Data / Rankings / Private non-financial credit-to-GDP gap / Countries

Countries by private non-financial credit-to-GDP gap

Japan had the highest private non-financial credit-to-GDP gap of 43 countries in Q2 2023, at 13.74 percentage points. Ireland had the lowest, at -96.55 percentage points. The median was -12.35 percentage points. Source: the Bank for International Settlements.

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Highest13.74Japan
Lowest-96.55Ireland
Median-12.3543 countries

Map of countries, Q2 2023

Argentina: -0.06 percentage pointsAustria: -12.65 percentage pointsAustralia: -26.35 percentage pointsBelgium: -42.01 percentage pointsBrazil: -2.33 percentage pointsCanada: -14.96 percentage pointsSwitzerland: -6.96 percentage pointsChile: -18.21 percentage pointsChina: -7.48 percentage pointsColombia: -7.07 percentage pointsCzechia: -7.09 percentage pointsGermany: 0.44 percentage pointsDenmark: -43.02 percentage pointsSpain: -36.81 percentage pointsFinland: -15.24 percentage pointsFrance: -8.48 percentage pointsUnited Kingdom: -22.82 percentage pointsGreece: -34.98 percentage pointsHong Kong: -10.65 percentage pointsHungary: -6.03 percentage pointsIndonesia: -1.99 percentage pointsIreland: -96.55 percentage pointsIsrael: -0.52 percentage pointsIndia: -12.35 percentage pointsItaly: -17.98 percentage pointsJapan: 13.74 percentage pointsSouth Korea: 8.37 percentage pointsLuxembourg: -8.92 percentage pointsMexico: -4.7 percentage pointsMalaysia: -9.16 percentage pointsNetherlands: -55.03 percentage pointsNorway: -39.45 percentage pointsNew Zealand: -16.14 percentage pointsPoland: -22.78 percentage pointsPortugal: -39.37 percentage pointsRussia: -14.2 percentage pointsSaudi Arabia: -2.34 percentage pointsSweden: -22.01 percentage pointsSingapore: -33.52 percentage pointsThailand: 8.33 percentage pointsTürkiye: -24.19 percentage pointsUnited States: -8.74 percentage pointsSouth Africa: -7.41 percentage points
  • Under -22
  • -22 to -9
  • -9 to 0
  • 0 to 8
  • 8 and over
  • No data
percentage points, Q2 2023. Red areas are below zero and blue areas above it. Hatched areas have no value for this period. Source: BIS, BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. Boundaries: Natural Earth (public domain).

All countries, Q2 2023

Japan: 13.74 percentage pointsJapan13.74South Korea: 8.37 percentage pointsSouth Korea8.37Thailand: 8.33 percentage pointsThailand8.33Germany: 0.44 percentage pointsGermany0.44Argentina: -0.06 percentage pointsArgentina-0.06Israel: -0.52 percentage pointsIsrael-0.52Indonesia: -1.99 percentage pointsIndonesia-1.99Brazil: -2.33 percentage pointsBrazil-2.33Saudi Arabia: -2.34 percentage pointsSaudi Arabia-2.34Mexico: -4.7 percentage pointsMexico-4.7Hungary: -6.03 percentage pointsHungary-6.03Switzerland: -6.96 percentage pointsSwitzerland-6.96Colombia: -7.07 percentage pointsColombia-7.07Czechia: -7.09 percentage pointsCzechia-7.09South Africa: -7.41 percentage pointsSouth Africa-7.41China: -7.48 percentage pointsChina-7.48France: -8.48 percentage pointsFrance-8.48United States: -8.74 percentage pointsUnited States-8.74Luxembourg: -8.92 percentage pointsLuxembourg-8.92Malaysia: -9.16 percentage pointsMalaysia-9.16Hong Kong: -10.65 percentage pointsHong Kong-10.65India: -12.35 percentage pointsIndia-12.35Austria: -12.65 percentage pointsAustria-12.65Russia: -14.2 percentage pointsRussia-14.2Canada: -14.96 percentage pointsCanada-14.96Finland: -15.24 percentage pointsFinland-15.24New Zealand: -16.14 percentage pointsNew Zealand-16.14Italy: -17.98 percentage pointsItaly-17.98Chile: -18.21 percentage pointsChile-18.21Sweden: -22.01 percentage pointsSweden-22.01Poland: -22.78 percentage pointsPoland-22.78United Kingdom: -22.82 percentage pointsUnited Kingdom-22.82Türkiye: -24.19 percentage pointsTürkiye-24.19Australia: -26.35 percentage pointsAustralia-26.35Singapore: -33.52 percentage pointsSingapore-33.52Greece: -34.98 percentage pointsGreece-34.98Spain: -36.81 percentage pointsSpain-36.81Portugal: -39.37 percentage pointsPortugal-39.37Norway: -39.45 percentage pointsNorway-39.45Belgium: -42.01 percentage pointsBelgium-42.01Denmark: -43.02 percentage pointsDenmark-43.02Netherlands: -55.03 percentage pointsNetherlands-55.03Ireland: -96.55 percentage pointsIreland-96.55Japan: 13.74 percentage pointsJapan13.74South Korea: 8.37 percentage pointsSouth Korea8.37Thailand: 8.33 percentage pointsThailand8.33Germany: 0.44 percentage pointsGermany0.44Argentina: -0.06 percentage pointsArgentina-0.06Israel: -0.52 percentage pointsIsrael-0.52Indonesia: -1.99 percentage pointsIndonesia-1.99Brazil: -2.33 percentage pointsBrazil-2.33Saudi Arabia: -2.34 percentage pointsSaudi Arabia-2.34Mexico: -4.7 percentage pointsMexico-4.7Hungary: -6.03 percentage pointsHungary-6.03Switzerland: -6.96 percentage pointsSwitzerland-6.96Colombia: -7.07 percentage pointsColombia-7.07Czechia: -7.09 percentage pointsCzechia-7.09South Africa: -7.41 percentage pointsSouth Africa-7.41China: -7.48 percentage pointsChina-7.48France: -8.48 percentage pointsFrance-8.48United States: -8.74 percentage pointsUnited States-8.74Luxembourg: -8.92 percentage pointsLuxembourg-8.92Malaysia: -9.16 percentage pointsMalaysia-9.16Hong Kong: -10.65 percentage pointsHong Kong-10.65India: -12.35 percentage pointsIndia-12.35Austria: -12.65 percentage pointsAustria-12.65Russia: -14.2 percentage pointsRussia-14.2Canada: -14.96 percentage pointsCanada-14.96Finland: -15.24 percentage pointsFinland-15.24New Zealand: -16.14 percentage pointsNew Zealand-16.14Italy: -17.98 percentage pointsItaly-17.98Chile: -18.21 percentage pointsChile-18.21Sweden: -22.01 percentage pointsSweden-22.01Poland: -22.78 percentage pointsPoland-22.78United Kingdom: -22.82 percentage pointsUnited Kingdom-22.82Türkiye: -24.19 percentage pointsTürkiye-24.19Australia: -26.35 percentage pointsAustralia-26.35Singapore: -33.52 percentage pointsSingapore-33.52Greece: -34.98 percentage pointsGreece-34.98Spain: -36.81 percentage pointsSpain-36.81Portugal: -39.37 percentage pointsPortugal-39.37Norway: -39.45 percentage pointsNorway-39.45Belgium: -42.01 percentage pointsBelgium-42.01Denmark: -43.02 percentage pointsDenmark-43.02Netherlands: -55.03 percentage pointsNetherlands-55.03Ireland: -96.55 percentage pointsIreland-96.55
percentage points. Source: BIS, BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. Retrieved 2026-10-12.

