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

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

Luxembourg had the highest private non-financial credit as a share of GDP of 43 countries in Q1 2024, at 456.5% of GDP. Argentina had the lowest, at 27.9% of GDP. The median was 145.9% of GDP. Source: the Bank for International Settlements.

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Highest456.5Luxembourg
Lowest27.9Argentina
Median145.943 countries

Map of countries, Q1 2024

Argentina: 27.9 % of GDPAustria: 134.6 % of GDPAustralia: 169.9 % of GDPBelgium: 181 % of GDPBrazil: 86.4 % of GDPCanada: 218.2 % of GDPSwitzerland: 256.1 % of GDPChile: 145.9 % of GDPChina: 198.2 % of GDPColombia: 57 % of GDPCzechia: 86.1 % of GDPGermany: 137.5 % of GDPDenmark: 225.5 % of GDPSpain: 129 % of GDPFinland: 182.2 % of GDPFrance: 213.7 % of GDPUnited Kingdom: 140.4 % of GDPGreece: 93.2 % of GDPHong Kong: 358.1 % of GDPHungary: 94.2 % of GDPIndonesia: 40.1 % of GDPIreland: 146.1 % of GDPIsrael: 111.6 % of GDPIndia: 94.4 % of GDPItaly: 96.6 % of GDPJapan: 174.7 % of GDPSouth Korea: 203.3 % of GDPLuxembourg: 456.5 % of GDPMexico: 36.9 % of GDPMalaysia: 158.8 % of GDPNetherlands: 280.6 % of GDPNorway: 222.2 % of GDPNew Zealand: 158.9 % of GDPPoland: 59.3 % of GDPPortugal: 134 % of GDPRussia: 98.5 % of GDPSaudi Arabia: 66.9 % of GDPSweden: 248.9 % of GDPSingapore: 168.7 % of GDPThailand: 177 % of GDPTürkiye: 53.4 % of GDPUnited States: 146.1 % of GDPSouth Africa: 68.6 % of GDP
  • Under 69
  • 69 to 99
  • 99 to 150
  • 150 to 170
  • 170 to 220
  • 220 and over
  • No data
% of GDP, Q1 2024. 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 2024

Luxembourg: 456.5 % of GDPLuxembourg456.5Hong Kong: 358.1 % of GDPHong Kong358.1Netherlands: 280.6 % of GDPNetherlands280.6Switzerland: 256.1 % of GDPSwitzerland256.1Sweden: 248.9 % of GDPSweden248.9Denmark: 225.5 % of GDPDenmark225.5Norway: 222.2 % of GDPNorway222.2Canada: 218.2 % of GDPCanada218.2France: 213.7 % of GDPFrance213.7South Korea: 203.3 % of GDPSouth Korea203.3China: 198.2 % of GDPChina198.2Finland: 182.2 % of GDPFinland182.2Belgium: 181 % of GDPBelgium181Thailand: 177 % of GDPThailand177Japan: 174.7 % of GDPJapan174.7Australia: 169.9 % of GDPAustralia169.9Singapore: 168.7 % of GDPSingapore168.7New Zealand: 158.9 % of GDPNew Zealand158.9Malaysia: 158.8 % of GDPMalaysia158.8Ireland: 146.1 % of GDPIreland146.1United States: 146.1 % of GDPUnited States146.1Chile: 145.9 % of GDPChile145.9United Kingdom: 140.4 % of GDPUnited Kingdom140.4Germany: 137.5 % of GDPGermany137.5Austria: 134.6 % of GDPAustria134.6Portugal: 134 % of GDPPortugal134Spain: 129 % of GDPSpain129Israel: 111.6 % of GDPIsrael111.6Russia: 98.5 % of GDPRussia98.5Italy: 96.6 % of GDPItaly96.6India: 94.4 % of GDPIndia94.4Hungary: 94.2 % of GDPHungary94.2Greece: 93.2 % of GDPGreece93.2Brazil: 86.4 % of GDPBrazil86.4Czechia: 86.1 % of GDPCzechia86.1South Africa: 68.6 % of GDPSouth Africa68.6Saudi Arabia: 66.9 % of GDPSaudi Arabia66.9Poland: 59.3 % of GDPPoland59.3Colombia: 57 % of GDPColombia57Türkiye: 53.4 % of GDPTürkiye53.4Indonesia: 40.1 % of GDPIndonesia40.1Mexico: 36.9 % of GDPMexico36.9Argentina: 27.9 % of GDPArgentina27.9Luxembourg: 456.5 % of GDPLuxembourg456.5Hong Kong: 358.1 % of GDPHong Kong358.1Netherlands: 280.6 % of GDPNetherlands280.6Switzerland: 256.1 % of GDPSwitzerland256.1Sweden: 248.9 % of GDPSweden248.9Denmark: 225.5 % of GDPDenmark225.5Norway: 222.2 % of GDPNorway222.2Canada: 218.2 % of GDPCanada218.2France: 213.7 % of GDPFrance213.7South Korea: 203.3 % of GDPSouth Korea203.3China: 198.2 % of GDPChina198.2Finland: 182.2 % of GDPFinland182.2Belgium: 181 % of GDPBelgium181Thailand: 177 % of GDPThailand177Japan: 174.7 % of GDPJapan174.7Australia: 169.9 % of GDPAustralia169.9Singapore: 168.7 % of GDPSingapore168.7New Zealand: 158.9 % of GDPNew Zealand158.9Malaysia: 158.8 % of GDPMalaysia158.8Ireland: 146.1 % of GDPIreland146.1United States: 146.1 % of GDPUnited States146.1Chile: 145.9 % of GDPChile145.9United Kingdom: 140.4 % of GDPUnited Kingdom140.4Germany: 137.5 % of GDPGermany137.5Austria: 134.6 % of GDPAustria134.6Portugal: 134 % of GDPPortugal134Spain: 129 % of GDPSpain129Israel: 111.6 % of GDPIsrael111.6Russia: 98.5 % of GDPRussia98.5Italy: 96.6 % of GDPItaly96.6India: 94.4 % of GDPIndia94.4Hungary: 94.2 % of GDPHungary94.2Greece: 93.2 % of GDPGreece93.2Brazil: 86.4 % of GDPBrazil86.4Czechia: 86.1 % of GDPCzechia86.1South Africa: 68.6 % of GDPSouth Africa68.6Saudi Arabia: 66.9 % of GDPSaudi Arabia66.9Poland: 59.3 % of GDPPoland59.3Colombia: 57 % of GDPColombia57Türkiye: 53.4 % of GDPTürkiye53.4Indonesia: 40.1 % of GDPIndonesia40.1Mexico: 36.9 % of GDPMexico36.9Argentina: 27.9 % of GDPArgentina27.9
% of GDP. Source: BIS, BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Retrieved 2026-10-12.

