Data / Rankings / Non-financial corporate credit as a share of GDP / Countries

Countries by non-financial corporate credit as a share of GDP

Luxembourg had the highest non-financial corporate credit as a share of GDP of 43 countries in Q2 2024, at 388.3% of GDP. Argentina had the lowest, at 21% of GDP. The median was 83.1% of GDP. Source: the Bank for International Settlements.

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Highest388.3Luxembourg
Lowest21Argentina
Median83.143 countries

Map of countries, Q2 2024

Argentina: 21 % of GDPAustria: 89.5 % of GDPAustralia: 59.4 % of GDPBelgium: 124.1 % of GDPBrazil: 53.6 % of GDPCanada: 118.3 % of GDPSwitzerland: 138.2 % of GDPChile: 96.3 % of GDPChina: 137.9 % of GDPColombia: 30.05 % of GDPCzechia: 55.9 % of GDPGermany: 87.7 % of GDPDenmark: 136.4 % of GDPSpain: 83.1 % of GDPFinland: 117.1 % of GDPFrance: 152.8 % of GDPUnited Kingdom: 64 % of GDPGreece: 53.1 % of GDPHong Kong: 249.5 % of GDPHungary: 78.4 % of GDPIndonesia: 24 % of GDPIreland: 124.8 % of GDPIsrael: 68.7 % of GDPIndia: 50.4 % of GDPItaly: 59.5 % of GDPJapan: 112 % of GDPSouth Korea: 111.4 % of GDPLuxembourg: 388.3 % of GDPMexico: 21.4 % of GDPMalaysia: 88.5 % of GDPNetherlands: 182.1 % of GDPNorway: 137 % of GDPNew Zealand: 69.5 % of GDPPoland: 35.8 % of GDPPortugal: 80.2 % of GDPRussia: 75.3 % of GDPSaudi Arabia: 37.7 % of GDPSweden: 164.8 % of GDPSingapore: 124.6 % of GDPThailand: 84.3 % of GDPTürkiye: 40.1 % of GDPUnited States: 74.5 % of GDPSouth Africa: 33.1 % of GDP
  • Under 40
  • 40 to 64
  • 64 to 83
  • 83 to 110
  • 110 to 140
  • 140 and over
  • No data
% of GDP, Q2 2024. Hatched areas have no value for this period. Source: BIS, BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. Boundaries: Natural Earth (public domain).

