Insurance and Financial Services (As % of Service Imports, BoP) fell 13.7% to 13.1% in New Zealand in 2021

Insurance and financial services as a percentage of service imports from the balance of payment fell 13.7% to 13.1% in New Zealand in 2021, according to the National Central Bank / OECD.

Historically, insurance and financial services as a percentage of service imports from the balance of payment in New Zealand reached an all time high of 15.1% in 2020 and an all time low of 2.43% in 1990. When compared to New Zealand's main peers, insurance and financial services as a percentage of service imports from the balance of payment in Australia amounted to 6.93%, 9.00% in Indonesia, 8.83% in Malaysia and 11.3% in Philippines in 2021.

New Zealand has been ranked 26th within the group of 139 countries we follow in terms of insurance and financial services as a percentage of service imports from the balance of payment, 50 places above the position seen 10 years ago.