Insurance and financial services as a percentage of service exports from the balance of payment rose 21.6% to 14.6% in South Africa in 2021, according to the National Central Bank / OECD.
Historically, insurance and financial services as a percentage of service exports from the balance of payment in South Africa reached an all time high of 14.6% in 2021 and an all time low of 4.30% in 2003. When compared to South Africa's main peers, insurance and financial services as a percentage of service exports from the balance of payment in Botswana amounted to 0.561%, 0.155% in Lesotho, 1.63% in Namibia and 16.4% in Swaziland in 2021.
South Africa has been ranked 20th within the group of 134 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment, 11 places above the position seen 10 years ago.
| Insurance and Financial Services (As % of Service Exports, BoP) | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Angola | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ||
| Botswana | % | 0.606% | 0.460% | 3.35% | 9.97% | 6.14% | ||||||||||||||||
| Lesotho | % | 0.076% | 0.051% | 0.099% | 0.103% | 0.104% | ||||||||||||||||
| Mozambique | % | ... | ... | ... | ... | 6.66% | 4.81% | 1.71% | 2.11% | 3.16% | ||||||||||||
| Namibia | % | 2.77% | 4.68% | 3.68% | 3.86% | 4.04% | ||||||||||||||||
| South Africa | % | 8.04% | 7.85% | 7.32% | 7.69% | 7.14% | ||||||||||||||||
| Swaziland | % | ... | ... | 16.4% | 9.19% | 46.3% | 17.2% | 16.0% | ||||||||||||||
| Zambia | % | 9.76% | 10.0% | 9.86% | 8.98% | 8.93% | ||||||||||||||||
| Zimbabwe | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... |
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