All countries, Q2 2024

Luxembourg: 388.3 % of GDPLuxembourg388.3Hong Kong: 249.5 % of GDPHong Kong249.5Netherlands: 182.1 % of GDPNetherlands182.1Sweden: 164.8 % of GDPSweden164.8France: 152.8 % of GDPFrance152.8Switzerland: 138.2 % of GDPSwitzerland138.2China: 137.9 % of GDPChina137.9Norway: 137 % of GDPNorway137Denmark: 136.4 % of GDPDenmark136.4Ireland: 124.8 % of GDPIreland124.8Singapore: 124.6 % of GDPSingapore124.6Belgium: 124.1 % of GDPBelgium124.1Canada: 118.3 % of GDPCanada118.3Finland: 117.1 % of GDPFinland117.1Japan: 112 % of GDPJapan112South Korea: 111.4 % of GDPSouth Korea111.4Chile: 96.3 % of GDPChile96.3Austria: 89.5 % of GDPAustria89.5Malaysia: 88.5 % of GDPMalaysia88.5Germany: 87.7 % of GDPGermany87.7Thailand: 84.3 % of GDPThailand84.3Spain: 83.1 % of GDPSpain83.1Portugal: 80.2 % of GDPPortugal80.2Hungary: 78.4 % of GDPHungary78.4Russia: 75.3 % of GDPRussia75.3United States: 74.5 % of GDPUnited States74.5New Zealand: 69.5 % of GDPNew Zealand69.5Israel: 68.7 % of GDPIsrael68.7United Kingdom: 64 % of GDPUnited Kingdom64Italy: 59.5 % of GDPItaly59.5Australia: 59.4 % of GDPAustralia59.4Czechia: 55.9 % of GDPCzechia55.9Brazil: 53.6 % of GDPBrazil53.6Greece: 53.1 % of GDPGreece53.1India: 50.4 % of GDPIndia50.4Türkiye: 40.1 % of GDPTürkiye40.1Saudi Arabia: 37.7 % of GDPSaudi Arabia37.7Poland: 35.8 % of GDPPoland35.8South Africa: 33.1 % of GDPSouth Africa33.1Colombia: 30.05 % of GDPColombia30.05Indonesia: 24 % of GDPIndonesia24Mexico: 21.4 % of GDPMexico21.4Argentina: 21 % of GDPArgentina21Luxembourg: 388.3 % of GDPLuxembourg388.3Hong Kong: 249.5 % of GDPHong Kong249.5Netherlands: 182.1 % of GDPNetherlands182.1Sweden: 164.8 % of GDPSweden164.8France: 152.8 % of GDPFrance152.8Switzerland: 138.2 % of GDPSwitzerland138.2China: 137.9 % of GDPChina137.9Norway: 137 % of GDPNorway137Denmark: 136.4 % of GDPDenmark136.4Ireland: 124.8 % of GDPIreland124.8Singapore: 124.6 % of GDPSingapore124.6Belgium: 124.1 % of GDPBelgium124.1Canada: 118.3 % of GDPCanada118.3Finland: 117.1 % of GDPFinland117.1Japan: 112 % of GDPJapan112South Korea: 111.4 % of GDPSouth Korea111.4Chile: 96.3 % of GDPChile96.3Austria: 89.5 % of GDPAustria89.5Malaysia: 88.5 % of GDPMalaysia88.5Germany: 87.7 % of GDPGermany87.7Thailand: 84.3 % of GDPThailand84.3Spain: 83.1 % of GDPSpain83.1Portugal: 80.2 % of GDPPortugal80.2Hungary: 78.4 % of GDPHungary78.4Russia: 75.3 % of GDPRussia75.3United States: 74.5 % of GDPUnited States74.5New Zealand: 69.5 % of GDPNew Zealand69.5Israel: 68.7 % of GDPIsrael68.7United Kingdom: 64 % of GDPUnited Kingdom64Italy: 59.5 % of GDPItaly59.5Australia: 59.4 % of GDPAustralia59.4Czechia: 55.9 % of GDPCzechia55.9Brazil: 53.6 % of GDPBrazil53.6Greece: 53.1 % of GDPGreece53.1India: 50.4 % of GDPIndia50.4Türkiye: 40.1 % of GDPTürkiye40.1Saudi Arabia: 37.7 % of GDPSaudi Arabia37.7Poland: 35.8 % of GDPPoland35.8South Africa: 33.1 % of GDPSouth Africa33.1Colombia: 30.05 % of GDPColombia30.05Indonesia: 24 % of GDPIndonesia24Mexico: 21.4 % of GDPMexico21.4Argentina: 21 % of GDPArgentina21
% of GDP. Source: BIS, BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. Retrieved 2026-10-12.

Full ranking

RankCountriesQ2 2024
% of GDP		Change on Q2 2023
1Luxembourg Estimated388.3-14.3 pts
2Hong Kong Estimated249.5-28.1 pts
3Netherlands Estimated182.1-6.8 pts
4Sweden Estimated164.8+0.3 pts
5France Estimated152.8-3.5 pts
6Switzerland Estimated138.2-0.4 pts
7China Estimated137.9+5.1 pts
8Norway Estimated137+9.4 pts
9Denmark Estimated136.4+6 pts
10Ireland Estimated124.8-10.1 pts
11Singapore Estimated124.6-1.9 pts
12Belgium Estimated124.1+1.4 pts
13Canada Estimated118.3+0.6 pts
14Finland Estimated117.1-2.2 pts
15Japan Estimated112-0.5 pts
16South Korea Estimated111.4-2.8 pts
17Chile Estimated96.3+5.4 pts
18Austria Estimated89.5-2.7 pts
19Malaysia Estimated88.5+0.2 pts
20Germany Estimated87.7-2.7 pts
21Thailand Estimated84.3-1.6 pts
22Spain Estimated83.1-3.2 pts
23Portugal Estimated80.2-5.6 pts
24Hungary Estimated78.4+0.1 pts
25Russia Estimated75.3-1.1 pts
26United States Estimated74.5-2.8 pts
27New Zealand Estimated69.5-1.4 pts
28Israel Estimated68.7-1.8 pts
29United Kingdom Estimated64-0.1 pts
30Italy Estimated59.5-3.6 pts
31Australia Estimated59.4+0.6 pts
32Czechia Estimated55.9+3.3 pts
33Brazil Estimated53.6+3.7 pts
34Greece Estimated53.1+0.1 pts
35India Estimated50.4+0.7 pts
36Türkiye Estimated40.1-12.8 pts
37Saudi Arabia Estimated37.7+3.2 pts
38Poland Estimated35.8-1.4 pts
39South Africa Estimated33.1-0.6 pts
40Colombia Estimated30.05-1.15 pts
41Indonesia Estimated24+1.2 pts
42Mexico Estimated21.4+0.5 pts
43Argentina Estimated21+2.3 pts

