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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 2023 › »
Year Quarter
2018 2019 2020 2021 2022 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23
Argentina29.028.329.922.822.022.022.021.923.024.2
Australia193.6189.3191.3180.7170.5173.8170.5168.7169.1169.5
Austria141.9141.5152.2152.8141.0144.8141.0140.1137.9136.7
Belgium210.8211.9222.4206.2195.1202.3195.1191.9189.2187.0
Brazil74.477.086.584.986.185.686.184.883.685.7
Canada216.1221.2245.0232.9217.2218.6217.2217.6219.2219.6
Chile143.5154.0158.0147.2145.4151.1145.4138.1138.0141.8
China200.6205.5222.8213.3220.4220.5220.4228.0228.7229.5
Colombia62.060.669.964.260.861.160.859.359.058.8
Czechia91.586.189.486.783.385.883.380.679.779.7
Denmark235.2247.3238.0229.0218.3219.6218.3215.8209.5214.2
Finland185.9183.7191.3189.2187.1185.7187.1182.5182.5180.9
France206.5213.1240.6229.3224.3225.4224.3219.9217.2215.3
Germany120.0121.9131.0130.2128.0129.2128.0126.4125.2123.6
Greece119.7111.1125.8122.6101.6111.3101.699.097.496.2
Hong Kong SAR335.2349.2383.9368.7373.9375.1373.9377.3373.9365.7
Hungary82.382.591.9100.6101.2107.1101.298.594.894.2
India83.891.599.489.190.188.090.190.392.991.9
Indonesia43.142.944.241.840.140.640.138.738.939.5
Ireland264.7235.2215.7192.2172.8183.4172.8161.8159.3165.3
Israel110.0109.4112.9114.9113.4114.5113.4112.8112.8111.7
Italy110.4109.4122.3114.9108.5109.7108.5106.1105.2102.8
Japan159.4164.4183.3183.7186.1185.1186.1184.0182.0181.2
Korea187.4196.2212.8219.6225.6225.2225.6224.5225.6225.5
Luxembourg382.0395.4409.0415.1383.4386.3383.4382.6377.6380.8
Malaysia164.0164.2181.8174.7154.5156.7154.5153.7156.1157.6
Mexico40.740.042.940.438.839.338.837.737.237.4
Netherlands263.8249.9253.0239.9224.7235.1224.7214.9211.0209.7
New Zealand172.8170.6174.4170.3165.5167.3165.5162.9162.1160.6
Norway231.8245.9277.7239.9201.5200.6201.5206.0212.9227.0
Poland81.578.880.775.967.271.167.265.163.062.7
Portugal167.1160.9176.6169.4152.7157.1152.7147.6143.7142.1
Russia98.198.7114.299.193.188.993.196.498.2101.8
Saudi Arabia54.358.678.575.366.167.766.166.970.573.3
Singapore199.0209.9231.8202.4168.5169.7168.5164.8175.5174.7
South Africa72.072.573.265.867.467.167.467.866.467.2
Spain154.0149.7170.2160.9144.5149.8144.5138.9135.1131.2
Sweden241.2250.1265.0270.6268.4267.4268.4243.4243.8236.7
Switzerland244.0265.4276.0279.3272.3279.3272.3274.4272.9272.6
Thailand158.9159.5181.1184.3178.6180.2178.6177.6178.0178.1
Türkiye82.579.689.389.366.371.366.363.367.362.4
United Kingdom158.5157.0176.6163.9151.5154.2151.5150.1145.9144.9
United States153.5153.3164.7160.4156.0156.9156.0154.4153.1151.5
Memo:
Euro area159.2158.5172.3165.6157.8161.3157.8154.2152.3150.7
 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