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

Domestic credit provided by financial sector (% of GDP) in Venezuela was 22.51 as of 2010. Its highest value over the past 47 years was 65.76 in 1983, while its lowest value was 10.51 in 2004.

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
1963 23.49
1964 22.78
1965 24.81
1966 21.78
1967 22.62
1968 23.68
1969 27.75
1970 27.97
1971 29.70
1972 33.10
1973 36.29
1974 28.00
1975 36.08
1976 41.61
1977 46.90
1978 53.90
1979 50.22
1980 52.12
1981 55.88
1982 63.73
1983 65.76
1984 49.74
1985 48.84
1986 55.36
1987 48.63
1988 53.13
1989 36.22
1990 37.39
1991 32.68
1992 33.82
1993 31.27
1994 34.62
1995 35.84
1996 19.27
1997 17.50
1998 18.19
1999 17.57
2000 14.91
2001 15.79
2002 15.27
2003 10.60
2004 10.51
2005 12.64
2006 18.42
2007 19.94
2008 20.18
2009 25.90
2010 22.51

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