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

Domestic credit to private sector (% of GDP) in Singapore was 132.68 as of 2020. Its highest value over the past 57 years was 132.68 in 2020, while its lowest value was 33.68 in 1963.

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
1963 33.68
1964 37.92
1965 37.27
1966 37.48
1967 35.78
1968 38.29
1969 41.80
1970 45.31
1971 44.88
1972 50.25
1973 59.08
1974 53.31
1975 56.01
1976 57.34
1977 58.17
1978 60.19
1979 64.59
1980 68.91
1981 75.34
1982 80.12
1983 85.61
1984 85.33
1985 87.61
1986 84.35
1987 80.58
1988 76.35
1989 79.54
1990 79.16
1991 79.87
1992 81.09
1993 80.97
1994 81.19
1995 88.29
1996 93.74
1997 96.47
1998 107.93
1999 102.71
2000 96.05
2001 115.02
2002 102.02
2003 104.78
2004 95.73
2005 89.22
2006 84.29
2007 85.35
2008 97.86
2009 96.86
2010 94.86
2011 104.70
2012 112.97
2013 124.07
2014 128.13
2015 122.42
2016 123.83
2017 120.96
2018 118.07
2019 120.03
2020 132.68

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