Papua New Guinea - Domestic credit to private sector by banks (% of GDP)

Domestic credit to private sector by banks (% of GDP) in Papua New Guinea was 14.85 as of 2020. Its highest value over the past 47 years was 29.16 in 1989, while its lowest value was 11.42 in 2006.

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
1973 15.00
1974 14.87
1975 15.76
1976 13.07
1977 13.01
1978 12.58
1979 12.52
1980 16.25
1981 19.65
1982 20.65
1983 19.50
1984 21.93
1985 23.26
1986 25.98
1987 24.85
1988 25.31
1989 29.16
1990 28.55
1991 26.10
1992 21.09
1993 16.85
1994 16.24
1995 14.54
1996 13.38
1997 17.28
1998 20.22
1999 17.61
2000 17.13
2001 16.41
2002 14.84
2003 13.53
2004 13.56
2005 14.06
2006 11.42
2007 13.97
2008 16.18
2009 18.33
2010 17.96
2011 17.62
2012 18.95
2013 20.73
2014 17.93
2015 17.61
2016 17.41
2017 15.04
2018 14.77
2019 14.52
2020 14.85

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