Sri Lanka - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in Sri Lanka was 49.82 as of 2019. Its highest value over the past 59 years was 50.17 in 2018, while its lowest value was 7.23 in 1962.

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 7.27
1961 7.33
1962 7.23
1963 8.63
1964 9.37
1965 9.18
1966 9.78
1967 10.35
1968 11.30
1969 12.36
1970 11.70
1971 12.36
1972 13.89
1973 11.59
1974 13.41
1975 12.65
1976 12.97
1977 15.69
1978 20.31
1979 22.63
1980 17.17
1981 18.14
1982 19.62
1983 21.08
1984 19.30
1985 20.68
1986 20.36
1987 20.19
1988 21.80
1989 20.18
1990 19.62
1991 8.82
1992 9.06
1993 9.83
1994 10.96
1995 31.07
1996 29.90
1997 29.44
1998 28.72
1999 29.26
2000 28.83
2001 30.73
2002 31.03
2003 30.75
2004 32.39
2005 33.08
2006 34.67
2007 34.24
2008 29.54
2009 25.74
2010 25.52
2011 35.01
2012 35.02
2013 34.75
2014 35.87
2015 41.60
2016 45.37
2017 47.37
2018 50.17
2019 49.82

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