# Private non-financial credit-to-GDP gap in New Zealand

Private non-financial credit-to-GDP gap in New Zealand was -7.72 percentage points in Q1 2026 (estimated). Source: Bank for International Settlements.

- Indicator id: `private_nonfinancial_credit_gap`
- Place id: `nz`
- 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/new-zealand
- API: https://invokely.ai/api/v1/series?indicator=private_nonfinancial_credit_gap&place=nz

| Period | percentage points |
|---|---:|
| 2026-Q1 | -7.72 (estimated) |
| 2025-Q4 | -7.31 (estimated) |
| 2025-Q3 | -7.51 (estimated) |
| 2025-Q2 | -9.23 (estimated) |
| 2025-Q1 | -10.65 (estimated) |
| 2024-Q4 | -11.77 (estimated) |
| 2024-Q3 | -13.15 (estimated) |
| 2024-Q2 | -14.7 (estimated) |
| 2024-Q1 | -15.67 (estimated) |
| 2023-Q4 | -16.25 (estimated) |
| 2023-Q3 | -17.16 (estimated) |
| 2023-Q2 | -16.14 (estimated) |
| 2023-Q1 | -16.48 (estimated) |
| 2022-Q4 | -13.82 (estimated) |
| 2022-Q3 | -13.24 (estimated) |
| 2022-Q2 | -11.19 (estimated) |
| 2022-Q1 | -11.05 (estimated) |
| 2021-Q4 | -11.1 (estimated) |
| 2021-Q3 | -11.4 (estimated) |
| 2021-Q2 | -12.82 (estimated) |
| 2021-Q1 | -8.82 (estimated) |
| 2020-Q4 | -9.74 (estimated) |
| 2020-Q3 | -11.09 (estimated) |
| 2020-Q2 | -10.46 (estimated) |
| 2020-Q1 | -13.42 (estimated) |
| 2019-Q4 | -15.35 (estimated) |
| 2019-Q3 | -14.77 (estimated) |
| 2019-Q2 | -15.01 (estimated) |
| 2019-Q1 | -15.98 (estimated) |
| 2018-Q4 | -15.78 (estimated) |
| 2018-Q3 | -16.87 (estimated) |
| 2018-Q2 | -17.02 (estimated) |
| 2018-Q1 | -17.48 (estimated) |
| 2017-Q4 | -17.18 (estimated) |
| 2017-Q3 | -17.08 (estimated) |
| 2017-Q2 | -16.71 (estimated) |
| 2017-Q1 | -16.69 (estimated) |
| 2016-Q4 | -16.27 (estimated) |
| 2016-Q3 | -16.14 (estimated) |
| 2016-Q2 | -17.7 (estimated) |
| 2016-Q1 | -18.28 (estimated) |
| 2015-Q4 | -19.43 (estimated) |
| 2015-Q3 | -19.78 (estimated) |
| 2015-Q2 | -20.74 (estimated) |
| 2015-Q1 | -21.39 (estimated) |
| 2014-Q4 | -22.57 (estimated) |
| 2014-Q3 | -23.91 (estimated) |
| 2014-Q2 | -24.31 (estimated) |
| 2014-Q1 | -23.84 (estimated) |
| 2013-Q4 | -22.78 (estimated) |
| 2013-Q3 | -20.16 (estimated) |
| 2013-Q2 | -19.2 (estimated) |
| 2013-Q1 | -19.68 (estimated) |
| 2012-Q4 | -19.99 (estimated) |
| 2012-Q3 | -21.57 (estimated) |
| 2012-Q2 | -22.13 (estimated) |
| 2012-Q1 | -21.35 (estimated) |
| 2011-Q4 | -21.24 (estimated) |
| 2011-Q3 | -18.13 (estimated) |
| 2011-Q2 | -15.22 (estimated) |
| 2011-Q1 | -13.15 (estimated) |
| 2010-Q4 | -11.37 (estimated) |
