Trinidad and Tobago - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in Trinidad and Tobago was 44.95 as of 2020. Its highest value over the past 60 years was 47.41 in 2001, while its lowest value was 7.93 in 1961.

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 8.47
1961 7.93
1962 8.80
1963 8.20
1964 9.60
1965 11.38
1966 12.80
1967 13.92
1968 13.37
1969 17.44
1970 20.10
1971 20.41
1972 24.15
1973 22.83
1974 15.88
1975 16.76
1976 20.48
1977 23.39
1978 27.38
1979 24.86
1980 22.12
1981 24.18
1982 25.05
1983 30.44
1984 32.63
1985 32.34
1986 34.28
1987 35.50
1988 34.14
1989 33.65
1990 29.84
1991 33.73
1992 33.35
1993 32.00
1994 26.02
1995 27.57
1996 28.32
1997 33.13
1998 35.41
1999 33.90
2000 31.90
2001 47.41
2002 47.15
2003 39.34
2004 37.96
2005 33.49
2006 32.69
2007 32.05
2008 26.71
2009 35.95
2010 30.85
2011 28.13
2012 28.42
2013 27.89
2014 29.55
2015 35.02
2016 38.68
2017 39.91
2018 39.27
2019 41.93
2020 44.95

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