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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 2017  »
Year Quarter
2012 2013 2014 2015 2016 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Argentina19.219.817.218.718.218.217.818.719.720.8
Australia178.4184.8191.2201.9202.6202.6199.0198.9196.7197.2
Austria143.5146.5142.0141.5142.5142.5142.3140.5139.9138.9
Belgium205.4205.9208.1214.1225.9225.9224.7222.4217.9217.8
Brazil68.172.371.576.871.671.670.268.569.868.6
Canada185.5190.8192.1207.9212.1212.1213.6214.1213.5214.5
Chile116.5123.9134.9145.6143.8143.8143.4143.0140.6138.5
China160.3173.8185.6201.6210.8210.8211.1210.4210.4208.7
Colombia50.754.660.565.764.364.363.964.263.763.6
Czech Republic90.297.593.489.389.789.789.789.188.488.3
Denmark250.0239.4240.1239.7234.0234.0230.9228.2226.1225.3
Finland172.6177.1183.8193.2182.7182.7185.1182.6182.0180.2
France175.7174.3180.2183.2189.0189.0191.5191.5191.9192.2
Germany109.4110.1106.4106.0105.7105.7106.9106.6107.1107.0
Greece131.4130.4129.4127.6126.0126.0124.8123.2121.2119.0
Hong Kong SAR227.2250.0270.8270.9279.0279.0286.0297.5299.1302.8
Hungary118.7111.2108.199.993.293.290.989.087.985.4
India60.861.459.760.256.556.558.355.656.755.8
Indonesia34.638.839.640.640.540.539.439.539.039.4
Ireland314.7296.6300.8324.4301.2301.2289.8277.5266.0257.4
Israel118.5113.9111.6109.9110.5110.5109.6109.9111.5110.3
Italy127.3124.6122.3118.1115.3115.3115.4114.6112.9113.8
Japan161.8160.3158.2153.6155.8155.8156.3155.8156.1156.9
Korea183.3185.0188.9191.7192.8192.8192.5193.9193.7193.1
Luxembourg377.3381.2391.3424.5421.5421.5425.5422.3418.7411.6
Malaysia124.2130.4132.8138.5138.7138.7136.8136.0134.0134.4
Mexico32.135.236.639.943.043.041.440.941.543.0
Netherlands280.2278.6289.1287.5288.8288.8287.7285.5283.7279.2
New Zealand175.8172.7171.1172.2174.2174.2173.6173.4173.6173.0
Norway225.6223.1229.0248.9255.3255.3252.6252.8248.2246.3
Poland76.678.881.883.586.386.384.883.982.881.5
Portugal231.4220.9208.5196.1184.3184.3182.5180.0178.3176.2
Russia53.559.671.573.866.866.865.065.765.765.3
Saudi Arabia38.543.748.261.864.564.563.863.261.760.5
Singapore146.0158.4167.3170.1172.2172.2170.6174.4172.6176.6
South Africa70.170.069.773.371.371.372.171.671.971.1
Spain206.8197.3186.6175.0166.6166.6165.9164.4161.4158.2
Sweden229.1233.0234.4234.0230.4230.4234.8235.0234.5235.5
Switzerland225.3223.6223.7227.0237.2237.2238.0238.9239.9240.4
Thailand109.3116.9119.8121.5118.9118.9117.0116.9115.5116.0
Turkey63.072.074.979.985.285.285.985.984.585.6
United Kingdom182.0174.4165.4163.7168.9168.9167.8168.1169.4169.1
United States150.7149.6148.7148.5150.5150.5150.8151.3151.4151.6
Memo:
Euro area167.5164.2164.8165.2165.2165.2165.4163.9162.4161.5
 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