Data / Rankings / Private non-financial credit as a share of GDP / Countries

Countries by private non-financial credit as a share of GDP, Q1 2026

Luxembourg had the highest private non-financial credit as a share of GDP of 43 countries in Q1 2026, at 454.1% of GDP. Argentina had the lowest, at 26.6% of GDP. The median was 130.3% of GDP. Source: the Bank for International Settlements.

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Highest454.1Luxembourg
Lowest26.6Argentina
Median130.343 countries

Map of countries, Q1 2026

Argentina: 26.6 % of GDPAustria: 126.5 % of GDPAustralia: 175.8 % of GDPBelgium: 173.4 % of GDPBrazil: 92.5 % of GDPCanada: 218.8 % of GDPSwitzerland: 257.3 % of GDPChile: 130.3 % of GDPChina: 204.1 % of GDPColombia: 54.9 % of GDPCzechia: 86.3 % of GDPGermany: 134.8 % of GDPDenmark: 219.1 % of GDPSpain: 119.4 % of GDPFinland: 173.4 % of GDPFrance: 214.3 % of GDPUnited Kingdom: 128.4 % of GDPGreece: 96.7 % of GDPHong Kong: 338.5 % of GDPHungary: 89.5 % of GDPIndonesia: 39.8 % of GDPIreland: 129.3 % of GDPIsrael: 116.5 % of GDPIndia: 105.1 % of GDPItaly: 94.2 % of GDPJapan: 173.7 % of GDPSouth Korea: 191.5 % of GDPLuxembourg: 454.1 % of GDPMexico: 38.6 % of GDPMalaysia: 158.9 % of GDPNetherlands: 263.4 % of GDPNorway: 224.2 % of GDPNew Zealand: 160.5 % of GDPPoland: 57.1 % of GDPPortugal: 128.6 % of GDPRussia: 104.7 % of GDPSaudi Arabia: 78.2 % of GDPSweden: 236.1 % of GDPSingapore: 167.8 % of GDPThailand: 155.9 % of GDPTürkiye: 49.1 % of GDPUnited States: 139.7 % of GDPSouth Africa: 67.2 % of GDP
  • Under 78
  • 78 to 110
  • 110 to 130
  • 130 to 170
  • 170 to 220
  • 220 and over
  • No data
% of GDP, Q1 2026. Hatched areas have no value for this period. Source: BIS, BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Boundaries: Natural Earth (public domain).

