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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 2021 › »
Year Quarter
2016 2017 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21
Argentina18.121.725.423.224.522.223.623.824.523.5
Australia201.0196.0195.5191.5195.5194.7195.5196.6195.5195.0
Austria142.1141.9141.0139.6151.7142.1148.0150.0151.7153.9
Belgium229.2216.7211.2208.7232.7216.9226.7227.8232.7233.6
Brazil78.376.877.981.090.880.783.487.090.890.1
Canada213.8213.5216.6220.1244.8224.1235.7240.8244.8241.2
Chile144.1138.9145.6157.8164.1165.1173.5172.4164.1163.2
China203.7204.5200.6205.6222.4217.2222.6224.2222.4220.5
Colombia64.362.462.060.666.762.665.966.566.766.7
Czech Republic87.988.391.585.989.786.087.889.089.790.1
Denmark242.7234.5235.2246.0238.9243.4247.1239.3238.9238.8
Finland179.5186.8186.4184.1189.9184.3187.7188.3189.9191.0
France199.5200.8206.1210.9237.6215.3230.4234.8237.6237.1
Germany117.3117.4119.3121.0130.8122.1127.3129.3130.8132.4
Greece127.1120.5119.3111.0125.2112.0115.9121.4125.2128.8
Hong Kong SAR275.9299.6292.2308.1338.0324.0330.7348.6338.0341.4
Hungary89.883.782.182.089.485.686.789.689.494.0
India91.987.686.887.295.288.893.094.395.296.9
Indonesia40.539.440.539.740.440.839.840.940.440.4
Ireland315.2279.4278.2249.3221.6247.5242.9226.3221.6228.1
Israel110.9110.4110.4109.8114.4108.3109.4111.6114.4117.2
Italy115.0112.1110.5109.7122.2111.1117.2120.0122.2122.9
Japan155.5155.8159.3163.4182.4165.1176.7180.0182.4183.0
Korea181.7181.9187.4196.2213.7200.2205.8210.5213.7216.2
Luxembourg385.7404.4408.4405.5412.8372.6428.8417.7412.8404.5
Malaysia136.7132.7136.6136.6149.9136.5144.1147.2149.9150.6
Mexico42.842.541.841.144.845.446.846.644.844.8
Netherlands286.2275.9266.0252.1253.8254.1259.1259.4253.8256.8
New Zealand177.1173.6172.4170.7176.8172.2174.4173.6176.8177.2
Norway257.2245.6233.2247.6270.1255.5264.8268.7270.1267.1
Poland86.681.881.578.380.680.580.480.080.680.2
Portugal184.3176.7167.1160.7171.7159.9168.2170.0171.7174.3
Russia99.699.397.696.4109.7103.7105.8111.9109.7110.2
Saudi Arabia65.660.854.758.975.661.166.970.875.678.1
Singapore167.4166.7164.0175.1196.3177.4183.9188.0196.3193.4
South Africa75.474.774.274.975.476.877.676.375.477.8
Spain169.2160.4154.1149.9170.3151.2163.7166.2170.3172.4
Sweden236.1240.7246.9254.4269.0258.3263.3266.0269.0277.3
Switzerland237.6246.8239.3255.9268.7256.3263.7267.2268.7277.0
Thailand119.1116.6116.6115.9131.2118.5123.9127.1131.2133.3
Turkey84.684.082.779.889.683.391.595.289.689.3
United Kingdom159.9162.5161.1155.8169.9157.6166.4167.7169.9169.1
United States150.0151.7150.9150.8164.4154.1160.4162.3164.4165.4
Memo:
Euro area167.8164.6163.7162.6176.7164.0172.0174.3176.7178.5
 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