Other periods

About this ranking

Quarter-end gross core debt of public and private non-financial corporations from all lender sectors, divided by nominal GDP over the latest four quarters, in percent.

BIS core debt: loans and debt securities, plus currency and deposits for government. Includes domestic and foreign lenders. Households include non-profit institutions serving households; corporations include public and private non-financial corporations. Gross debt: financial assets are not deducted. Private sectors are unconsolidated; government is consolidated. Market valuation follows national sources; US private debt securities use face value. BIS break adjustments and some historical estimates are retained. Unlike World Bank domestic private credit, it excludes trade credit and covers all lender sectors. Not seasonally adjusted.

Every value in the ranking comes from the same publisher and the same period, so the countries are compared on one definition. Equal values share a rank.

How to cite

Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1. Retrieved 2026-10-12.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

Bank for International Settlements. (n.d.). BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp (Countries by non-financial corporate credit as a share of GDP, 2024-Q2) [Data set]. Retrieved October 12, 2026, from https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1

MLA 9

BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp, Countries by non-financial corporate credit as a share of GDP, 2024-Q2. Bank for International Settlements, https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1. Invokely, https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2. Accessed 12 Oct. 2026.

Chicago (author-date)

Bank for International Settlements. n.d. BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. Countries by non-financial corporate credit as a share of GDP, 2024-Q2. Dataset. Accessed October 12, 2026. https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1. Also distributed by Invokely, https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2.

Harvard

Bank for International Settlements (no date) BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp, Countries by non-financial corporate credit as a share of GDP, 2024-Q2 [Dataset]. Available at: https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1, via Invokely: https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2 (Accessed: 12 October 2026).

BibTeX
@misc{bank_countries_by_non_financial_2026,
  author = {{Bank for International Settlements}},
  title = {{BIS WS\_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp: Countries by non-financial corporate credit as a share of GDP, 2024-Q2}},
  howpublished = {Data set},
  url = {https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2. Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS\_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. https://stats.bis.org/api/v2/data/dataflow/BIS/WS\_TC/2.0/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.N.A.M.770.A?format=csv\&startPeriod=1970-Q1. Retrieved 2026-10-12.},
}
RIS
TY  - DATA
AU  - Bank for International Settlements
TI  - BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp: Countries by non-financial corporate credit as a share of GDP, 2024-Q2
PB  - Bank for International Settlements
DB  - Invokely
UR  - https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1
L2  - https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/nonfinancial-corporate-credit-gdp/countries?period=2024-Q2.
N1  - Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. https://stats.bis.org/api/v2/data/dataflow/BIS/WS_TC/2.0/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.N.A.M.770.A?format=csv&startPeriod=1970-Q1. Retrieved 2026-10-12.
ER  -
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Rank Countries by non-financial corporate credit as a share of GDP using official data, and cite the source.
rank_places {"indicator":"nonfinancial_corporate_credit_gdp","level":"country","limit":10}
GET https://invokely.ai/api/v1/rank?indicator=nonfinancial_corporate_credit_gdp&level=country&limit=10

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Questions

Which country has the highest non-financial corporate credit as a share of GDP?

Luxembourg, with 388.3% of GDP in Q2 2024, according to the Bank for International Settlements.

Which country has the lowest non-financial corporate credit as a share of GDP?

Argentina, with 21% of GDP in Q2 2024.

Where does this ranking come from?

Every value comes from one source and one period, so the places are comparable: Bank for International Settlements, BIS WS_TC: N.A.M.770.A, quarterly, nonfinancial corporate credit gdp. Retrieved 2026-10-12.

Non-financial corporate credit as a share of GDP: other rankings

Countries: more rankings