North America - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in North America was 215.95 as of 2020. Its highest value over the past 60 years was 215.95 in 2020, while its lowest value was 67.25 in 1960.

Definition: Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, 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. The financial corporations include 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 67.25
1961 71.23
1962 71.85
1963 76.27
1964 78.90
1965 81.77
1966 79.67
1967 83.06
1968 83.92
1969 82.94
1970 83.58
1971 86.77
1972 91.18
1973 90.30
1974 87.55
1975 86.06
1976 85.44
1977 86.32
1978 88.36
1979 89.81
1980 91.05
1981 87.57
1982 90.53
1983 93.29
1984 94.05
1985 100.57
1986 106.61
1987 108.68
1988 109.52
1989 113.22
1990 111.04
1991 115.22
1992 114.79
1993 117.48
1994 116.86
1995 126.07
1996 133.42
1997 141.97
1998 152.71
1999 165.41
2000 156.60
2001 167.62
2002 159.40
2003 172.72
2004 179.48
2005 183.14
2006 192.70
2007 199.00
2008 179.95
2009 187.86
2010 182.61
2011 175.12
2012 175.68
2013 184.67
2014 184.90
2015 179.59
2016 182.32
2017 190.71
2018 179.46
2019 190.82
2020 215.95

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 are taken from the financial corporations survey (line 52D) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository survey (line 32D). The banking sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial corporations 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 financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets