Iceland - Domestic credit to private sector by banks (% of GDP)

Domestic credit to private sector by banks (% of GDP) in Iceland was 99.84 as of 2020. Its highest value over the past 60 years was 304.58 in 2006, while its lowest value was 24.18 in 1978.

Definition: Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.

Source: International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1960 46.68
1961 44.69
1962 41.90
1963 40.32
1964 31.17
1965 32.73
1966 31.92
1967 36.26
1968 38.45
1969 33.88
1970 30.81
1971 29.86
1972 29.04
1973 28.18
1974 30.73
1975 28.44
1976 25.82
1977 25.11
1978 24.18
1979 25.83
1980 26.47
1981 28.98
1982 36.01
1983 37.89
1984 39.36
1985 37.89
1986 32.96
1987 35.31
1988 39.39
1989 45.55
1990 41.67
1991 42.97
1992 46.06
1993 46.06
1994 43.92
1995 45.35
1996 47.94
1997 65.00
1998 62.36
1999 70.95
2000 93.52
2001 95.10
2002 100.56
2003 125.15
2004 157.80
2005 239.56
2006 304.58
2007 246.61
2008 192.82
2009 172.59
2010 159.58
2011 136.39
2012 117.84
2013 107.18
2014 94.23
2015 87.23
2016 84.19
2017 86.82
2018 90.89
2019 88.12
2020 99.84

Development Relevance: Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure.

Limitations and Exceptions: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises.

Statistical Concept and Methodology: Credit is an important link in money transmission; it finances production, consumption, and capital formation, which in turn affect economic activity. The data on domestic credit provided to the private sector by banks are taken from the other depository corporations survey (line 22D) of the International Monetary Fund's (IMF) International Financial Statistics. The other depository corporations include all deposit taking corporations (deposit money banks) except monetary authorities (the central bank).

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets