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 Q2 2024, at 451.4% of GDP. Argentina had the lowest, at 24.5% of GDP. The median was 142.2% of GDP. Source: the Bank for International Settlements.

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Highest451.4Luxembourg
Lowest24.5Argentina
Median142.243 countries

Map of countries, Q2 2024

Argentina: 24.5 % of GDPAustria: 133.2 % of GDPAustralia: 170.4 % of GDPBelgium: 180.9 % of GDPBrazil: 88.7 % of GDPCanada: 218.5 % of GDPSwitzerland: 259.8 % of GDPChile: 142.2 % of GDPChina: 198.4 % of GDPColombia: 56.5 % of GDPCzechia: 86.5 % of GDPGermany: 137 % of GDPDenmark: 222.8 % of GDPSpain: 128.5 % of GDPFinland: 181.9 % of GDPFrance: 213.6 % of GDPUnited Kingdom: 140.1 % of GDPGreece: 92.9 % of GDPHong Kong: 339.6 % of GDPHungary: 95.4 % of GDPIndonesia: 40.3 % of GDPIreland: 149.8 % of GDPIsrael: 111 % of GDPIndia: 94.5 % of GDPItaly: 95.7 % of GDPJapan: 174.4 % of GDPSouth Korea: 201.6 % of GDPLuxembourg: 451.4 % of GDPMexico: 37.9 % of GDPMalaysia: 157.6 % of GDPNetherlands: 277.7 % of GDPNorway: 221.9 % of GDPNew Zealand: 158.9 % of GDPPoland: 59.1 % of GDPPortugal: 133.1 % of GDPRussia: 97.4 % of GDPSaudi Arabia: 67 % of GDPSweden: 248.6 % of GDPSingapore: 168.4 % of GDPThailand: 174.5 % of GDPTürkiye: 49.6 % of GDPUnited States: 145.2 % of GDPSouth Africa: 67.2 % of GDP
  • Under 67
  • 67 to 97
  • 97 to 140
  • 140 to 170
  • 170 to 220
  • 220 and over
  • No data
% of GDP, Q2 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, Q2 2024

Luxembourg: 451.4 % of GDPLuxembourg451.4Hong Kong: 339.6 % of GDPHong Kong339.6Netherlands: 277.7 % of GDPNetherlands277.7Switzerland: 259.8 % of GDPSwitzerland259.8Sweden: 248.6 % of GDPSweden248.6Denmark: 222.8 % of GDPDenmark222.8Norway: 221.9 % of GDPNorway221.9Canada: 218.5 % of GDPCanada218.5France: 213.6 % of GDPFrance213.6South Korea: 201.6 % of GDPSouth Korea201.6China: 198.4 % of GDPChina198.4Finland: 181.9 % of GDPFinland181.9Belgium: 180.9 % of GDPBelgium180.9Thailand: 174.5 % of GDPThailand174.5Japan: 174.4 % of GDPJapan174.4Australia: 170.4 % of GDPAustralia170.4Singapore: 168.4 % of GDPSingapore168.4New Zealand: 158.9 % of GDPNew Zealand158.9Malaysia: 157.6 % of GDPMalaysia157.6Ireland: 149.8 % of GDPIreland149.8United States: 145.2 % of GDPUnited States145.2Chile: 142.2 % of GDPChile142.2United Kingdom: 140.1 % of GDPUnited Kingdom140.1Germany: 137 % of GDPGermany137Austria: 133.2 % of GDPAustria133.2Portugal: 133.1 % of GDPPortugal133.1Spain: 128.5 % of GDPSpain128.5Israel: 111 % of GDPIsrael111Russia: 97.4 % of GDPRussia97.4Italy: 95.7 % of GDPItaly95.7Hungary: 95.4 % of GDPHungary95.4India: 94.5 % of GDPIndia94.5Greece: 92.9 % of GDPGreece92.9Brazil: 88.7 % of GDPBrazil88.7Czechia: 86.5 % of GDPCzechia86.5South Africa: 67.2 % of GDPSouth Africa67.2Saudi Arabia: 67 % of GDPSaudi Arabia67Poland: 59.1 % of GDPPoland59.1Colombia: 56.5 % of GDPColombia56.5Türkiye: 49.6 % of GDPTürkiye49.6Indonesia: 40.3 % of GDPIndonesia40.3Mexico: 37.9 % of GDPMexico37.9Argentina: 24.5 % of GDPArgentina24.5Luxembourg: 451.4 % of GDPLuxembourg451.4Hong Kong: 339.6 % of GDPHong Kong339.6Netherlands: 277.7 % of GDPNetherlands277.7Switzerland: 259.8 % of GDPSwitzerland259.8Sweden: 248.6 % of GDPSweden248.6Denmark: 222.8 % of GDPDenmark222.8Norway: 221.9 % of GDPNorway221.9Canada: 218.5 % of GDPCanada218.5France: 213.6 % of GDPFrance213.6South Korea: 201.6 % of GDPSouth Korea201.6China: 198.4 % of GDPChina198.4Finland: 181.9 % of GDPFinland181.9Belgium: 180.9 % of GDPBelgium180.9Thailand: 174.5 % of GDPThailand174.5Japan: 174.4 % of GDPJapan174.4Australia: 170.4 % of GDPAustralia170.4Singapore: 168.4 % of GDPSingapore168.4New Zealand: 158.9 % of GDPNew Zealand158.9Malaysia: 157.6 % of GDPMalaysia157.6Ireland: 149.8 % of GDPIreland149.8United States: 145.2 % of GDPUnited States145.2Chile: 142.2 % of GDPChile142.2United Kingdom: 140.1 % of GDPUnited Kingdom140.1Germany: 137 % of GDPGermany137Austria: 133.2 % of GDPAustria133.2Portugal: 133.1 % of GDPPortugal133.1Spain: 128.5 % of GDPSpain128.5Israel: 111 % of GDPIsrael111Russia: 97.4 % of GDPRussia97.4Italy: 95.7 % of GDPItaly95.7Hungary: 95.4 % of GDPHungary95.4India: 94.5 % of GDPIndia94.5Greece: 92.9 % of GDPGreece92.9Brazil: 88.7 % of GDPBrazil88.7Czechia: 86.5 % of GDPCzechia86.5South Africa: 67.2 % of GDPSouth Africa67.2Saudi Arabia: 67 % of GDPSaudi Arabia67Poland: 59.1 % of GDPPoland59.1Colombia: 56.5 % of GDPColombia56.5Türkiye: 49.6 % of GDPTürkiye49.6Indonesia: 40.3 % of GDPIndonesia40.3Mexico: 37.9 % of GDPMexico37.9Argentina: 24.5 % of GDPArgentina24.5
% of GDP. Source: BIS, BIS WS_TC: P.A.M.770.A, quarterly, private nonfinancial credit gdp. Retrieved 2026-10-12.

