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Total credit to the non-financial sector (core debt)
As a percentage of GDP  1
«  Q3 2023 › »
Year Quarter
2018 2019 2020 2021 2022 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Argentina117.6121.7137.7106.3110.0105.2110.0109.8114.6125.3
Australia234.2232.0252.2237.8219.9224.6219.9219.3217.4217.6
Austria225.9224.0250.5245.0212.8221.5212.8214.3210.1207.0
Belgium324.6327.7357.8329.7294.0302.7294.0293.3289.7287.6
Brazil159.2164.2182.5173.8170.1168.8170.1166.4167.1167.2
Canada301.7309.0361.7339.6305.3307.8305.3305.4307.2306.0
Chile171.3187.4196.5183.5181.5185.5181.5173.0173.6177.0
China257.2266.3294.1285.0297.4295.9297.4306.3308.4310.7
Colombia112.2113.1137.8131.8125.5125.2125.5122.1120.8120.2
Czechia124.9117.7129.1127.0123.1126.0123.1121.6121.1121.1
Denmark274.9287.7286.9269.5246.7249.0246.7244.0238.2242.4
Finland254.2252.7271.4265.1254.2252.3254.2250.2250.9247.6
France315.6324.5373.3355.3329.6335.2329.6326.8322.6318.5
Germany186.8187.2209.4206.2189.7193.6189.7188.3185.5182.8
Greece309.0301.0347.5330.4279.3291.8279.3272.8270.0266.6
Hong Kong SAR401.7416.1469.5448.4453.7455.2453.7455.9452.3445.4
Hungary154.5152.4174.6175.0164.7170.9164.7163.2161.0160.6
India153.3165.7188.1174.2171.8169.7171.8172.3175.7175.2
Indonesia72.773.183.382.479.079.779.077.677.277.5
Ireland331.7297.2280.0250.1213.6228.7213.6202.1199.0204.5
Israel174.6176.1191.8190.2174.6177.4174.6173.4173.8171.2
Italy251.8257.7298.3276.4243.2246.9243.2242.1243.3235.8
Japan372.0381.4420.9414.2413.0415.6413.0413.9410.1399.8
Korea224.1235.6257.4265.1270.0269.3270.0271.8273.1271.6
Luxembourg404.1419.0434.9440.2405.7408.7405.7408.6403.5403.8
Malaysia215.2216.6243.8238.0214.8218.1214.8215.5219.4221.4
Mexico75.175.183.280.578.279.578.278.177.478.4
Netherlands323.2306.2316.3298.4272.4281.7272.4260.5255.1251.9
New Zealand202.6198.3219.3217.4212.7213.7212.7211.0205.9207.3
Norway271.0286.3324.0282.0237.8234.3237.8239.1244.7262.1
Poland132.2126.4141.0128.3111.9116.4111.9109.9108.7109.0
Portugal298.0290.8327.5305.9262.1274.8262.1257.7251.0246.2
Russia112.7113.4134.5117.2113.7108.6113.7117.9120.2123.8
Saudi Arabia72.680.9109.5103.989.991.989.990.995.599.1
Singapore306.7334.5378.0335.9325.6328.2325.6323.1339.2342.3
South Africa125.6130.3143.7135.6139.6139.3139.6140.0140.1142.1
Spain265.1263.5310.6292.0250.5260.4250.5245.7241.3233.5
Sweden282.7287.6306.8308.7301.1301.1301.1274.9273.7265.8
Switzerland272.8294.3307.7309.1298.4305.2298.4301.1299.7298.9
Thailand192.8193.5226.1237.0232.2233.7232.2231.4232.0233.0
Türkiye111.5111.3128.6128.999.9106.199.995.5100.492.7
United Kingdom266.5267.9318.0297.3245.1248.6245.1244.0235.8231.6
United States252.1256.2293.5279.6257.9259.3257.9257.0255.4253.3
Memo:
Euro area255.0255.0286.0272.5245.3251.9245.3242.4239.6235.8
Aggregates based on conversion to US dollars at market exchange rates  1
G20 (aggregate)236.8247.7291.6264.0248.7238.0248.7252.8248.2244.0
All reporting economies235.6246.9290.3262.3247.6236.4247.6251.5247.0242.8
Advanced economies264.4273.6319.2286.7267.1254.6267.1269.0264.6257.0
Emerging market economies190.3204.9244.0225.6219.3209.9219.3226.0221.1221.5
Aggregates based on conversion to US dollars at PPP exchange rates  1
G20 (aggregate)224.4229.7259.3248.1237.9239.8237.9241.0240.5238.8
All reporting economies223.2228.4257.6246.6236.2238.1236.2238.7238.4236.9
Advanced economies268.7271.9307.4293.5269.9274.5269.9268.4265.9262.5
Emerging market economies183.6191.2215.7208.1208.9208.7208.9214.9216.3216.5
 1 National credit-to-GDP ratios should be interpreted and compared across economies with care, taking into account country specifics.
G20 comprises Argentina, Australia, Brazil, Canada, China, the euro area, India, Indonesia, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom and the United States.
Advanced economies comprise Australia, Canada, Denmark, the euro area, Japan, New Zealand, Norway, Sweden, Switzerland, the United Kingdom and the United States.
Emerging market economies comprise Argentina, Brazil, Chile, China, Colombia, Czechia, Hong Kong SAR, Hungary, India, Indonesia, Israel, Korea, Malaysia, Mexico, Poland, Russia, Saudi Arabia, Singapore, South Africa, Thailand and Türkiye.
All reporting economies comprise the economies listed under the advanced and emerging market economies.