| 2010-Q3 | -8.8 (estimated) |
| 2010-Q2 | -5.39 (estimated) |
| 2010-Q1 | -1.82 (estimated) |
| 2009-Q4 | 1.11 (estimated) |
| 2009-Q3 | 5.6 (estimated) |
| 2009-Q2 | 9.38 (estimated) |
| 2009-Q1 | 12.16 (estimated) |
| 2008-Q4 | 12.04 (estimated) |
| 2008-Q3 | 11.71 (estimated) |
| 2008-Q2 | 11.06 (estimated) |
| 2008-Q1 | 10.53 (estimated) |
| 2007-Q4 | 11.66 (estimated) |
| 2007-Q3 | 12.86 (estimated) |
| 2007-Q2 | 15.19 (estimated) |
| 2007-Q1 | 14.77 (estimated) |
| 2006-Q4 | 12.81 (estimated) |
| 2006-Q3 | 13.24 (estimated) |
| 2006-Q2 | 12.1 (estimated) |
| 2006-Q1 | 9.2 (estimated) |
| 2005-Q4 | 8.76 (estimated) |
| 2005-Q3 | 5.23 (estimated) |
| 2005-Q2 | 3.87 (estimated) |
| 2005-Q1 | 2.93 (estimated) |
| 2004-Q4 | 0.99 (estimated) |
| 2004-Q3 | -3.25 (estimated) |
| 2004-Q2 | -0.97 (estimated) |
| 2004-Q1 | -4.45 (estimated) |
| 2003-Q4 | -4.7 (estimated) |
| 2003-Q3 | -4.39 (estimated) |
| 2003-Q2 | -3.41 (estimated) |
| 2003-Q1 | -2.95 (estimated) |
| 2002-Q4 | -3.08 (estimated) |
| 2002-Q3 | -3.56 (estimated) |
| 2002-Q2 | -3.34 (estimated) |
| 2002-Q1 | -2.11 (estimated) |
| 2001-Q4 | -3.4 (estimated) |
| 2001-Q3 | -3.17 (estimated) |
| 2001-Q2 | 4.86 (estimated) |
| 2001-Q1 | 5.19 (estimated) |
| 2000-Q4 | 3.95 (estimated) |
| 2000-Q3 | 3.73 (estimated) |
| 2000-Q2 | 4.36 (estimated) |
| 2000-Q1 | 4.87 (estimated) |
| 1999-Q4 | 3.45 (estimated) |
| 1999-Q3 | 1.19 (estimated) |
| 1999-Q2 | 0.91 (estimated) |
| 1999-Q1 | 3.15 (estimated) |
| 1998-Q4 | 5.26 (estimated) |
| 1998-Q3 | 5.34 (estimated) |
| 1998-Q2 | 4.52 (estimated) |
| 1998-Q1 | 2.67 (estimated) |
| 1997-Q4 | 6.38 (estimated) |
| 1997-Q3 | 1.18 (estimated) |
| 1997-Q2 | -0.65 (estimated) |
| 1997-Q1 | -1.75 (estimated) |
| 1996-Q4 | -1.41 (estimated) |
| 1996-Q3 | -3.33 (estimated) |
| 1996-Q2 | 2.34 (estimated) |
| 1996-Q1 | 0.8 (estimated) |
| 1995-Q4 | 4.26 (estimated) |
| 1995-Q3 | -2.1 (estimated) |
| 1995-Q2 | -1.31 (estimated) |
| 1995-Q1 | -2.97 (estimated) |
| 1994-Q4 | -2.92 (estimated) |
| 1994-Q3 | -2.17 (estimated) |
| 1994-Q2 | -2.04 (estimated) |
| 1994-Q1 | 1.15 (estimated) |
| 1993-Q4 | 0.28 (estimated) |
| 1993-Q3 | -2.27 (estimated) |
| 1993-Q2 | -2.61 (estimated) |
| 1993-Q1 | -3.17 (estimated) |
| 1992-Q4 | 0.35 (estimated) |
| 1992-Q3 | 1.48 (estimated) |
| 1992-Q2 | -1.18 (estimated) |
| 1992-Q1 | 1.21 (estimated) |
| 1991-Q4 | 1.03 (estimated) |
| 1991-Q3 | 3.09 (estimated) |
| 1991-Q2 | 4.38 (estimated) |
| 1991-Q1 | 1.22 (estimated) |
| 1990-Q4 | -0.44 (estimated) |
