Domestic credit to private sector by banks in Cyprus
Cyprus: Domestic credit to private sector by banks was 56.6% in 2024. ▼ Falling
Domestic credit to private sector by banks in Cyprus, 2001–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Cyprus recorded 56.6% for domestic credit to private sector by banks in 2024. That is the lowest value across all 24 years on record.
Compared with earlier readings it is down 6.5% on the previous year and down 77.5% over ten years.
Over the whole period, domestic credit to private sector by banks in Cyprus peaked at 254.6% in 2013 and was at its lowest, 56.6%, in 2024.
Cyprus ranks 61st of 187 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Domestic credit to private sector by banks in Cyprus, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2001 | 144.4% | — |
| 2002 | 149.5% | +3.5% |
| 2003 | 147.2% | -1.5% |
| 2004 | 147.3% | +0.1% |
| 2005 | 156.5% | +6.2% |
| 2006 | 162.8% | +4.0% |
| 2007 | 180.6% | +10.9% |
| 2008 | 212.1% | +17.5% |
| 2009 | 226.2% | +6.7% |
| 2010 | 234.1% | +3.5% |
| 2011 | 242.4% | +3.5% |
| 2012 | 249.1% | +2.8% |
| 2013 | 254.6% | +2.2% |
| 2014 | 251.7% | -1.1% |
| 2015 | 243.3% | -3.3% |
| 2016 | 216.1% | -11.2% |
| 2017 | 191.7% | -11.3% |
| 2018 | 135.2% | -29.4% |
| 2019 | 106.6% | -21.2% |
| 2020 | 106.4% | -0.2% |
| 2021 | 87.3% | -17.9% |
| 2022 | 70.8% | -19.0% |
| 2023 | 60.5% | -14.5% |
| 2024 | 56.6% | -6.5% |
Cyprus compared with similar countries
- Cyprus's 56.6% is below the median for high income countries, which is 64.3%, 88% of the median. (61 countries reporting)
- Cyprus's 56.6% is above the median for Europe & Central Asia, which is 52.1%, 1.1× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 169.6% | 144.4% | 226.2% | 9 |
| 2010s | 212.5% | 106.6% | 254.6% | 10 |
| 2020s | 76.3% | 56.6% | 106.4% | 5 |
Countries ranked near Cyprus
More financial sector data for Cyprus
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0028 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 84.99 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 62.06 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0028 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 84.99 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Cyprus?
- Domestic credit to private sector by banks in Cyprus was 56.6% in 2024, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Cyprus?
- The highest recorded value was 254.6% in 2013.
- What is the lowest domestic credit to private sector by banks recorded in Cyprus?
- The lowest recorded value was 56.6% in 2024.
- How does Cyprus rank for domestic credit to private sector by banks?
- Cyprus ranks 61st out of 187 countries with data for 2024.
- Is domestic credit to private sector by banks rising or falling in Cyprus?
- Over the last ten years it is down 77.5%. The long-run trend across the full record is falling.
- Where does this Cyprus 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.