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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
«  Q1 2020 › »
Year Quarter
2015 2016 2017 2018 2019 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20
Argentina18.718.120.622.519.822.119.921.419.819.0
Australia199.5200.4195.0194.9191.5194.4194.2192.7191.5194.3
Austria141.7142.1141.1140.6139.3141.4141.8139.6139.3141.2
Belgium208.6228.9222.3213.0214.6214.5213.5215.5214.6215.6
Brazil78.371.669.271.274.470.671.572.674.474.0
Canada207.2211.1210.6211.5216.4215.3216.4217.7216.4220.6
Chile145.4142.6137.8144.5155.6144.1147.6152.4155.6162.3
China197.3203.7204.5200.6204.6204.6204.6204.8204.6216.2
Colombia65.664.362.462.261.961.862.062.561.963.9
Czech Republic86.787.988.491.688.290.689.989.588.288.2
Denmark237.9235.4228.3223.5220.0223.0221.2221.3220.0218.1
Finland189.4179.5187.5186.5180.5182.7181.3180.6180.5184.8
France192.6199.5204.7211.2214.4212.2213.5215.1214.4218.0
Germany107.8108.5109.7111.3113.7111.9113.3114.0113.7115.2
Greece128.2125.2118.2115.8107.8111.2109.3107.7107.8108.9
Hong Kong SAR268.2276.4300.0292.5306.3296.2299.8304.7306.3321.8
Hungary96.691.685.884.482.683.884.283.082.686.4
India60.256.154.856.056.357.856.156.156.357.8
Indonesia40.740.539.440.539.739.840.039.739.740.8
Ireland323.5302.8266.1242.3223.0238.8238.0234.2223.0218.5
Israel110.1111.1111.2111.5111.0111.8111.9110.6111.0109.5
Italy118.7115.0112.2110.9109.7110.0110.2110.3109.7110.5
Japan153.2156.1156.1160.0163.0160.6160.8161.7163.0164.6
Korea180.9181.8182.0187.1197.0188.8191.6194.4197.0201.0
Luxembourg404.4386.8420.6417.9392.5410.5400.0394.3392.5407.8
Malaysia136.4136.7132.7136.6136.9136.5136.0135.6136.9136.7
Mexico39.742.842.541.841.542.042.242.341.545.8
Netherlands287.1287.0276.7266.7255.6265.1262.4260.0255.6256.5
New Zealand175.9177.8174.7175.5175.1175.1175.8175.7175.1176.2
Norway249.6257.2245.6234.4242.3234.6236.8241.4242.3250.7
Poland83.486.381.480.677.880.179.079.377.879.6
Portugal196.7184.3176.3167.7160.8166.1164.8163.4160.8161.1
Russia103.999.699.396.895.794.794.296.195.7100.8
Saudi Arabia62.465.660.854.758.955.556.056.458.961.0
Singapore168.1167.5167.4165.6175.5165.4167.7168.4175.5178.1
South Africa73.371.571.272.273.274.874.174.973.275.7
Spain177.9168.9160.2155.3150.0155.5153.6152.8150.0150.7
Sweden236.8236.2240.9246.7255.4252.1254.3255.4255.4256.0
Switzerland229.2237.7246.5248.9253.7250.3252.2253.3253.7257.5
Thailand121.9119.1116.5116.5116.1116.3115.8115.8116.1118.6
Turkey79.985.185.584.080.784.582.980.280.784.1
United Kingdom160.6165.4167.8166.2161.9160.3161.3163.4161.9162.8
United States147.6149.5151.1150.1150.1149.9150.2150.5150.1153.5
Memo:
Euro area168.1167.9165.9165.0165.0165.0165.6166.4165.0167.2
 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