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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Turkey’s banking sector is one of the fast-growing segments of the economy. The gross value added (GVA) of the banking and insurance sector grew at a CAGR of nearly 18.7% over the 2015-2019 period, above the 16.3% rate at which the ...
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India’s tourism sector has witnessed remarkable growth over the last couple of decades and has emerged as a key contributor to the country’s economic growth. According to the World Travel and Tourism Council (WTTC), India ...
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Mining in Africa has a long history stretching back over a century, and minerals play a vital role in economies across the continent. Mining and quarrying* (including oil and gas) constitutes over 10% of GDP in over 15 African economies, ...
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Accounting for 3% of total GVA of the economy in 2018, the financial intermediation and insurance sector in Romania is still underdeveloped by EU standards (4.8% for the EU28). The banking sector, which represents about 75% of the financial system, ...
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The mining and quarrying sector, including oil and natural gas extraction, generated a gross output of CZK 67.3bn in 2017, decreasing by 0.7% y/y in real terms and recording the smallest drop in the period 2013-2017. The gross output of mining and ...
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The revenue of China’s mobile communications equipment sector rose by 5.6% y/y in the first nine months of 2019, according to MIIT. The gross value added of communications equipment manufacturing during this period increased by 7.1% y/y. ...
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Economic growth in the Philippines over the past few years has been strong as a result of rising remittances from overseas Filipino workers (“OFWs”) and a rising availability of comparatively high paying jobs from the business process ...
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Mexico, a traditional oil exporting country, saw its crude oil output continually decline at a CAGR of 4.3% between 2004 and 2018 due to the natural decay of the country’s mature fields, coupled with insufficient investment in exploration and ...
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Russia’s vast territory, wide range of tourist attractions and proximity to European and Asian markets offer strong growth potential for the country’s tourism sector. However, high entry barriers, underdeveloped transport infrastructure ...
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Poland has insignificant oil reserves and modest natural gas ones and is thus forced to import the bulk of energy sources to feed its growing economy. This creates a chronic trade deficit in crude oil, natural gas and petroleum products, which ...
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