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

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

Argentina had the highest private non-financial credit-to-GDP gap of 43 countries in Q4 2023, at 11.26 percentage points. Ireland had the lowest, at -85.7 percentage points. The median was -13.79 percentage points. Source: the Bank for International Settlements.

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Highest11.26Argentina
Lowest-85.7Ireland
Median-13.7943 countries

Map of countries, Q4 2023

Argentina: 11.26 percentage pointsAustria: -14.45 percentage pointsAustralia: -23.65 percentage pointsBelgium: -38.28 percentage pointsBrazil: -1.19 percentage pointsCanada: -13.79 percentage pointsSwitzerland: -14.05 percentage pointsChile: -13.55 percentage pointsChina: -9.31 percentage pointsColombia: -7.99 percentage pointsCzechia: -7 percentage pointsGermany: -2.7 percentage pointsDenmark: -28.5 percentage pointsSpain: -37.1 percentage pointsFinland: -15.98 percentage pointsFrance: -13.51 percentage pointsUnited Kingdom: -21.8 percentage pointsGreece: -32.96 percentage pointsHong Kong: -25.05 percentage pointsHungary: -8.43 percentage pointsIndonesia: -0.88 percentage pointsIreland: -85.7 percentage pointsIsrael: -2.06 percentage pointsIndia: -9.15 percentage pointsItaly: -19.19 percentage pointsJapan: 10.87 percentage pointsSouth Korea: 3.7 percentage pointsLuxembourg: -18.74 percentage pointsMexico: -4.53 percentage pointsMalaysia: -5.28 percentage pointsNetherlands: -52.86 percentage pointsNorway: -22.59 percentage pointsNew Zealand: -16.25 percentage pointsPoland: -22.39 percentage pointsPortugal: -40.24 percentage pointsRussia: -12.5 percentage pointsSaudi Arabia: 0.15 percentage pointsSweden: -33.84 percentage pointsSingapore: -29.95 percentage pointsThailand: 6.78 percentage pointsTürkiye: -29.87 percentage pointsUnited States: -10.64 percentage pointsSouth Africa: -7.42 percentage points
  • Under -23
  • -23 to -11
  • -11 to 0
  • 0 to 4.7
  • 4.7 to 9.5
  • 9.5 and over
  • No data
percentage points, Q4 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, Q4 2023

Argentina: 11.26 percentage pointsArgentina11.26Japan: 10.87 percentage pointsJapan10.87Thailand: 6.78 percentage pointsThailand6.78South Korea: 3.7 percentage pointsSouth Korea3.7Saudi Arabia: 0.15 percentage pointsSaudi Arabia0.15Indonesia: -0.88 percentage pointsIndonesia-0.88Brazil: -1.19 percentage pointsBrazil-1.19Israel: -2.06 percentage pointsIsrael-2.06Germany: -2.7 percentage pointsGermany-2.7Mexico: -4.53 percentage pointsMexico-4.53Malaysia: -5.28 percentage pointsMalaysia-5.28Czechia: -7 percentage pointsCzechia-7South Africa: -7.42 percentage pointsSouth Africa-7.42Colombia: -7.99 percentage pointsColombia-7.99Hungary: -8.43 percentage pointsHungary-8.43India: -9.15 percentage pointsIndia-9.15China: -9.31 percentage pointsChina-9.31United States: -10.64 percentage pointsUnited States-10.64Russia: -12.5 percentage pointsRussia-12.5France: -13.51 percentage pointsFrance-13.51Chile: -13.55 percentage pointsChile-13.55Canada: -13.79 percentage pointsCanada-13.79Switzerland: -14.05 percentage pointsSwitzerland-14.05Austria: -14.45 percentage pointsAustria-14.45Finland: -15.98 percentage pointsFinland-15.98New Zealand: -16.25 percentage pointsNew Zealand-16.25Luxembourg: -18.74 percentage pointsLuxembourg-18.74Italy: -19.19 percentage pointsItaly-19.19United Kingdom: -21.8 percentage pointsUnited Kingdom-21.8Poland: -22.39 percentage pointsPoland-22.39Norway: -22.59 percentage pointsNorway-22.59Australia: -23.65 percentage pointsAustralia-23.65Hong Kong: -25.05 percentage pointsHong Kong-25.05Denmark: -28.5 percentage pointsDenmark-28.5Türkiye: -29.87 percentage pointsTürkiye-29.87Singapore: -29.95 percentage pointsSingapore-29.95Greece: -32.96 percentage pointsGreece-32.96Sweden: -33.84 percentage pointsSweden-33.84Spain: -37.1 percentage pointsSpain-37.1Belgium: -38.28 percentage pointsBelgium-38.28Portugal: -40.24 percentage pointsPortugal-40.24Netherlands: -52.86 percentage pointsNetherlands-52.86Ireland: -85.7 percentage pointsIreland-85.7Argentina: 11.26 percentage pointsArgentina11.26Japan: 10.87 percentage pointsJapan10.87Thailand: 6.78 percentage pointsThailand6.78South Korea: 3.7 percentage pointsSouth Korea3.7Saudi Arabia: 0.15 percentage pointsSaudi Arabia0.15Indonesia: -0.88 percentage pointsIndonesia-0.88Brazil: -1.19 percentage pointsBrazil-1.19Israel: -2.06 percentage pointsIsrael-2.06Germany: -2.7 percentage pointsGermany-2.7Mexico: -4.53 percentage pointsMexico-4.53Malaysia: -5.28 percentage pointsMalaysia-5.28Czechia: -7 percentage pointsCzechia-7South Africa: -7.42 percentage pointsSouth Africa-7.42Colombia: -7.99 percentage pointsColombia-7.99Hungary: -8.43 percentage pointsHungary-8.43India: -9.15 percentage pointsIndia-9.15China: -9.31 percentage pointsChina-9.31United States: -10.64 percentage pointsUnited States-10.64Russia: -12.5 percentage pointsRussia-12.5France: -13.51 percentage pointsFrance-13.51Chile: -13.55 percentage pointsChile-13.55Canada: -13.79 percentage pointsCanada-13.79Switzerland: -14.05 percentage pointsSwitzerland-14.05Austria: -14.45 percentage pointsAustria-14.45Finland: -15.98 percentage pointsFinland-15.98New Zealand: -16.25 percentage pointsNew Zealand-16.25Luxembourg: -18.74 percentage pointsLuxembourg-18.74Italy: -19.19 percentage pointsItaly-19.19United Kingdom: -21.8 percentage pointsUnited Kingdom-21.8Poland: -22.39 percentage pointsPoland-22.39Norway: -22.59 percentage pointsNorway-22.59Australia: -23.65 percentage pointsAustralia-23.65Hong Kong: -25.05 percentage pointsHong Kong-25.05Denmark: -28.5 percentage pointsDenmark-28.5Türkiye: -29.87 percentage pointsTürkiye-29.87Singapore: -29.95 percentage pointsSingapore-29.95Greece: -32.96 percentage pointsGreece-32.96Sweden: -33.84 percentage pointsSweden-33.84Spain: -37.1 percentage pointsSpain-37.1Belgium: -38.28 percentage pointsBelgium-38.28Portugal: -40.24 percentage pointsPortugal-40.24Netherlands: -52.86 percentage pointsNetherlands-52.86Ireland: -85.7 percentage pointsIreland-85.7
percentage points. Source: BIS, BIS WS_CREDIT_GAP: P.A.C, quarterly, private nonfinancial credit gap. Retrieved 2026-10-12.

