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Credit-to-GDP ratios (actual data)  1
Based on total credit to the private non-financial sector, as % of GDP  2
« ‹ Q4 2021 › »
 Year Quarter
2016 2017 2018 2019 2020 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21
Argentina20.824.929.028.329.929.928.525.823.922.8
Australia198.7193.9193.6189.3191.3191.3190.3185.5183.0180.7
Austria142.0141.5141.9141.5152.2152.2156.5152.8152.7152.8
Belgium227.9215.8210.8211.9222.4222.4224.1214.5213.9206.2
Brazil74.472.574.477.086.586.587.082.383.684.9
Canada213.8213.6216.1221.2245.0245.0243.8238.3235.7232.9
Chile142.8137.6143.5154.0158.0158.0156.3148.5148.1147.2
China203.7204.5200.6205.5222.8222.8221.0218.2216.4213.3
Colombia64.162.362.060.669.969.969.867.265.464.2
Czechia87.988.491.586.189.489.489.987.986.986.7
Denmark242.7234.5235.2247.3238.0238.0238.4233.9232.3229.0
Finland179.5186.8185.9183.7191.3191.3193.4191.9190.8189.2
France199.4200.7206.5213.1240.6240.6239.1232.1230.6229.3
Germany117.7117.7120.0121.9131.0131.0132.7130.1129.6130.2
Greece127.3120.9119.7111.1125.8125.8128.9130.5126.2122.6
Hong Kong SAR306.5343.4335.2349.2383.9383.9388.5396.6381.0368.7
Hungary89.883.782.382.591.991.996.994.497.2100.6
India90.892.883.891.599.499.4100.593.690.689.1
Indonesia43.142.043.142.944.244.244.543.642.441.8
Ireland304.6268.1264.7235.2215.7215.7207.6197.6193.2192.2
Israel110.3109.8110.0109.4112.9112.9114.7113.7114.4114.9
Italy114.9112.1110.4109.4122.3122.3121.9117.5115.2114.9
Japan155.5156.1159.4164.4183.3183.3184.2182.2182.0183.7
Korea181.7181.9187.4196.2212.8212.8215.0216.6218.6219.6
Luxembourg376.5370.9382.0395.4409.0409.0408.1406.4412.4415.1
Malaysia166.4161.9164.0164.2181.8181.8182.9175.9176.9174.7
Mexico41.541.440.740.042.942.942.940.740.640.4
Netherlands284.5273.8263.8249.9253.0253.0255.2249.4244.6239.9
New Zealand177.2174.0172.8170.6174.4174.4175.0170.4170.7170.3
Norway255.8243.3231.8245.9277.7277.7278.8270.3258.1239.9
Poland87.082.281.578.880.780.780.177.677.375.9
Portugal184.3176.7167.1160.9176.6176.6179.5174.4172.5169.4
Russia99.699.398.198.7114.2114.2111.6105.9103.199.1
Saudi Arabia63.359.554.358.678.578.581.880.378.375.3
Singapore203.1202.7199.0209.9231.8231.8224.3221.6210.5202.4
South Africa74.072.872.072.573.273.273.068.067.565.8
Spain169.1159.8154.0149.7170.2170.2171.8168.6164.7160.9
Sweden236.9242.1241.2250.1265.0265.0270.2266.1265.5270.6
Switzerland241.0250.9244.0265.4276.0276.0287.8285.2284.1279.3
Thailand161.8158.0158.9159.5181.1181.1184.0181.6183.9184.3
Türkiye84.684.182.579.689.389.389.084.380.289.3
United Kingdom163.3163.7158.5157.0176.6176.6177.5172.4168.4163.9
United States152.6154.2153.5153.3164.7164.7165.0163.2161.6160.4
Memo:
Euro area166.2162.9159.2158.5172.3172.3173.4168.8167.2165.6
 1 Credit-to-GDP gaps is defined as the difference between the credit-to-GDP ratio and its long-term trend; in percentage points. Long-term trend is calculated using a one-sided Hodrick-Prescott filter with a lambda of 400,000. 2 Can also be found in table F2.1