| 1990-Q3 | -0.85 (estimated) |
| 1990-Q2 | -1.99 (estimated) |
| 1990-Q1 | -0.7 (estimated) |
| 1989-Q4 | -0.44 (estimated) |
| 1989-Q3 | -1.71 (estimated) |
| 1989-Q2 | -1.71 (estimated) |
| 1989-Q1 | 2.91 (estimated) |
| 1988-Q4 | 5.64 (estimated) |
| 1988-Q3 | 3.17 (estimated) |
| 1988-Q2 | 9.55 (estimated) |
| 1988-Q1 | 16.18 (estimated) |
| 1987-Q4 | 14.84 (estimated) |
| 1987-Q3 | 16.82 (estimated) |
| 1987-Q2 | 19.1 (estimated) |
| 1987-Q1 | 21.47 (estimated) |
| 1986-Q4 | 22.01 (estimated) |
| 1986-Q3 | 25.25 (estimated) |
| 1986-Q2 | 24.1 (estimated) |
| 1986-Q1 | 26.43 (estimated) |
| 1985-Q4 | 21.91 (estimated) |
| 1985-Q3 | 19.54 (estimated) |
| 1985-Q2 | 19.82 (estimated) |
| 1985-Q1 | 18.7 (estimated) |
| 1984-Q4 | 18.61 (estimated) |
| 1984-Q3 | 20.44 (estimated) |
| 1984-Q2 | 12.46 (estimated) |
| 1984-Q1 | 9.91 (estimated) |
| 1983-Q4 | 15.58 (estimated) |
| 1983-Q3 | 6.68 (estimated) |
| 1983-Q2 | 6.11 (estimated) |
| 1983-Q1 | 5.67 (estimated) |
| 1982-Q4 | 6.81 (estimated) |
| 1982-Q3 | 6.46 (estimated) |
| 1982-Q2 | 9.55 (estimated) |
| 1982-Q1 | 7.2 (estimated) |
| 1981-Q4 | 8.84 (estimated) |
| 1981-Q3 | 7.82 (estimated) |
| 1981-Q2 | 7.33 (estimated) |
| 1981-Q1 | 5.7 (estimated) |
| 1980-Q4 | 4.58 (estimated) |
| 1980-Q3 | 3.25 (estimated) |
| 1980-Q2 | 3.09 (estimated) |
| 1980-Q1 | 5.1 (estimated) |
| 1979-Q4 | 4.8 (estimated) |
| 1979-Q3 | 5.13 (estimated) |
| 1979-Q2 | 5.33 (estimated) |
| 1979-Q1 | 4.18 (estimated) |
| 1978-Q4 | 4.58 (estimated) |
| 1978-Q3 | 4.21 (estimated) |
| 1978-Q2 | 4.2 (estimated) |
| 1978-Q1 | 3.6 (estimated) |
| 1977-Q4 | 1.4 (estimated) |
| 1977-Q3 | 2.58 (estimated) |
| 1977-Q2 | 2.59 (estimated) |
| 1977-Q1 | 4.11 (estimated) |
| 1976-Q4 | 1.79 (estimated) |
| 1976-Q3 | 1.68 (estimated) |
| 1976-Q2 | 0.68 (estimated) |
| 1976-Q1 | 3.32 (estimated) |
| 1975-Q4 | 3.3 (estimated) |
| 1975-Q3 | 3.91 (estimated) |
| 1975-Q2 | 3.77 (estimated) |
| 1975-Q1 | 5.42 (estimated) |
| 1974-Q4 | 4.03 (estimated) |
| 1974-Q3 | 5.29 (estimated) |
| 1974-Q2 | 6.09 (estimated) |
| 1974-Q1 | 6.53 (estimated) |
| 1973-Q4 | 2.97 (estimated) |
| 1973-Q3 | 3.47 (estimated) |
| 1973-Q2 | 2.67 (estimated) |
| 1973-Q1 | 1.65 (estimated) |
| 1972-Q4 | -1.08 (estimated) |
| 1972-Q3 | -1.67 (estimated) |
| 1972-Q2 | -2.47 (estimated) |
| 1972-Q1 | 0.25 (estimated) |
| 1971-Q4 | -1.68 (estimated) |
| 1971-Q3 | -0.62 (estimated) |
| 1971-Q2 | 0.95 (estimated) |
| 1971-Q1 | 3.18 (estimated) |
| 1970-Q4 | 0.44 (estimated) |