Countries by private non-financial credit outstanding in USD

The United States had the highest private non-financial credit outstanding in USD of 43 countries in Q1 2025, at $41.96 trillion. Argentina had the lowest, at $145.44 billion. The median was $941.06 billion. Source: the Bank for International Settlements.

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Highest41,956.76United States
Lowest145.44Argentina
Median941.0643 countries

Map of countries, Q1 2025

Argentina: 145.44 USD billionAustria: 699.09 USD billionAustralia: 2,993.77 USD billionBelgium: 1,197.95 USD billionBrazil: 1,902.99 USD billionCanada: 4,787.16 USD billionSwitzerland: 2,475.73 USD billionChile: 456.12 USD billionChina: 37,911.55 USD billionColombia: 226.2 USD billionCzechia: 304.78 USD billionGermany: 6,529.32 USD billionDenmark: 950.89 USD billionSpain: 2,158.07 USD billionFinland: 535.89 USD billionFrance: 6,828.04 USD billionUnited Kingdom: 5,043.17 USD billionGreece: 248.72 USD billionHong Kong: 1,367.39 USD billionHungary: 205.52 USD billionIndonesia: 536.85 USD billionIreland: 868.89 USD billionIsrael: 609.18 USD billionIndia: 3,566.7 USD billionItaly: 2,264.44 USD billionJapan: 7,381.75 USD billionSouth Korea: 3,501.08 USD billionLuxembourg: 418.81 USD billionMexico: 655.81 USD billionMalaysia: 690.27 USD billionNetherlands: 3,293.96 USD billionNorway: 1,141.28 USD billionNew Zealand: 393.02 USD billionPoland: 549.76 USD billionPortugal: 413.78 USD billionRussia: 2,425.08 USD billionSaudi Arabia: 934.4 USD billionSweden: 1,521.25 USD billionSingapore: 941.06 USD billionThailand: 936.18 USD billionTürkiye: 609 USD billionUnited States: 41,956.76 USD billionSouth Africa: 271.09 USD billion
  • Under 400
  • 400 to 600
  • 600 to 900
  • 900 to 2,200
  • 2,200 to 3,600
  • 3,600 and over
  • No data
USD billion, Q1 2025. Hatched areas have no value for this period. Source: BIS, BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd. Boundaries: Natural Earth (public domain).

All countries, Q1 2025

United States: 41,956.76 USD billionUnited States41,956.76China: 37,911.55 USD billionChina37,911.55Japan: 7,381.75 USD billionJapan7,381.75France: 6,828.04 USD billionFrance6,828.04Germany: 6,529.32 USD billionGermany6,529.32United Kingdom: 5,043.17 USD billionUnited Kingdom5,043.17Canada: 4,787.16 USD billionCanada4,787.16India: 3,566.7 USD billionIndia3,566.7South Korea: 3,501.08 USD billionSouth Korea3,501.08Netherlands: 3,293.96 USD billionNetherlands3,293.96Australia: 2,993.77 USD billionAustralia2,993.77Switzerland: 2,475.73 USD billionSwitzerland2,475.73Russia: 2,425.08 USD billionRussia2,425.08Italy: 2,264.44 USD billionItaly2,264.44Spain: 2,158.07 USD billionSpain2,158.07Brazil: 1,902.99 USD billionBrazil1,902.99Sweden: 1,521.25 USD billionSweden1,521.25Hong Kong: 1,367.39 USD billionHong Kong1,367.39Belgium: 1,197.95 USD billionBelgium1,197.95Norway: 1,141.28 USD billionNorway1,141.28Denmark: 950.89 USD billionDenmark950.89Singapore: 941.06 USD billionSingapore941.06Thailand: 936.18 USD billionThailand936.18Saudi Arabia: 934.4 USD billionSaudi Arabia934.4Ireland: 868.89 USD billionIreland868.89Austria: 699.09 USD billionAustria699.09Malaysia: 690.27 USD billionMalaysia690.27Mexico: 655.81 USD billionMexico655.81Israel: 609.18 USD billionIsrael609.18Türkiye: 609 USD billionTürkiye609Poland: 549.76 USD billionPoland549.76Indonesia: 536.85 USD billionIndonesia536.85Finland: 535.89 USD billionFinland535.89Chile: 456.12 USD billionChile456.12Luxembourg: 418.81 USD billionLuxembourg418.81Portugal: 413.78 USD billionPortugal413.78New Zealand: 393.02 USD billionNew Zealand393.02Czechia: 304.78 USD billionCzechia304.78South Africa: 271.09 USD billionSouth Africa271.09Greece: 248.72 USD billionGreece248.72Colombia: 226.2 USD billionColombia226.2Hungary: 205.52 USD billionHungary205.52Argentina: 145.44 USD billionArgentina145.44United States: 41,956.76 USD billionUnited States41,956.76China: 37,911.55 USD billionChina37,911.55Japan: 7,381.75 USD billionJapan7,381.75France: 6,828.04 USD billionFrance6,828.04Germany: 6,529.32 USD billionGermany6,529.32United Kingdom: 5,043.17 USD billionUnited Kingdom5,043.17Canada: 4,787.16 USD billionCanada4,787.16India: 3,566.7 USD billionIndia3,566.7South Korea: 3,501.08 USD billionSouth Korea3,501.08Netherlands: 3,293.96 USD billionNetherlands3,293.96Australia: 2,993.77 USD billionAustralia2,993.77Switzerland: 2,475.73 USD billionSwitzerland2,475.73Russia: 2,425.08 USD billionRussia2,425.08Italy: 2,264.44 USD billionItaly2,264.44Spain: 2,158.07 USD billionSpain2,158.07Brazil: 1,902.99 USD billionBrazil1,902.99Sweden: 1,521.25 USD billionSweden1,521.25Hong Kong: 1,367.39 USD billionHong Kong1,367.39Belgium: 1,197.95 USD billionBelgium1,197.95Norway: 1,141.28 USD billionNorway1,141.28Denmark: 950.89 USD billionDenmark950.89Singapore: 941.06 USD billionSingapore941.06Thailand: 936.18 USD billionThailand936.18Saudi Arabia: 934.4 USD billionSaudi Arabia934.4Ireland: 868.89 USD billionIreland868.89Austria: 699.09 USD billionAustria699.09Malaysia: 690.27 USD billionMalaysia690.27Mexico: 655.81 USD billionMexico655.81Israel: 609.18 USD billionIsrael609.18Türkiye: 609 USD billionTürkiye609Poland: 549.76 USD billionPoland549.76Indonesia: 536.85 USD billionIndonesia536.85Finland: 535.89 USD billionFinland535.89Chile: 456.12 USD billionChile456.12Luxembourg: 418.81 USD billionLuxembourg418.81Portugal: 413.78 USD billionPortugal413.78New Zealand: 393.02 USD billionNew Zealand393.02Czechia: 304.78 USD billionCzechia304.78South Africa: 271.09 USD billionSouth Africa271.09Greece: 248.72 USD billionGreece248.72Colombia: 226.2 USD billionColombia226.2Hungary: 205.52 USD billionHungary205.52Argentina: 145.44 USD billionArgentina145.44
USD billion. Source: BIS, BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd. Retrieved 2026-10-12.

Full ranking

RankCountriesQ1 2025
USD billion
Change on Q1 2024
1United States Estimated41,956.76+1.9%
2China Estimated37,911.55+5.7%
3Japan Estimated7,381.75+3%
4France Estimated6,828.04+3%
5Germany Estimated6,529.32+2.4%
6United Kingdom Estimated5,043.17+2.4%
7Canada Estimated4,787.16-0.8%
8India Estimated3,566.7+9%
9South Korea Estimated3,501.08-5.5%
10Netherlands Estimated3,293.96+2.1%
11Australia Estimated2,993.77+1.8%
12Switzerland Estimated2,475.73+4.3%
13Russia Estimated2,425.08+24.8%
14Italy Estimated2,264.44+0.5%
15Spain Estimated2,158.07+2%
16Brazil Estimated1,902.99-0.8%
17Sweden Estimated1,521.25+4.7%
18Hong Kong Estimated1,367.39-1.4%
19Belgium Estimated1,197.95+1.2%
20Norway Estimated1,141.28+5.9%
21Denmark Estimated950.89+4.5%
22Singapore Estimated941.06+7.5%
23Thailand Estimated936.18+6.2%
24Saudi Arabia Estimated934.4+14.2%
25Ireland Estimated868.89+5.1%
26Austria Estimated699.09-0%
27Malaysia Estimated690.27+11.3%
28Mexico Estimated655.81-8.9%
29Israel Estimated609.18+5.9%
30Türkiye Estimated609+17.5%
31Poland Estimated549.76+6.7%
32Indonesia Estimated536.85+0.6%
33Finland Estimated535.89-0.3%
34Chile Estimated456.12+6.4%
35Luxembourg Estimated418.81+1.6%
36Portugal Estimated413.78+4%
37New Zealand Estimated393.02-0.9%
38Czechia Estimated304.78+6.6%
39South Africa Estimated271.09+5.3%
40Greece Estimated248.72+9%
41Colombia Estimated226.2-4.8%
42Hungary Estimated205.52+4.5%
43Argentina Estimated145.44+63.4%

Other periods

About this ranking

Quarter-end gross core debt of households, NPISHs and non-financial corporations from all lender sectors, in USD billion, converted by the BIS at quarter-end exchange rates.

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.USD.A, quarterly, private nonfinancial credit usd. 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.USD.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.USD.A, quarterly, private nonfinancial credit usd (Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1

MLA 9

BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd, Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1. Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-Q1. Accessed 12 Oct. 2026.

Chicago (author-date)

Bank for International Settlements. n.d. BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd. Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1. Also distributed by Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-Q1.

Harvard

Bank for International Settlements (no date) BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd, Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1, via Invokely: https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-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.USD.A, quarterly, private nonfinancial credit usd: Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-Q1. Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS\_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd. 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.USD.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.USD.A, quarterly, private nonfinancial credit usd: Countries by private non-financial credit outstanding in USD, 2025-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.USD.A?format=csv&startPeriod=1970-Q1
L2  - https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-Q1
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/rankings/private-nonfinancial-credit-usd/countries?period=2025-Q1.
N1  - Publisher attribution: Bank for International Settlements (BIS), compiled from central bank and other national sources. BIS WS_TC: P.A.M.USD.A, quarterly, private nonfinancial credit usd. 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.USD.A?format=csv&startPeriod=1970-Q1. Retrieved 2026-10-12.
ER  - 
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Rank Countries by private non-financial credit outstanding in USD using official data, and cite the source.
rank_places {"indicator":"private_nonfinancial_credit_usd","level":"country","limit":10}
GET https://invokely.ai/api/v1/rank?indicator=private_nonfinancial_credit_usd&level=country&limit=10

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Questions

Which country has the highest private non-financial credit outstanding in USD?

The United States, with $41.96 trillion in Q1 2025, according to the Bank for International Settlements.

Which country has the lowest private non-financial credit outstanding in USD?

Argentina, with $145.44 billion in Q1 2025.

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.USD.A, quarterly, private nonfinancial credit usd. Retrieved 2026-10-12.

Private non-financial credit outstanding in USD: other rankings

Countries: more rankings