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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
«  Q3 2021 › »
Year Quarter
2016 2017 2018 2019 2020 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21
Argentina20.824.929.027.929.628.929.628.425.623.8
Australia200.6195.7195.3191.1194.6195.8194.6194.0189.3186.8
Austria142.1141.5141.9141.9152.7151.3152.7156.5151.9151.4
Belgium229.2216.7210.8212.8221.4220.9221.4222.4214.0210.2
Brazil78.376.877.981.390.686.890.689.788.990.1
Canada213.9213.7216.2219.9244.5240.5244.5241.0235.0233.4
Chile144.1138.9145.7157.9164.2172.5164.2162.0153.8153.3
China203.7204.5200.6205.5222.6224.4222.6221.0218.8217.1
Colombia64.362.462.060.666.766.466.766.764.663.0
Czech Republic87.988.391.585.989.789.089.790.188.187.6
Denmark242.7234.5235.2246.8244.0243.2244.0243.9238.5237.2
Finland179.5186.8187.3183.5193.1190.5193.1193.9190.4188.9
France199.5200.8204.2211.8239.4235.3239.4238.9232.5231.3
Germany117.6117.7120.0121.8131.8130.3131.8133.6131.3130.7
Greece126.9120.7119.4111.0125.1121.6125.1127.8128.5124.4
Hong Kong SAR306.2343.3335.1349.8382.7391.2382.7387.9395.5380.2
Hungary89.883.782.182.290.890.390.895.893.795.8
India91.987.686.887.295.294.395.297.090.487.7
Indonesia43.142.043.142.944.244.944.244.543.642.4
Ireland304.2269.7265.9235.1216.4224.1216.4212.5203.4197.0
Israel110.9110.4110.4109.8114.3111.6114.3116.5115.7116.7
Italy115.0112.1110.4109.4121.8119.8121.8122.5118.4117.1
Japan155.5155.9159.2163.9182.5180.2182.5183.5182.4182.6
Korea181.7181.9187.4196.2213.7210.5213.7216.2218.1220.4
Luxembourg378.2375.5382.0400.9411.1421.6411.1410.1389.5386.0
Malaysia136.7132.7136.5136.6149.9147.2149.9150.7143.9144.5
Mexico42.842.541.841.144.346.144.344.341.841.4
Netherlands286.2275.9266.0252.1253.8259.4253.8257.1253.9250.7
New Zealand177.4174.1172.7170.4174.0172.6174.0174.9170.3171.3
Norway256.9244.9233.1247.9270.8269.1270.8268.2259.0246.7
Poland86.681.881.578.580.579.980.580.077.978.0
Portugal184.3176.7167.1160.9175.7173.5175.7178.3174.2173.5
Russia99.699.397.696.5109.7111.9109.7108.2103.6102.8
Saudi Arabia68.563.455.262.385.580.385.588.786.985.5
Singapore202.9202.2199.1210.9237.9227.7237.9234.0235.6229.0
South Africa74.172.972.172.873.774.473.773.768.868.5
Spain169.2159.9153.6149.4169.4165.2169.4171.2168.1164.9
Sweden236.1240.7246.9255.1269.4267.0269.4279.6274.7274.0
Switzerland237.6246.8239.4256.8266.6265.8266.6277.7275.9274.0
Thailand156.9153.3154.4154.5175.8169.9175.8178.6176.4178.6
Turkey84.684.082.779.889.795.289.789.084.280.4
United Kingdom159.4161.6156.3154.8168.6166.5168.6168.2163.5161.4
United States150.8152.4151.6151.5164.8162.9164.8165.8161.3159.6
Memo:
Euro area167.0163.5161.6161.2175.2173.5175.2177.4173.0171.7
 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