United States - Domestic credit provided by financial sector (% of GDP)

Domestic credit provided by financial sector (% of GDP) in United States was 280.49 as of 2020. Its highest value over the past 60 years was 280.49 in 2020, while its lowest value was 101.08 in 1960.

Definition: Domestic credit provided by the financial sector includes all credit to various sectors on a gross basis, with the exception of credit to the central government, which is net. The financial sector includes monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.

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

See also:

Year Value
1960 101.08
1961 106.46
1962 106.26
1963 110.34
1964 112.38
1965 114.02
1966 109.49
1967 113.97
1968 114.38
1969 110.70
1970 112.69
1971 116.13
1972 119.88
1973 117.20
1974 113.78
1975 113.66
1976 113.99
1977 113.62
1978 113.72
1979 114.10
1980 116.44
1981 111.50
1982 118.04
1983 122.99
1984 124.19
1985 134.29
1986 143.46
1987 145.60
1988 144.54
1989 147.77
1990 145.62
1991 152.86
1992 154.28
1993 158.40
1994 156.34
1995 166.24
1996 171.59
1997 180.07
1998 190.52
1999 201.89
2000 191.57
2001 199.36
2002 192.53
2003 207.54
2004 214.00
2005 217.29
2006 227.02
2007 236.33
2008 214.61
2009 222.53
2010 218.85
2011 220.09
2012 222.11
2013 230.84
2014 233.11
2015 226.81
2016 231.73
2017 241.30
2018 228.40
2019 242.39
2020 280.49

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: In a few countries governments may hold international reserves as deposits in the banking system rather than in the central bank. Since claims on the central government are a net item (claims on the central government minus central government deposits), the figure may be negative, resulting in a negative figure for domestic credit provided by the banking sector.

Statistical Concept and Methodology: Domestic credit provided by the financial sector as a share of GDP measures banking sector depth and financial sector development in terms of size. The data on domestic credit provided by the financial sector are taken from the financial corporations survey (line 52) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository corporations survey (line 32). The financial sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial institutions where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other banking institutions are savings and mortgage loan institutions, finance companies, development banks, and building and loan associations.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets