North America - Domestic credit to private sector by banks (% of GDP)

Domestic credit to private sector by banks (% of GDP) in North America was 54.41 as of 2020. Its highest value over the past 60 years was 65.92 in 2008, while its lowest value was 37.50 in 1960.

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
1960 37.50
1961 39.18
1962 40.80
1963 43.62
1964 45.31
1965 47.20
1966 46.82
1967 47.60
1968 47.94
1969 48.43
1970 48.38
1971 49.53
1972 52.64
1973 55.13
1974 55.85
1975 53.06
1976 52.86
1977 54.96
1978 56.32
1979 56.54
1980 55.20
1981 53.82
1982 52.79
1983 52.63
1984 54.27
1985 55.70
1986 57.24
1987 57.47
1988 58.14
1989 57.39
1990 54.59
1991 51.45
1992 48.24
1993 46.80
1994 46.72
1995 47.91
1996 48.63
1997 49.06
1998 49.38
1999 49.28
2000 50.66
2001 54.80
2002 54.67
2003 55.93
2004 58.16
2005 60.75
2006 63.87
2007 65.38
2008 65.92
2009 54.01
2010 52.47
2011 50.81
2012 50.07
2013 49.36
2014 49.80
2015 51.00
2016 52.25
2017 52.43
2018 52.01
2019 52.03
2020 54.41

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