Philippines - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in Philippines was 52.07 as of 2020. Its highest value over the past 60 years was 52.07 in 2020, while its lowest value was 10.68 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 10.68
1961 13.75
1962 14.70
1963 16.50
1964 18.04
1965 17.08
1966 17.44
1967 19.36
1968 19.05
1969 18.20
1970 18.05
1971 17.67
1972 19.24
1973 20.27
1974 22.03
1975 22.06
1976 22.44
1977 23.41
1978 25.94
1979 27.49
1980 27.69
1981 28.91
1982 29.41
1983 32.47
1984 21.51
1985 17.68
1986 13.06
1987 14.03
1988 14.16
1989 15.23
1990 16.90
1991 15.65
1992 18.10
1993 23.15
1994 25.48
1995 32.87
1996 42.87
1997 49.40
1998 41.99
1999 37.33
2000 35.61
2001 36.27
2002 33.66
2003 31.95
2004 31.01
2005 27.90
2006 27.47
2007 27.64
2008 27.88
2009 27.90
2010 28.33
2011 30.50
2012 31.91
2013 34.34
2014 37.58
2015 39.90
2016 42.86
2017 45.61
2018 47.56
2019 47.97
2020 52.07

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