Full ranking

RankCountriesQ2 2024
% of GDP		Change on Q2 2023
1Luxembourg Estimated451.4-20.3 pts
2Hong Kong Estimated339.6-34.3 pts
3Netherlands Estimated277.7-10.5 pts
4Switzerland Estimated259.80 pts
5Sweden Estimated248.6-3.5 pts
6Denmark Estimated222.8+8.2 pts
7Norway Estimated221.9+18.6 pts
8Canada Estimated218.5-0.1 pts
9France Estimated213.6-6.9 pts
10South Korea Estimated201.6-6.8 pts
11China Estimated198.4+4.9 pts
12Finland Estimated181.9-2.1 pts
13Belgium Estimated180.9+0.4 pts
14Thailand Estimated174.5-3 pts
15Japan Estimated174.4-1.6 pts
16Australia Estimated170.4+2.1 pts
17Singapore Estimated168.4-3.1 pts
18New Zealand Estimated158.9-2.6 pts
19Malaysia Estimated157.6+1.9 pts
20Ireland Estimated149.8-10.8 pts
21United States Estimated145.2-4.9 pts
22Chile Estimated142.2+5.2 pts
23United Kingdom Estimated140.1-1.5 pts
24Germany Estimated137-4.8 pts
25Austria Estimated133.2-4.7 pts
26Portugal Estimated133.1-9.3 pts
27Spain Estimated128.5-6.9 pts
28Israel Estimated111-2.7 pts
29Russia Estimated97.4-0.3 pts
30Italy Estimated95.7-5.6 pts
31Hungary Estimated95.4-0.5 pts
32India Estimated94.5+2.9 pts
33Greece Estimated92.9-3.1 pts
34Brazil Estimated88.7+5.2 pts
35Czechia Estimated86.5+3.1 pts
36South Africa Estimated67.2-0.9 pts
37Saudi Arabia Estimated67+5 pts
38Poland Estimated59.1-2.3 pts
39Colombia Estimated56.5-2.2 pts
40Türkiye Estimated49.6-14.8 pts
41Indonesia Estimated40.3+1.5 pts
42Mexico Estimated37.9+0.9 pts
43Argentina Estimated24.5+1.9 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, 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.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-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.P.A.M.770.A?format=csv&startPeriod=1970-Q1. Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries?period=2024-Q2. 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-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.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-Q2.

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-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.P.A.M.770.A?format=csv&startPeriod=1970-Q1, via Invokely: https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries?period=2024-Q2 (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-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.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-Q2. 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-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.P.A.M.770.A?format=csv&startPeriod=1970-Q1
L2  - https://invokely.ai/rankings/private-nonfinancial-credit-gdp/countries?period=2024-Q2
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-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: 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 451.4% of GDP in Q2 2024, according to the Bank for International Settlements.

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

Argentina, with 24.5% 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: 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