Domestic credit to private sector by banks in Africa Western and Central
Africa Western and Central: Domestic credit to private sector by banks was 15.1% in 2023. ▲ Rising
Domestic credit to private sector by banks in Africa Western and Central, 1960–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Africa Western and Central recorded 15.1% for domestic credit to private sector by banks in 2023.
The figure is up 21.7% on the previous year and up 20.7% over ten years.
Over the whole period, domestic credit to private sector by banks in Africa Western and Central peaked at 16.6% in 1980 and was at its lowest, 6.2%, in 1960.
That places Africa Western and Central 46th out of 47 groups with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 64 years of available data.
Domestic credit to private sector by banks in Africa Western and Central, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 6.2% | — |
| 1961 | 6.6% | +6.8% |
| 1962 | 7.2% | +9.8% |
| 1963 | 8.1% | +12.5% |
| 1964 | 8.5% | +4.5% |
| 1965 | 8.5% | -0.1% |
| 1966 | 8.5% | +0.7% |
| 1967 | 9.0% | +4.9% |
| 1968 | 9.0% | +0.6% |
| 1969 | 8.8% | -2.2% |
| 1970 | 7.4% | -16.7% |
| 1971 | 9.2% | +25.3% |
| 1972 | 9.5% | +2.9% |
| 1973 | 10.1% | +6.9% |
| 1974 | 9.2% | -9.4% |
| 1975 | 11.5% | +24.9% |
| 1976 | 11.6% | +1.4% |
| 1977 | 14.0% | +19.9% |
| 1978 | 16.4% | +17.2% |
| 1979 | 16.1% | -1.8% |
| 1980 | 16.6% | +3.4% |
| 1981 | 9.3% | -44.2% |
| 1982 | 10.0% | +7.6% |
| 1983 | 10.9% | +9.3% |
| 1984 | 10.9% | +0.3% |
| 1985 | 10.9% | -0.6% |
| 1986 | 14.2% | +30.7% |
| 1987 | 14.8% | +4.2% |
| 1988 | 13.7% | -7.5% |
| 1989 | 12.8% | -6.3% |
| 1990 | 12.5% | -2.3% |
| 1991 | 11.6% | -7.2% |
| 1992 | 11.6% | -0.7% |
| 1993 | 9.9% | -14.5% |
| 1994 | 8.3% | -16.1% |
| 1995 | 7.2% | -12.6% |
| 1996 | 6.7% | -7.5% |
| 1997 | 7.3% | +9.7% |
| 1998 | 7.9% | +7.2% |
| 1999 | 8.5% | +8.2% |
| 2000 | 8.5% | +0.1% |
| 2001 | 9.2% | +7.4% |
| 2002 | 8.3% | -9.6% |
| 2003 | 8.9% | +7.6% |
| 2004 | 8.7% | -3.0% |
| 2005 | 8.6% | -0.3% |
| 2006 | 8.5% | -1.9% |
| 2007 | 12.1% | +42.5% |
| 2008 | 15.1% | +25.6% |
| 2009 | 16.3% | +7.7% |
| 2010 | 12.9% | -20.7% |
| 2011 | 11.8% | -8.8% |
| 2012 | 11.5% | -2.2% |
| 2013 | 12.5% | +8.4% |
| 2014 | 13.9% | +11.3% |
| 2015 | 14.4% | +3.3% |
| 2016 | 15.8% | +9.7% |
| 2017 | 14.8% | -6.2% |
| 2018 | 13.1% | -11.0% |
| 2019 | 10.7% | -18.9% |
| 2020 | 11.2% | +5.1% |
| 2021 | 12.0% | +6.8% |
| 2022 | 12.4% | +3.5% |
| 2023 | 15.1% | +21.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 8.0% | 6.2% | 9.0% | 10 |
| 1970s | 11.5% | 7.4% | 16.4% | 10 |
| 1980s | 12.4% | 9.3% | 16.6% | 10 |
| 1990s | 9.2% | 6.7% | 12.5% | 10 |
| 2000s | 10.4% | 8.3% | 16.3% | 10 |
| 2010s | 13.1% | 10.7% | 15.8% | 10 |
| 2020s | 12.7% | 11.2% | 15.1% | 4 |
Countries ranked near Africa Western and Central
More financial sector data for Africa Western and Central
- Net migration -338,771 (2025)
- Total reserves in months of imports 7.16 (2025)
- Broad money 28.7% (2023)
- Claims on central government, etc. 10.2% (2022)
- Domestic credit to private sector 12.6% (2022)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Total reserves in months of imports, annual growth rate 13.92 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Monetary Sector credit to private sector 12.6% (2022)
- Net migration, annual growth rate -103.45 % change on previous year (2024)
Frequently asked questions
- What is domestic credit to private sector by banks in Africa Western and Central?
- Domestic credit to private sector by banks in Africa Western and Central was 15.1% in 2023, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Africa Western and Central?
- The highest recorded value was 16.6% in 1980.
- What is the lowest domestic credit to private sector by banks recorded in Africa Western and Central?
- The lowest recorded value was 6.2% in 1960.
- How does Africa Western and Central rank for domestic credit to private sector by banks?
- Africa Western and Central ranks 46th out of 47 groups with data for 2023.
- Is domestic credit to private sector by banks rising or falling in Africa Western and Central?
- Over the last ten years it is up 20.7%. The long-run trend across the full record is rising.
- Where does this Africa Western and Central data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Domestic credit to private sector by banks (% of GDP). Statizoid updates them automatically from the source API.
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About this data
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. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.