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Total credit to the non-financial sector (core debt)
As a percentage of GDP  1
«  Q1 2022 › »
Year Quarter
2017 2018 2019 2020 2021 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22
Argentina83.9117.6121.7137.7106.5134.3121.5110.3106.5104.2
Australia236.6236.2234.2256.3242.6253.7247.5246.5242.6236.0
Austria230.8225.9224.4251.5245.6256.1249.4247.2245.6238.5
Belgium333.3324.4327.9357.4336.8362.5349.9345.6336.8323.7
Brazil155.2159.2164.1185.9180.5187.8179.4178.7180.5175.0
Canada300.0301.1306.8361.0338.2353.1347.2342.1338.2324.5
Chile162.4170.8186.7197.5182.6193.5182.9182.8182.6174.6
China256.2254.3263.1291.6286.6290.1288.7288.1286.6291.5
Colombia112.3112.2113.1137.7133.5140.4137.5134.9133.5129.1
Czechia124.9124.9117.6128.1126.5133.3129.7125.9126.5125.4
Denmark276.2274.9287.7293.4273.0290.7284.2282.1273.0260.0
Finland256.6254.2252.8271.3259.6272.0267.1263.6259.6252.0
France311.2315.6325.1373.8358.4373.3361.4362.8358.4353.2
Germany186.8185.9186.1205.3203.5207.0203.8203.5203.5198.8
Greece302.5308.8301.0346.0328.0351.0350.1341.5328.0315.0
Hong Kong SAR414.1401.6416.1469.4447.8471.9478.0463.1447.8461.8
Hungary161.2154.2152.2173.5169.3176.5169.1173.0169.3167.2
India162.5153.0164.1186.6173.5188.6179.6175.4173.5175.6
Indonesia71.472.773.183.482.486.084.783.482.481.5
Ireland341.3332.3297.5280.1254.4278.0266.6257.8254.4248.6
Israel175.4173.9174.8191.1190.7195.4193.5192.6190.7185.7
Italy258.6251.8257.6298.5282.1300.8291.4288.3282.1276.0
Japan367.4372.1381.4422.9422.3422.7419.9419.0422.3424.6
Korea217.8224.1235.6257.4265.0261.0262.5264.8265.0267.9
Luxembourg398.7404.0424.3443.2410.8444.2421.3417.9410.8395.3
Malaysia182.8187.7189.1211.8206.0215.0208.1209.0206.0202.1
Mexico77.777.177.385.781.786.982.082.381.781.9
Netherlands338.1323.1306.0316.2307.2319.4315.1310.4307.2297.7
New Zealand202.7202.5198.0218.7218.4221.8214.0217.7218.4217.1
Norway283.5272.6288.9329.1282.6323.1308.7294.4282.6258.2
Poland134.7132.5126.1140.8128.9142.0137.2135.7128.9123.0
Portugal312.8298.0290.8327.6311.6332.6323.2318.1311.6303.4
Russia114.8112.2110.8134.2120.3132.3127.0124.4120.3117.5
Saudi Arabia80.673.584.8117.8112.9121.6118.6116.3112.9107.3
Singapore307.8305.8335.0381.9365.7381.5377.6370.0365.7372.0
South Africa123.2125.5130.4143.7136.2144.7137.5137.2136.2135.0
Spain273.3265.5263.9310.4295.3314.7308.0303.8295.3283.9
Sweden283.8282.0287.5306.5310.5312.3307.3305.7310.5308.9
Switzerland277.6267.8285.5297.7300.0309.1306.2303.7300.0296.9
Thailand185.8188.3188.6221.6232.5226.7225.7230.5232.5231.8
Turkey112.6111.5111.5128.7129.3126.8121.1115.2129.3127.1
United Kingdom270.9262.2263.6306.0289.2298.6293.6290.3289.2271.1
United States251.3250.8255.1296.4281.0294.1286.7281.6281.0274.8
Memo:
Euro area262.4257.4258.1289.0278.7291.6284.4282.4278.7272.6
Aggregates based on conversion to US dollars at market exchange rates  1
G20 (aggregate)248.3236.4247.2292.5266.3283.3276.4268.8266.3262.4
All reporting economies247.3235.0246.2290.9264.3281.5274.5266.8264.3260.5
Advanced economies276.8264.4273.7321.1289.3308.9300.4292.3289.3281.4
Emerging market economies200.3188.8203.0243.0227.3239.1234.8228.4227.3229.8
Aggregates based on conversion to US dollars at PPP exchange rates  1
G20 (aggregate)225.9223.9229.1259.8250.5260.5254.8252.0250.5249.2
All reporting economies224.4222.4227.5257.7248.6258.6253.0250.3248.6247.4
Advanced economies271.0268.8272.1309.2296.5311.6303.7299.2296.5292.0
Emerging market economies182.8182.2189.3214.7209.9215.2211.6210.6209.9211.6
 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, Turkey, 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 Turkey.
All reporting economies comprise the economies listed under the advanced and emerging market economies.