Full ranking

RankCountriesQ1 2024
% of GDP		Change on Q1 2023
1Luxembourg Estimated456.5-24.3 pts
2Hong Kong Estimated358.1-17.7 pts
3Netherlands Estimated280.6-10.6 pts
4Switzerland Estimated256.1-6.5 pts
5Sweden Estimated248.9-1.8 pts
6Denmark Estimated225.5+5.3 pts
7Norway Estimated222.2+24.9 pts
8Canada Estimated218.2+1.3 pts
9France Estimated213.7-9.7 pts
10South Korea Estimated203.3-4.9 pts
11China Estimated198.2+5 pts
12Finland Estimated182.2-3.6 pts
13Belgium Estimated181-4.8 pts
14Thailand Estimated177-0.3 pts
15Japan Estimated174.7-2.5 pts
16Australia Estimated169.9+1.6 pts
17Singapore Estimated168.7+8.4 pts
18New Zealand Estimated158.9-3.3 pts
19Malaysia Estimated158.8+5.5 pts
20Ireland Estimated146.1-13 pts
20United States Estimated146.1-5.6 pts
22Chile Estimated145.9+8.3 pts
23United Kingdom Estimated140.4-4.9 pts
24Germany Estimated137.5-5.9 pts
25Austria Estimated134.6-5.8 pts
26Portugal Estimated134-13.2 pts
27Spain Estimated129-8.7 pts
28Israel Estimated111.6-2.3 pts
29Russia Estimated98.5+3.1 pts
30Italy Estimated96.6-6.5 pts
31India Estimated94.4+1.2 pts
32Hungary Estimated94.2-5.1 pts
33Greece Estimated93.2-4.6 pts
34Brazil Estimated86.4+1.6 pts
35Czechia Estimated86.1+1 pts
36South Africa Estimated68.6-0.7 pts
37Saudi Arabia Estimated66.9+7.6 pts
38Poland Estimated59.3-4.1 pts
39Colombia Estimated57-2.1 pts
40Türkiye Estimated53.4-7.6 pts
41Indonesia Estimated40.1+1.5 pts
42Mexico Estimated36.9-0.7 pts
43Argentina Estimated27.9+6.1 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, 2024-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, 2024-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?period=2024-Q1. 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, 2024-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?period=2024-Q1.

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, 2024-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?period=2024-Q1 (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, 2024-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?period=2024-Q1. 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, 2024-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?period=2024-Q1
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries?period=2024-Q1.
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 456.5% of GDP in Q1 2024, according to the Bank for International Settlements.

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

Argentina, with 27.9% of GDP in Q1 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: 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