BIS Statistics Explorer: Table F4.1

Total credit to non-financial corporations (core debt)

As a percentage of GDP ¹

« ‹ Q3 2022 › »	Year					Quarter
« ‹ Q3 2022 › »	2017	2018	2019	2020	2021	Q3 21	Q4 21	Q1 22	Q2 22	Q3 22
Argentina	17.8	22.4	22.9	24.4	18.4	19.5	18.4	17.0	18.1	17.7
Australia	72.8	73.2	72.3	71.2	65.4	67.2	65.4	64.1	64.3	64.0
Austria	92.0	93.0	92.6	100.3	100.6	99.2	100.6	99.0	98.1	98.2
Belgium	156.4	151.2	151.0	156.4	146.5	150.4	146.5	143.4	140.5	139.3
Brazil	44.5	46.0	47.0	54.2	53.0	52.2	53.0	50.0	51.9	52.8
Canada	110.0	113.2	116.6	133.0	123.3	124.9	123.3	119.0	114.5	113.8
Chile	93.5	97.3	105.6	110.4	102.0	102.5	102.0	96.4	103.1	105.0
China	156.4	149.1	150.1	161.0	152.1	155.0	152.1	155.9	157.9	158.2
Colombia	35.3	34.3	31.6	37.5	34.6	35.2	34.6	34.1	33.6	33.1
Czechia	57.2	59.9	54.6	55.6	51.8	52.4	51.8	51.4	50.9	52.6
Denmark	120.6	123.2	136.8	133.1	136.1	138.1	136.1	128.6	127.1	129.1
Finland	122.4	120.6	117.9	122.1	120.6	121.8	120.6	116.8	114.4	111.6
France	142.4	146.1	152.2	176.2	168.6	169.6	168.6	166.5	164.4	164.1
Germany	65.4	67.9	69.2	74.1	73.4	73.1	73.4	72.8	72.3	73.4
Greece	62.4	60.6	54.6	65.4	65.5	68.0	65.5	62.5	61.6	59.9
Hong Kong SAR	272.5	262.4	267.6	292.4	275.2	287.7	275.2	286.9	290.0	279.2
Hungary	65.1	64.5	63.8	71.1	78.5	75.2	78.5	80.1	83.0	86.8
India	58.3	48.9	54.5	59.3	52.9	53.9	52.9	54.2	52.3	52.2
Indonesia	24.9	26.1	26.0	26.4	24.6	25.2	24.6	24.4	25.2	24.3
Ireland	221.3	223.3	197.7	181.3	165.0	163.9	165.0	160.7	158.7	158.6
Israel	68.5	68.4	67.6	69.6	71.4	71.0	71.4	70.8	71.5	70.1
Italy	71.4	69.6	68.2	76.9	73.0	72.6	73.0	71.2	70.1	69.6
Japan	96.0	98.1	102.0	116.1	116.5	114.8	116.5	115.8	116.2	116.8
Korea	92.5	95.6	101.3	109.8	113.7	113.0	113.7	115.2	116.5	119.2
Luxembourg	300.6	306.5	339.4	331.7	341.7	338.2	341.7	335.2	331.1	328.3
Malaysia	66.5	68.6	68.5	73.4	69.4	70.8	69.4	67.5	64.9	61.3
Mexico	26.5	25.7	25.1	27.0	25.2	25.3	25.2	24.6	24.5	24.2
Netherlands	166.1	159.3	148.9	147.9	146.3	147.9	146.3	143.6	142.5	144.1
New Zealand	83.2	81.6	78.7	77.0	72.4	73.3	72.4	72.2	72.4	71.9
Norway	141.4	132.7	142.5	164.2	137.4	149.4	137.4	126.0	120.3	112.7
Poland	47.1	46.5	44.4	46.1	43.7	44.4	43.7	42.7	41.9	42.3
Portugal	107.6	101.0	97.4	107.5	102.7	104.7	102.7	101.1	97.9	95.4
Russia	83.0	80.4	77.0	91.8	80.2	83.0	80.2	78.5	70.1	72.8
Saudi Arabia	49.3	43.1	48.8	67.0	65.1	67.6	65.1	61.1	57.4	57.1
Singapore	137.4	137.4	150.2	169.8	152.6	156.9	152.6	143.7	132.6	136.7
South Africa	38.1	37.4	37.4	36.7	31.9	33.4	31.9	32.1	32.2	33.2
Spain	98.7	95.1	93.2	108.4	104.0	106.6	104.0	101.4	98.4	97.4
Sweden	153.6	152.9	162.0	171.3	180.5	174.1	180.5	180.2	178.0	179.8
Switzerland	123.9	117.9	136.8	139.8	146.4	151.5	146.4	150.4	151.6	149.9
Thailand	74.8	75.6	74.4	85.9	88.7	88.8	88.7	88.8	88.6	87.8
Turkey	67.1	68.1	65.2	71.9	74.9	64.7	74.9	72.6	66.9	60.6
United Kingdom	76.5	71.6	71.3	82.5	76.5	78.2	76.5	71.8	69.8	69.5
United States	74.8	75.7	76.3	84.5	80.1	81.0	80.1	80.2	79.6	78.8
Memo:
Euro area	105.5	104.7	104.8	114.2	111.4	111.6	111.4	110.2	108.6	109.1
Aggregates based on conversion to US dollars at market exchange rates ¹
G20 (aggregate)	96.8	91.2	94.9	109.7	99.8	101.1	99.8	99.8	96.5	93.3
All reporting economies	97.8	92.1	96.1	110.8	100.7	102.0	100.7	100.6	97.1	93.9
Advanced economies	92.2	88.4	91.4	104.4	94.2	95.4	94.2	92.8	89.2	87.3
Emerging market economies	106.9	97.9	103.3	121.0	110.4	112.0	110.4	112.0	108.5	103.3
Aggregates based on conversion to US dollars at PPP exchange rates ¹
G20 (aggregate)	92.9	91.0	92.4	102.2	97.7	98.5	97.7	98.1	97.2	96.9
All reporting economies	93.0	91.1	92.7	102.3	97.9	98.8	97.9	98.2	97.3	96.9
Advanced economies	90.6	90.6	91.8	101.0	97.3	98.2	97.3	96.9	95.7	95.2
Emerging market economies	95.2	91.6	93.5	103.3	98.3	99.2	98.3	99.3	98.6	98.3

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, Turkey, 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 Turkey.
All reporting economies comprise the economies listed under the advanced and emerging market economies.