In the case of Switzerland, the services exports are mostly asset management, Ireland’s are mostly back office services, and in the UK it is mostly financial intermediation. The value added of financial intermediation in Israel was 5.1% of GDP in 2013, slightly less than the 5.4% average in OECD countries.
BIS central bankers’ speeches  1  Total assets of the banking sector in Israel a share of GDP stood at 127% in 2014, well below the OECD median (243%) and average (247%). In fact, the total assets of the banking sector as a share of GDP has been contracting for the past decade from its peak of 147% in 2002.