoP) in Nigeria was 23.79 as of 2020. Its highest value over the past 43 years was 23.79 in 2020, while its lowest value was 0.11 in 2003.

Definition: Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents.

Source: International Monetary Fund, Balance of Payments Statistics Yearbook and data files.

See also:

Year Value
1977 0.83
1978 5.04
1979 7.08
1980 6.61
1981 4.84
1982 3.65
1983 3.68
1984 4.07
1985 5.46
1986 1.12
1987 0.53
1988 2.55
1989 0.22
1990 0.28
1991 0.74
1992 1.12
1993 0.95
1994 0.43
1995 0.60
1996 0.27
1997 0.43
1998 0.42
1999 0.85
2000 0.85
2001 0.85
2002 0.85
2003 0.11
2004 0.17
2005 0.64
2006 0.55
2007 1.24
2008 0.67
2009 0.40
2010 0.48
2011 0.52
2012 0.54
2013 1.09
2014 1.82
2015 9.39
2016 8.75
2017 7.18
2018 15.86
2019 16.31
2020 23.79

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments