# Private non-financial credit-to-GDP gap in Luxembourg

Private non-financial credit-to-GDP gap in Luxembourg was -38.3 percentage points in Q1 2026 (estimated). Source: Bank for International Settlements.

- Indicator id: `private_nonfinancial_credit_gap`
- Place id: `lu`
- Unit: percentage points
- Definition: Difference in percentage points between private non-financial credit as a share of GDP and its long-run trend, estimated by the BIS with a one-sided, backward-looking Hodrick-Prescott filter. A level difference, not a percentage change.
- Note: BIS estimate. Can differ from the credit gap used by national authorities. It supports risk analysis; it is not an automatic lending or policy threshold.
- Source: Bank for International Settlements, BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap (https://stats.bis.org/api/v2/data/dataflow/BIS/WS_CREDIT_GAP/1.0/Q.AD+AE+AF+AG+AI+AL+AM+AO+AQ+AR+AS+AT+AU+AW+AX+AZ+BA+BB+BD+BE+BF+BG+BH+BI+BJ+BL+BM+BN+BO+BQ+BR+BS+BT+BV+BW+BY+BZ+CA+CC+CD+CF+CG+CH+CI+CK+CL+CM+CN+CO+CR+CU+CV+CW+CX+CY+CZ+DE+DJ+DK+DM+DO+DZ+EC+EE+EG+EH+ER+ES+ET+FI+FJ+FK+FM+FO+FR+GA+GB+GD+GE+GF+GG+GH+GI+GL+GM+GN+GP+GQ+GR+GS+GT+GU+GW+GY+HK+HM+HN+HR+HT+HU+ID+IE+IL+IM+IN+IO+IQ+IR+IS+IT+JE+JM+JO+JP+KE+KG+KH+KI+KM+KN+KP+KR+KW+KY+KZ+LA+LB+LC+LI+LK+LR+LS+LT+LU+LV+LY+MA+MC+MD+ME+MF+MG+MH+MK+ML+MM+MN+MO+MP+MQ+MR+MS+MT+MU+MV+MW+MX+MY+MZ+NA+NC+NE+NF+NG+NI+NL+NO+NP+NR+NU+NZ+OM+PA+PE+PF+PG+PH+PK+PL+PM+PN+PR+PS+PT+PW+PY+QA+RE+RO+RS+RU+RW+SA+SB+SC+SD+SE+SG+SH+SI+SJ+SK+SL+SM+SN+SO+SR+SS+ST+SV+SX+SY+SZ+TC+TD+TF+TG+TH+TJ+TK+TL+TM+TN+TO+TR+TT+TV+TW+TZ+UA+UG+UM+US+UY+UZ+VA+VC+VE+VG+VI+VN+VU+WF+WS+YE+YT+ZA+ZM+ZW.P.A.C?format=csv&startPeriod=1970-Q1)
- Publisher page: https://invokely.ai/en/publishers/bis
- Retrieved: 2026-10-12
- License: BIS terms for statistics: attribution required; inclusion in commercial products must not add a charge to users; other conditions apply
- Citation: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. https://stats.bis.org/api/v2/data/dataflow/BIS/WS_CREDIT_GAP/1.0/Q.AD+AE+AF+AG+AI+AL+AM+AO+AQ+AR+AS+AT+AU+AW+AX+AZ+BA+BB+BD+BE+BF+BG+BH+BI+BJ+BL+BM+BN+BO+BQ+BR+BS+BT+BV+BW+BY+BZ+CA+CC+CD+CF+CG+CH+CI+CK+CL+CM+CN+CO+CR+CU+CV+CW+CX+CY+CZ+DE+DJ+DK+DM+DO+DZ+EC+EE+EG+EH+ER+ES+ET+FI+FJ+FK+FM+FO+FR+GA+GB+GD+GE+GF+GG+GH+GI+GL+GM+GN+GP+GQ+GR+GS+GT+GU+GW+GY+HK+HM+HN+HR+HT+HU+ID+IE+IL+IM+IN+IO+IQ+IR+IS+IT+JE+JM+JO+JP+KE+KG+KH+KI+KM+KN+KP+KR+KW+KY+KZ+LA+LB+LC+LI+LK+LR+LS+LT+LU+LV+LY+MA+MC+MD+ME+MF+MG+MH+MK+ML+MM+MN+MO+MP+MQ+MR+MS+MT+MU+MV+MW+MX+MY+MZ+NA+NC+NE+NF+NG+NI+NL+NO+NP+NR+NU+NZ+OM+PA+PE+PF+PG+PH+PK+PL+PM+PN+PR+PS+PT+PW+PY+QA+RE+RO+RS+RU+RW+SA+SB+SC+SD+SE+SG+SH+SI+SJ+SK+SL+SM+SN+SO+SR+SS+ST+SV+SX+SY+SZ+TC+TD+TF+TG+TH+TJ+TK+TL+TM+TN+TO+TR+TT+TV+TW+TZ+UA+UG+UM+US+UY+UZ+VA+VC+VE+VG+VI+VN+VU+WF+WS+YE+YT+ZA+ZM+ZW.P.A.C?format=csv&startPeriod=1970-Q1. Retrieved 2026-10-12.
- Web page: https://invokely.ai/en/private-nonfinancial-credit-gap/luxembourg
- API: https://invokely.ai/api/v1/series?indicator=private_nonfinancial_credit_gap&place=lu

