Peru - Domestic credit provided by financial sector (% of GDP)

Domestic credit provided by financial sector (% of GDP) in Peru was 19.06 as of 2011. Its highest value over the past 51 years was 36.91 in 1983, while its lowest value was 10.52 in 1994.

Definition: Domestic credit provided by the financial sector includes all credit to various sectors on a gross basis, with the exception of credit to the central government, which is net. The financial sector includes 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 17.66
1961 17.89
1962 17.48
1963 17.93
1964 19.01
1965 20.73
1966 21.61
1967 22.36
1968 21.04
1969 20.36
1970 19.54
1971 22.66
1972 25.73
1973 28.81
1974 27.84
1975 29.92
1976 32.91
1977 32.75
1978 31.46
1979 20.29
1980 23.54
1981 27.33
1982 28.44
1983 36.91
1984 34.30
1985 23.47
1986 21.55
1987 25.52
1988 25.39
1989 19.03
1990 20.12
1991 11.58
1992 12.69
1993 13.77
1994 10.52
1995 12.34
1996 13.32
1997 19.82
1998 25.08
1999 28.57
2000 26.77
2001 25.31
2002 23.50
2003 20.46
2004 17.03
2005 17.60
2006 15.17
2007 16.88
2008 19.83
2009 19.81
2010 18.87
2011 19.06

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: In a few countries governments may hold international reserves as deposits in the banking system rather than in the central bank. Since claims on the central government are a net item (claims on the central government minus central government deposits), the figure may be negative, resulting in a negative figure for domestic credit provided by the banking sector.

Statistical Concept and Methodology: Domestic credit provided by the financial sector as a share of GDP measures banking sector depth and financial sector development in terms of size. The data on domestic credit provided by the financial sector are taken from the financial corporations survey (line 52) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository corporations survey (line 32). The financial sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial institutions 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 banking institutions are savings and mortgage loan institutions, finance companies, development banks, and building and loan associations.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets