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

Domestic credit to private sector by banks (% of GDP) in North Macedonia was 54.10 as of 2020. Its highest value over the past 27 years was 56.41 in 1993, while its lowest value was 16.30 in 2001.

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
1993 56.41
1994 43.11
1995 21.97
1996 25.23
1997 25.92
1998 16.84
1999 19.84
2000 16.95
2001 16.30
2002 16.67
2003 17.56
2004 20.87
2005 22.99
2006 27.69
2007 34.58
2008 41.76
2009 43.87
2010 44.55
2011 45.43
2012 47.62
2013 47.15
2014 49.25
2015 50.94
2016 47.89
2017 48.52
2018 48.72
2019 49.45
2020 54.10

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