All countries, Q1 2026

Luxembourg: 454.1 % of GDPLuxembourg454.1Hong Kong: 338.5 % of GDPHong Kong338.5Netherlands: 263.4 % of GDPNetherlands263.4Switzerland: 257.3 % of GDPSwitzerland257.3Sweden: 236.1 % of GDPSweden236.1Norway: 224.2 % of GDPNorway224.2Denmark: 219.1 % of GDPDenmark219.1Canada: 218.8 % of GDPCanada218.8France: 214.3 % of GDPFrance214.3China: 204.1 % of GDPChina204.1South Korea: 191.5 % of GDPSouth Korea191.5Australia: 175.8 % of GDPAustralia175.8Japan: 173.7 % of GDPJapan173.7Belgium: 173.4 % of GDPBelgium173.4Finland: 173.4 % of GDPFinland173.4Singapore: 167.8 % of GDPSingapore167.8New Zealand: 160.5 % of GDPNew Zealand160.5Malaysia: 158.9 % of GDPMalaysia158.9Thailand: 155.9 % of GDPThailand155.9United States: 139.7 % of GDPUnited States139.7Germany: 134.8 % of GDPGermany134.8Chile: 130.3 % of GDPChile130.3Ireland: 129.3 % of GDPIreland129.3Portugal: 128.6 % of GDPPortugal128.6United Kingdom: 128.4 % of GDPUnited Kingdom128.4Austria: 126.5 % of GDPAustria126.5Spain: 119.4 % of GDPSpain119.4Israel: 116.5 % of GDPIsrael116.5India: 105.1 % of GDPIndia105.1Russia: 104.7 % of GDPRussia104.7Greece: 96.7 % of GDPGreece96.7Italy: 94.2 % of GDPItaly94.2Brazil: 92.5 % of GDPBrazil92.5Hungary: 89.5 % of GDPHungary89.5Czechia: 86.3 % of GDPCzechia86.3Saudi Arabia: 78.2 % of GDPSaudi Arabia78.2South Africa: 67.2 % of GDPSouth Africa67.2Poland: 57.1 % of GDPPoland57.1Colombia: 54.9 % of GDPColombia54.9Türkiye: 49.1 % of GDPTürkiye49.1Indonesia: 39.8 % of GDPIndonesia39.8Mexico: 38.6 % of GDPMexico38.6Argentina: 26.6 % of GDPArgentina26.6Luxembourg: 454.1 % of GDPLuxembourg454.1Hong Kong: 338.5 % of GDPHong Kong338.5Netherlands: 263.4 % of GDPNetherlands263.4Switzerland: 257.3 % of GDPSwitzerland257.3Sweden: 236.1 % of GDPSweden236.1Norway: 224.2 % of GDPNorway224.2Denmark: 219.1 % of GDPDenmark219.1Canada: 218.8 % of GDPCanada218.8France: 214.3 % of GDPFrance214.3China: 204.1 % of GDPChina204.1South Korea: 191.5 % of GDPSouth Korea191.5Australia: 175.8 % of GDPAustralia175.8Japan: 173.7 % of GDPJapan173.7Belgium: 173.4 % of GDPBelgium173.4Finland: 173.4 % of GDPFinland173.4Singapore: 167.8 % of GDPSingapore167.8New Zealand: 160.5 % of GDPNew Zealand160.5Malaysia: 158.9 % of GDPMalaysia158.9Thailand: 155.9 % of GDPThailand155.9United States: 139.7 % of GDPUnited States139.7Germany: 134.8 % of GDPGermany134.8Chile: 130.3 % of GDPChile130.3Ireland: 129.3 % of GDPIreland129.3Portugal: 128.6 % of GDPPortugal128.6United Kingdom: 128.4 % of GDPUnited Kingdom128.4Austria: 126.5 % of GDPAustria126.5Spain: 119.4 % of GDPSpain119.4Israel: 116.5 % of GDPIsrael116.5India: 105.1 % of GDPIndia105.1Russia: 104.7 % of GDPRussia104.7Greece: 96.7 % of GDPGreece96.7Italy: 94.2 % of GDPItaly94.2Brazil: 92.5 % of GDPBrazil92.5Hungary: 89.5 % of GDPHungary89.5Czechia: 86.3 % of GDPCzechia86.3Saudi Arabia: 78.2 % of GDPSaudi Arabia78.2South Africa: 67.2 % of GDPSouth Africa67.2Poland: 57.1 % of GDPPoland57.1Colombia: 54.9 % of GDPColombia54.9Türkiye: 49.1 % of GDPTürkiye49.1Indonesia: 39.8 % of GDPIndonesia39.8Mexico: 38.6 % of GDPMexico38.6Argentina: 26.6 % of GDPArgentina26.6
% of GDP. Source: BIS, BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Retrieved 2026-10-12.

Full ranking

RankCountriesQ1 2026
% of GDP		Change on Q1 2025
1Luxembourg Estimated454.1+6 pts
2Hong Kong Estimated338.5+8.1 pts
3Netherlands Estimated263.4-6.3 pts
4Switzerland Estimated257.3+4 pts
5Sweden Estimated236.1+0.5 pts
6Norway Estimated224.2+5.2 pts
7Denmark Estimated219.1+3.2 pts
8Canada Estimated218.8+0.9 pts
9France Estimated214.3+0.4 pts
10China Estimated204.1+2.2 pts
11South Korea Estimated191.5-8.5 pts
12Australia Estimated175.8+1.4 pts
13Japan Estimated173.7+2.7 pts
14Belgium Estimated173.4-3.8 pts
14Finland Estimated173.4-5.1 pts
16Singapore Estimated167.8+4.8 pts
17New Zealand Estimated160.5+0.2 pts
18Malaysia Estimated158.9+2.1 pts
19Thailand Estimated155.9-12.9 pts
20United States Estimated139.7-1.9 pts
21Germany Estimated134.8-1.7 pts
22Chile Estimated130.3-6.3 pts
23Ireland Estimated129.3-7.9 pts
24Portugal Estimated128.6-1.8 pts
25United Kingdom Estimated128.4-4.2 pts
26Austria Estimated126.5-3.2 pts
27Spain Estimated119.4-4.1 pts
28Israel Estimated116.5+5 pts
29India Estimated105.1+9.1 pts
30Russia Estimated104.7+5.9 pts
31Greece Estimated96.7+0.6 pts
32Italy Estimated94.2-0.5 pts
33Brazil Estimated92.5+1.2 pts
34Hungary Estimated89.5-2.7 pts
35Czechia Estimated86.3+0.3 pts
36Saudi Arabia Estimated78.2+4.2 pts
37South Africa Estimated67.2+0.1 pts
38Poland Estimated57.10 pts
39Colombia Estimated54.9+0.9 pts
40Türkiye Estimated49.1+1.1 pts
41Indonesia Estimated39.8+0.1 pts
42Mexico Estimated38.6-0.7 pts
43Argentina Estimated26.6+2.9 pts

Other periods

About this ranking

Quarter-end gross core debt of households, NPISHs and 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: P.A.M.770.A, quarterly, private nonfinancial 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.P.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: P.A.M.770.A, quarterly, private nonfinancial credit gdp (Countries by private non-financial credit as a share of GDP, 2026-Q1) [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.P.A.M.770.A?format=csv&startPeriod=1970-Q1

MLA 9

BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp, Countries by private non-financial credit as a share of GDP, 2026-Q1. 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.P.A.M.770.A?format=csv&startPeriod=1970-Q1. Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries. Accessed 12 Oct. 2026.

Chicago (author-date)

Bank for International Settlements. n.d. BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Countries by private non-financial credit as a share of GDP, 2026-Q1. 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.P.A.M.770.A?format=csv&startPeriod=1970-Q1. Also distributed by Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries.

Harvard

Bank for International Settlements (no date) BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp, Countries by private non-financial credit as a share of GDP, 2026-Q1 [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.P.A.M.770.A?format=csv&startPeriod=1970-Q1, via Invokely: https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries (Accessed: 12 October 2026).

BibTeX
@misc{bank_countries_by_private_non_2026,
  author = {{Bank for International Settlements}},
  title = {{BIS WS\_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp: Countries by private non-financial credit as a share of GDP, 2026-Q1}},
  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.P.A.M.770.A?format=csv&startPeriod=1970-Q1},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries. Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS\_TC: P.A.M.770.A, quarterly, private nonfinancial 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.P.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: P.A.M.770.A, quarterly, private nonfinancial credit gdp: Countries by private non-financial credit as a share of GDP, 2026-Q1
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.P.A.M.770.A?format=csv&startPeriod=1970-Q1
L2  - https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries.
N1  - Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial 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.P.A.M.770.A?format=csv&startPeriod=1970-Q1. Retrieved 2026-10-12.
ER  -
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Rank Countries by private non-financial credit as a share of GDP using official data, and cite the source.
rank_places {"indicator":"private_nonfinancial_credit_gdp","level":"country","limit":10}
GET https://invokely.ai/api/v1/rank?indicator=private_nonfinancial_credit_gdp&level=country&limit=10

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Questions

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

Luxembourg, with 454.1% of GDP in Q1 2026, according to the Bank for International Settlements.

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

Argentina, with 26.6% of GDP in Q1 2026.

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: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Retrieved 2026-10-12.

Private non-financial credit as a share of GDP: other rankings

Countries: more rankings