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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
Argentina83.9117.6121.7137.7106.3134.1121.4110.2106.3103.7
Australia234.7234.2232.0252.2237.8249.5243.1241.5237.8231.5
Austria230.8225.9224.0250.5245.0255.4249.8247.4245.0237.2
Belgium332.4324.6327.7357.8329.7358.6344.6341.2329.7319.7
Brazil155.2159.2164.2182.5173.8182.7174.1172.9173.8169.0
Canada300.2301.7309.0361.7339.6355.7349.5344.2339.6325.4
Chile163.0171.3187.4196.5183.5192.8183.0183.8183.5176.0
China259.4257.2266.3294.1285.0291.5288.7287.6285.0289.8
Colombia112.3112.2113.1137.8131.8139.9136.5133.7131.8127.1
Czechia124.9124.9117.7129.1127.0134.6131.2127.4127.0125.6
Denmark276.2274.9287.7286.9269.5284.2278.3275.8269.5260.1
Finland256.6254.2252.7271.4265.1273.2270.2268.3265.1262.0
France311.2315.6324.5373.3355.3372.0359.7359.5355.3350.4
Germany187.7186.8187.2209.4206.2210.4206.7205.8206.2200.1
Greece302.8309.0301.0347.5330.4353.4354.0345.0330.4316.4
Hong Kong SAR414.2401.7416.1469.5448.4472.3478.9464.1448.4462.8
Hungary161.2154.5152.4174.6175.0179.2172.5176.9175.0172.3
India162.3153.3165.7188.1174.2189.9180.3176.2174.2176.6
Indonesia71.372.773.183.382.486.084.783.382.481.5
Ireland341.4331.7297.2280.0250.1272.4259.9253.5250.1241.1
Israel175.9174.6176.1191.8190.2195.7193.4192.3190.2185.5
Italy258.6251.8257.7298.3276.4299.1289.0283.7276.4269.7
Japan367.2372.0381.4420.9414.2419.8415.3413.1414.2416.7
Korea217.8224.1235.6257.4265.1260.7262.3264.1265.1267.5
Luxembourg394.0404.1419.0434.9440.2437.0433.5438.7440.2419.5
Malaysia212.0215.2216.6243.8238.0247.4240.1241.4238.0233.5
Mexico75.675.175.183.280.584.580.180.880.580.8
Netherlands338.0323.2306.2316.3298.4317.2310.4303.6298.4289.1
New Zealand202.6202.6198.3219.3217.4222.1214.2217.1217.4216.3
Norway281.6271.0286.3324.0282.0321.8308.2294.6282.0260.0
Poland135.1132.2126.4141.0128.3141.7136.7134.8128.3122.8
Portugal312.8298.0290.8327.5305.9332.7321.9314.6305.9295.7
Russia114.8112.7113.4134.5117.2132.0125.5121.9117.2115.2
Saudi Arabia76.772.680.9109.5103.9113.3110.6107.8103.999.3
Singapore308.7306.7334.5378.0335.9372.2363.1348.4335.9332.4
South Africa123.5125.6130.3143.7135.6144.3137.1136.9135.6134.6
Spain273.1265.1263.5310.6292.0314.5306.6301.0292.0280.3
Sweden285.9282.7287.6306.8308.7311.7305.8303.4308.7305.7
Switzerland282.2272.8294.3307.7309.1319.4316.1314.7309.1309.9
Thailand190.4192.8193.5226.1237.0231.4230.3235.2237.0237.2
Türkiye112.6111.5111.3128.6128.9126.8121.0115.2128.9126.7
United Kingdom274.7266.5267.9318.0297.3311.9306.4299.8297.3278.0
United States252.4252.1256.2293.5279.6290.1285.3280.2279.6273.5
Memo:
Euro area262.0255.0255.0286.0272.5287.3279.6277.0272.5265.6
Aggregates based on conversion to US dollars at market exchange rates  1
G20 (aggregate)249.2236.8247.7291.6264.0281.7275.0266.9264.0260.0
All reporting economies248.3235.6246.9290.3262.3280.2273.4265.3262.3258.4
Advanced economies277.3264.4273.6319.2286.7306.3298.8290.2286.7278.8
Emerging market economies201.9190.3204.9244.0225.6239.4234.3227.5225.6228.1
Aggregates based on conversion to US dollars at PPP exchange rates  1
G20 (aggregate)226.7224.4229.7259.3248.1258.8253.2250.0248.1248.5
All reporting economies225.4223.2228.4257.6246.6257.4251.8248.7246.6246.6
Advanced economies271.5268.7271.9307.4293.5309.0301.9296.7293.5290.4
Emerging market economies184.2183.6191.2215.7208.1214.8210.6209.2208.1210.8
 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.