> CTG > Table J-C > Change measure  A B  Structure Help
Credit-to-GDP gaps (actual-trend)  1
Based on total credit to the private non-financial sector, as % of GDP  2
«  Q2 2018 › »
Year Quarter
2013 2014 2015 2016 2017 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18
Argentina0.7-0.72.02.25.23.04.15.25.37.8
Australia-7.8-4.03.0-0.6-8.1-5.5-8.2-8.1-7.9-9.4
Austria-4.6-9.7-9.5-7.8-9.0-9.2-9.0-9.0-9.5-9.6
Belgium-1.6-7.2-8.55.2-11.6-3.4-8.2-11.6-11.9-12.3
Brazil7.87.69.50.9-3.2-2.8-1.8-3.2-3.7-5.0
Canada7.85.115.313.09.311.89.89.37.97.5
Chile8.014.719.311.82.28.65.12.2-0.30.8
China17.820.219.517.16.714.010.96.715.512.3
Colombia8.611.613.18.53.76.14.73.72.72.2
Czech Republic19.711.34.42.8-0.11.30.3-0.1-1.0-0.1
Denmark-14.5-16.7-19.0-25.2-31.9-30.3-31.8-31.9-31.4-29.9
Finland7.99.710.2-4.2-5.2-4.8-4.2-5.2-5.4-4.7
France2.74.25.46.84.76.85.64.73.33.2
Germany-7.2-8.6-6.8-5.0-2.5-3.3-2.4-2.5-2.1-0.5
Greece0.2-5.9-11.1-15.2-22.9-18.7-20.9-22.9-25.5-26.3
Hong Kong SAR33.238.624.521.130.632.730.530.629.822.7
Hungary-14.7-18.2-25.5-26.9-31.5-29.6-30.0-31.5-31.1-27.2
India-0.1-3.3-3.8-8.1-8.6-8.9-7.8-8.6-6.4-8.0
Indonesia13.212.211.49.46.87.76.86.86.06.6
Ireland-20.2-24.1-18.9-48.6-87.0-70.7-80.4-87.0-100.2-98.7
Israel-16.2-15.9-14.6-11.4-9.3-10.7-8.6-9.3-7.2-6.5
Italy-4.3-8.6-13.9-16.8-18.0-17.2-18.4-18.0-18.1-17.5
Japan2.02.10.14.36.65.05.66.66.27.3
Korea1.42.21.7-0.2-2.4-0.5-1.3-2.4-1.8-0.9
Luxembourg-28.52.22.4-26.4-51.2-36.1-39.7-51.2-50.9-58.2
Malaysia5.87.711.49.74.16.23.94.14.85.0
Mexico6.36.37.78.56.35.35.46.34.85.3
Netherlands1.46.4-1.6-5.1-17.2-10.0-12.4-17.2-16.8-21.6
New Zealand-22.8-22.6-19.1-15.7-15.7-15.6-16.0-15.7-15.3-14.4
Norway-2.4-0.313.211.8-2.86.00.1-2.8-5.3-9.1
Poland0.40.2-1.2-1.0-7.6-4.4-5.9-7.6-7.3-7.3
Portugal-12.5-26.6-37.4-45.3-46.9-45.9-46.2-46.9-47.9-48.9
Russia-0.18.67.2-2.6-6.9-5.6-6.5-6.9-7.5-7.4
Saudi Arabia-3.40.311.39.92.66.94.62.60.7-0.6
Singapore21.423.319.615.113.614.311.113.611.05.4
South Africa-3.3-3.9-0.7-3.1-3.5-2.9-2.6-3.5-3.1-3.2
Spain-28.5-38.9-47.3-49.6-51.1-48.5-49.6-51.1-50.9-49.0
Sweden3.6-1.4-6.4-11.8-10.3-9.1-10.3-10.3-4.0-5.7
Switzerland9.45.95.69.713.911.713.013.913.612.7
Thailand15.516.115.410.96.68.16.46.65.55.4
Turkey13.310.89.89.85.17.85.25.14.15.7
United Kingdom-24.4-30.3-28.1-20.0-17.5-19.4-17.6-17.5-15.2-14.7
United States-15.5-14.5-12.8-9.3-7.2-8.1-7.7-7.2-7.7-6.6
Memo:
Euro area-8.6-8.3-7.9-8.9-12.6-10.3-11.7-12.6-12.8-12.7
 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