| Period | percentage points |
|---|---:|
| 2026-Q1 | -38.3 (estimated) |
| 2025-Q4 | -29.36 (estimated) |
| 2025-Q3 | -66.97 (estimated) |
| 2025-Q2 | -44.38 (estimated) |
| 2025-Q1 | -42.88 (estimated) |
| 2024-Q4 | -35.74 (estimated) |
| 2024-Q3 | -38.61 (estimated) |
| 2024-Q2 | -36.79 (estimated) |
| 2024-Q1 | -30.47 (estimated) |
| 2023-Q4 | -18.74 (estimated) |
| 2023-Q3 | -17.16 (estimated) |
| 2023-Q2 | -8.92 (estimated) |
| 2023-Q1 | 3.16 (estimated) |
| 2022-Q4 | 8.51 (estimated) |
| 2022-Q3 | 10.23 (estimated) |
| 2022-Q2 | 4.74 (estimated) |
| 2022-Q1 | -9.79 (estimated) |
| 2021-Q4 | -2.4 (estimated) |
| 2021-Q3 | -8.6 (estimated) |
| 2021-Q2 | -4.65 (estimated) |
| 2021-Q1 | 4.26 (estimated) |
| 2020-Q4 | 6 (estimated) |
| 2020-Q3 | 6.82 (estimated) |
| 2020-Q2 | 20.51 (estimated) |
| 2020-Q1 | 7.82 (estimated) |
| 2019-Q4 | 4.69 (estimated) |
| 2019-Q3 | 11.65 (estimated) |
| 2019-Q2 | 15.92 (estimated) |
| 2019-Q1 | 13.38 (estimated) |
| 2018-Q4 | 7.51 (estimated) |
| 2018-Q3 | -17.25 (estimated) |
| 2018-Q2 | -25.09 (estimated) |
| 2018-Q1 | -11.5 (estimated) |
| 2017-Q4 | -21.21 (estimated) |
| 2017-Q3 | -26.81 (estimated) |
| 2017-Q2 | -17.99 (estimated) |
| 2017-Q1 | -32.44 (estimated) |
| 2016-Q4 | -27.85 (estimated) |
| 2016-Q3 | 2.24 (estimated) |
| 2016-Q2 | -18.8 (estimated) |
| 2016-Q1 | -3.54 (estimated) |
| 2015-Q4 | -2.79 (estimated) |
| 2015-Q3 | -13.9 (estimated) |
| 2015-Q2 | 18.75 (estimated) |
| 2015-Q1 | 27.96 (estimated) |
| 2014-Q4 | 17.52 (estimated) |
| 2014-Q3 | -15.83 (estimated) |
| 2014-Q2 | -16.3 (estimated) |
| 2014-Q1 | -12.17 (estimated) |
| 2013-Q4 | -12.59 (estimated) |
| 2013-Q3 | -8.47 (estimated) |
| 2013-Q2 | -4.41 (estimated) |
| 2013-Q1 | 0.91 (estimated) |
| 2012-Q4 | 6.48 (estimated) |
| 2012-Q3 | 10.91 (estimated) |
| 2012-Q2 | 10.8 (estimated) |
| 2012-Q1 | 10.91 (estimated) |
| 2011-Q4 | 2.61 (estimated) |
| 2011-Q3 | -2.38 (estimated) |
| 2011-Q2 | -4.24 (estimated) |
| 2011-Q1 | -13.41 (estimated) |
| 2010-Q4 | -13.06 (estimated) |
| 2010-Q3 | -0.9 (estimated) |
| 2010-Q2 | 13.52 (estimated) |
| 2010-Q1 | 31.92 (estimated) |
| 2009-Q4 | 50.48 (estimated) |
| 2009-Q3 | 59.68 (estimated) |
| 2009-Q2 | 55.59 (estimated) |
| 2009-Q1 | 47.88 (estimated) |
| 2008-Q4 | 42.32 (estimated) |
| 2008-Q3 | 52.1 (estimated) |
| 2008-Q2 | 63.27 (estimated) |
| 2008-Q1 | 75.24 (estimated) |
| 2007-Q4 | 90.04 (estimated) |
| 2007-Q3 | 71.78 (estimated) |
| 2007-Q2 | 51.99 (estimated) |
| 2007-Q1 | 30.2 (estimated) |
| 2006-Q4 | 1.1 (estimated) |
| 2006-Q3 | -2.14 (estimated) |
| 2006-Q2 | -3.05 (estimated) |
| 2006-Q1 | -2.84 (estimated) |
| 2005-Q4 | -1.63 (estimated) |
| 2005-Q3 | 5.78 (estimated) |
| 2005-Q2 | 8.57 (estimated) |
| 2005-Q1 | 10.81 (estimated) |