Full ranking

RankCountriesQ4 2023
percentage points		Change on Q4 2022
1Argentina Estimated11.26+12.18 pts
2Japan Estimated10.87-7.45 pts
3Thailand Estimated6.78-4.35 pts
4South Korea Estimated3.7-7.55 pts
5Saudi Arabia Estimated0.15+5.19 pts
6Indonesia Estimated-0.88-0.02 pts
7Brazil Estimated-1.19-2.34 pts
8Israel Estimated-2.06-2.11 pts
9Germany Estimated-2.7-7.06 pts
10Mexico Estimated-4.53-1.45 pts
11Malaysia Estimated-5.28+6.45 pts
12Czechia Estimated-7-3.47 pts
13South Africa Estimated-7.42-0.04 pts
14Colombia Estimated-7.99-2.79 pts
15Hungary Estimated-8.43-9.33 pts
16India Estimated-9.15+3.39 pts
17China Estimated-9.31+2.85 pts
18United States Estimated-10.64-4.42 pts
19Russia Estimated-12.5+7.48 pts
20France Estimated-13.51-10.94 pts
21Chile Estimated-13.55-2.55 pts
22Canada Estimated-13.79+3.48 pts
23Switzerland Estimated-14.05-10.95 pts
24Austria Estimated-14.45-6.66 pts
25Finland Estimated-15.98-5.33 pts
26New Zealand Estimated-16.25-2.43 pts
27Luxembourg Estimated-18.74-27.25 pts
28Italy Estimated-19.19-4.03 pts
29United Kingdom Estimated-21.8-4.16 pts
30Poland Estimated-22.39-1.62 pts
31Norway Estimated-22.59+30.14 pts
32Australia Estimated-23.65+3.32 pts
33Hong Kong Estimated-25.05-18.81 pts
34Denmark Estimated-28.5+12.86 pts
35Türkiye Estimated-29.87-3.45 pts
36Singapore Estimated-29.95+14.65 pts
37Greece Estimated-32.96+0.69 pts
38Sweden Estimated-33.84-35.37 pts
39Spain Estimated-37.1-1.59 pts
40Belgium Estimated-38.28-4.09 pts
41Portugal Estimated-40.24-5.65 pts
42Netherlands Estimated-52.86-6.05 pts
43Ireland Estimated-85.7+21.29 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-Q4) [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-Q4. 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-Q4. 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-Q4. 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-Q4.

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-Q4 [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-Q4 (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-Q4}},
  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-Q4. 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-Q4
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-Q4
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gap/countries?period=2023-Q4.
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?

Argentina, with 11.26 percentage points in Q4 2023, according to the Bank for International Settlements.

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

Ireland, with -85.7 percentage points in Q4 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