Full ranking

RankCountriesQ2 2023
percentage points		Change on Q2 2022
1Japan Estimated13.74-6.2 pts
2South Korea Estimated8.37-2.98 pts
3Thailand Estimated8.33-8.54 pts
4Germany Estimated0.44-4.46 pts
5Argentina Estimated-0.06+0.74 pts
6Israel Estimated-0.52-3.17 pts
7Indonesia Estimated-1.99-2.95 pts
8Brazil Estimated-2.33-2.84 pts
9Saudi Arabia Estimated-2.34+0.35 pts
10Mexico Estimated-4.7-2.71 pts
11Hungary Estimated-6.03-8.99 pts
12Switzerland Estimated-6.96-14.75 pts
13Colombia Estimated-7.07-3.47 pts
14Czechia Estimated-7.09-4.72 pts
15South Africa Estimated-7.41+1.77 pts
16China Estimated-7.48+3.59 pts
17France Estimated-8.48-8.4 pts
18United States Estimated-8.74-5.41 pts
19Luxembourg Estimated-8.92-13.67 pts
20Malaysia Estimated-9.16-6.71 pts
21Hong Kong Estimated-10.65-20.66 pts
22India Estimated-12.35+0.75 pts
23Austria Estimated-12.65-8.8 pts
24Russia Estimated-14.2+11.21 pts
25Canada Estimated-14.96-2.54 pts
26Finland Estimated-15.24-6.01 pts
27New Zealand Estimated-16.14-4.95 pts
28Italy Estimated-17.98-4.29 pts
29Chile Estimated-18.21-12.27 pts
30Sweden Estimated-22.01-21.96 pts
31Poland Estimated-22.78-5.32 pts
32United Kingdom Estimated-22.82-8.28 pts
33Türkiye Estimated-24.19-8.58 pts
34Australia Estimated-26.35-3.91 pts
35Singapore Estimated-33.52+7.3 pts
36Greece Estimated-34.98-12.94 pts
37Spain Estimated-36.81-5.16 pts
38Portugal Estimated-39.37-8.61 pts
39Norway Estimated-39.45+4.23 pts
40Belgium Estimated-42.01-10.3 pts
41Denmark Estimated-43.02+1.71 pts
42Netherlands Estimated-55.03-14.79 pts
43Ireland Estimated-96.55+7.45 pts

Other periods

About this ranking

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.

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.

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_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.

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_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap (Countries by private non-financial credit-to-GDP gap, 2023-Q2) [Data set]. Retrieved October 12, 2026, from 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

MLA 9

BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap, Countries by private non-financial credit-to-GDP gap, 2023-Q2. Bank for International Settlements, 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. Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2. Accessed 12 Oct. 2026.

Chicago (author-date)

Bank for International Settlements. n.d. BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. Countries by private non-financial credit-to-GDP gap, 2023-Q2. Dataset. Accessed October 12, 2026. 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. Also distributed by Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2.

Harvard

Bank for International Settlements (no date) BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap, Countries by private non-financial credit-to-GDP gap, 2023-Q2 [Dataset]. Available at: 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, via Invokely: https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2 (Accessed: 12 October 2026).

BibTeX
@misc{bank_countries_by_private_non_2026,
  author = {{Bank for International Settlements}},
  title = {{BIS WS\_CREDIT\_GAP: P.A.C, quarterly, private nonfinancial credit gap: Countries by private non-financial credit-to-GDP gap, 2023-Q2}},
  howpublished = {Data set},
  url = {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},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2. Publisher attribution: 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.},
}
RIS
TY  - DATA
AU  - Bank for International Settlements
TI  - BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap: Countries by private non-financial credit-to-GDP gap, 2023-Q2
PB  - Bank for International Settlements
DB  - Invokely
UR  - 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
L2  - https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q2.
N1  - Publisher attribution: 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.
ER  -
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Rank Countries by private non-financial credit-to-GDP gap using official data, and cite the source.
rank_places {"indicator":"private_nonfinancial_credit_gap","level":"country","limit":10}
GET https://invokely.ai/api/v1/rank?indicator=private_nonfinancial_credit_gap&level=country&limit=10

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Questions

Which country has the highest private non-financial credit-to-GDP gap?

Japan, with 13.74 percentage points in Q2 2023, according to the Bank for International Settlements.

Which country has the lowest private non-financial credit-to-GDP gap?

Ireland, with -96.55 percentage points in Q2 2023.

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_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. Retrieved 2026-10-12.

Private non-financial credit-to-GDP gap: other rankings

Countries: more rankings