Trinidad and Tobago - Domestic credit provided by financial sector (% of GDP)

Domestic credit provided by financial sector (% of GDP) in Trinidad and Tobago was 33.15 as of 2009. Its highest value over the past 34 years was 69.19 in 1988, while its lowest value was -9.31 in 1977.

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
1975 -0.43
1976 -2.08
1977 -9.31
1978 -5.44
1979 -1.69
1980 -4.57
1981 -1.50
1982 17.64
1983 35.57
1984 46.71
1985 50.53
1986 59.18
1987 66.82
1988 69.19
1989 67.28
1990 58.50
1991 62.75
1992 64.05
1993 60.55
1994 48.05
1995 53.81
1996 50.97
1997 57.56
1998 56.13
1999 53.07
2000 45.20
2001 40.44
2002 44.40
2003 35.88
2004 28.33
2005 23.05
2006 18.75
2007 22.97
2008 14.54
2009 33.15

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