Pacific island small states - Domestic credit to private sector by banks (% of GDP)

Domestic credit to private sector by banks (% of GDP) in Pacific island small states was 61.05 as of 2020. Its highest value over the past 59 years was 61.05 in 2020, while its lowest value was 9.05 in 1964.

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
1961 11.26
1962 9.68
1963 9.13
1964 9.05
1965 9.90
1966 10.25
1967 9.79
1968 11.24
1969 11.20
1970 12.38
1971 14.53
1972 15.46
1973 17.04
1974 16.79
1975 13.40
1976 16.08
1977 17.76
1978 16.40
1979 19.35
1980 19.14
1981 21.46
1982 20.55
1983 21.74
1984 23.14
1985 24.90
1986 24.24
1987 25.52
1988 25.34
1989 29.50
1990 31.38
1991 33.91
1992 33.19
1993 34.03
1994 32.68
1995 32.59
1996 31.83
1997 28.58
1998 26.67
1999 25.34
2000 28.97
2001 26.89
2002 33.83
2003 35.59
2004 39.48
2005 45.71
2006 50.52
2007 51.07
2008 53.38
2009 52.74
2010 50.59
2011 47.73
2012 47.80
2013 48.13
2014 48.91
2015 50.98
2016 53.87
2017 54.52
2018 54.91
2019 55.56
2020 61.05

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