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

Insurance and financial services (% of service imports, BoP) 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. Services imports refer to economic output of intangible commodities that may be produced, transferred, and consumed at the same time. International transactions in services are defined by the International Monetary Fund's (IMF) Balance of Payments Manual (1993), but definitions may nevertheless vary among reporting economies.



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