Domestic credit to private sector by banks in Heavily indebted poor countries (HIPC)
Heavily indebted poor countries (HIPC): Domestic credit to private sector by banks was 21.5% in 2023. ▲ Rising
Domestic credit to private sector by banks in Heavily indebted poor countries (HIPC), 1961–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2023, domestic credit to private sector by banks in Heavily indebted poor countries (HIPC) stood at 21.5%. That is the highest value across all 63 years on record.
The figure is up 6.4% on the previous year and up 36.0% over ten years.
Over the whole period, domestic credit to private sector by banks in Heavily indebted poor countries (HIPC) peaked at 21.5% in 2023 and was at its lowest, 5.7%, in 1963.
That places Heavily indebted poor countries (HIPC) 43rd out of 47 groups with data for 2023, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 63 years of available data.
Domestic credit to private sector by banks in Heavily indebted poor countries (HIPC), year by year
| Year | % of GDP | Change |
|---|---|---|
| 1961 | 5.9% | — |
| 1962 | 6.4% | +9.1% |
| 1963 | 5.7% | -10.6% |
| 1964 | 6.7% | +16.9% |
| 1965 | 6.4% | -3.8% |
| 1966 | 6.7% | +4.5% |
| 1967 | 7.3% | +7.8% |
| 1968 | 7.5% | +3.0% |
| 1969 | 7.6% | +1.1% |
| 1970 | 8.6% | +14.0% |
| 1971 | 9.1% | +5.1% |
| 1972 | 9.5% | +4.5% |
| 1973 | 9.9% | +4.4% |
| 1974 | 11.0% | +11.5% |
| 1975 | 12.0% | +9.2% |
| 1976 | 11.9% | -1.0% |
| 1977 | 12.6% | +5.6% |
| 1978 | 13.5% | +7.1% |
| 1979 | 14.4% | +6.8% |
| 1980 | 14.8% | +2.9% |
| 1981 | 14.6% | -1.0% |
| 1982 | 14.8% | +1.3% |
| 1983 | 13.7% | -7.9% |
| 1984 | 12.2% | -10.7% |
| 1985 | 11.9% | -2.5% |
| 1986 | 13.1% | +10.2% |
| 1987 | 14.2% | +8.3% |
| 1988 | 12.9% | -9.1% |
| 1989 | 12.3% | -5.0% |
| 1990 | 12.2% | -0.7% |
| 1991 | 10.9% | -10.5% |
| 1992 | 12.0% | +10.1% |
| 1993 | 11.3% | -6.0% |
| 1994 | 10.1% | -10.1% |
| 1995 | 10.0% | -1.7% |
| 1996 | 10.6% | +6.5% |
| 1997 | 11.4% | +7.2% |
| 1998 | 12.6% | +10.4% |
| 1999 | 12.9% | +2.9% |
| 2000 | 11.4% | -11.6% |
| 2001 | 11.2% | -2.3% |
| 2002 | 10.8% | -3.2% |
| 2003 | 10.9% | +1.1% |
| 2004 | 10.8% | -0.9% |
| 2005 | 11.2% | +3.7% |
| 2006 | 11.9% | +6.1% |
| 2007 | 12.6% | +5.6% |
| 2008 | 13.0% | +3.1% |
| 2009 | 13.7% | +5.8% |
| 2010 | 13.8% | +0.5% |
| 2011 | 14.2% | +3.3% |
| 2012 | 15.4% | +8.1% |
| 2013 | 15.8% | +2.6% |
| 2014 | 16.6% | +5.1% |
| 2015 | 18.2% | +9.6% |
| 2016 | 19.0% | +4.7% |
| 2017 | 18.7% | -1.6% |
| 2018 | 18.6% | -0.4% |
| 2019 | 18.9% | +1.1% |
| 2020 | 19.9% | +5.5% |
| 2021 | 19.8% | -0.5% |
| 2022 | 20.2% | +2.1% |
| 2023 | 21.5% | +6.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 6.7% | 5.7% | 7.6% | 9 |
| 1970s | 11.2% | 8.6% | 14.4% | 10 |
| 1980s | 13.4% | 11.9% | 14.8% | 10 |
| 1990s | 11.4% | 10.0% | 12.9% | 10 |
| 2000s | 11.8% | 10.8% | 13.7% | 10 |
| 2010s | 16.9% | 13.8% | 19.0% | 10 |
| 2020s | 20.3% | 19.8% | 21.5% | 4 |
Countries ranked near Heavily indebted poor countries (HIPC)
- 40 Armenia 68.7% compare
- 41 United Arab Emirates 68.0% compare
- 42 Panama 66.8% compare
- 43 Belgium 66.8% compare
- 44 Georgia 65.9% compare
- 45 Saint Kitts and Nevis 65.0% compare
- 46 Saudi Arabia 64.3% compare
More financial sector data for Heavily indebted poor countries (HIPC)
- Total reserves in months of imports, annual growth rate 8.84 % change on previous year (2024)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2024)
- Total reserves in months of imports, per capita 0 units per person (2024)
- Net migration, annual growth rate 52.95 % change on previous year (2025)
- Total reserves in months of imports 3.89 (2024)
- Monetary Sector credit to private sector 21.7% (2023)
- Broad money 34.3% (2021)
- Net migration -391,317 (2025)
- Claims on central government, etc. 10.9% (2023)
- Domestic credit to private sector 22.2% (2023)
Frequently asked questions
- What is domestic credit to private sector by banks in Heavily indebted poor countries (HIPC)?
- Domestic credit to private sector by banks in Heavily indebted poor countries (HIPC) was 21.5% 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 Heavily indebted poor countries (HIPC)?
- The highest recorded value was 21.5% in 2023.
- What is the lowest domestic credit to private sector by banks recorded in Heavily indebted poor countries (HIPC)?
- The lowest recorded value was 5.7% in 1963.
- How does Heavily indebted poor countries (HIPC) rank for domestic credit to private sector by banks?
- Heavily indebted poor countries (HIPC) ranks 43rd out of 47 groups with data for 2023.
- Is domestic credit to private sector by banks rising or falling in Heavily indebted poor countries (HIPC)?
- Over the last ten years it is up 36.0%. The long-run trend across the full record is rising.
- Where does this Heavily indebted poor countries (HIPC) 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.