Domestic credit to private sector by banks in Iceland
Iceland: Domestic credit to private sector by banks was 89.2% in 2025. ◆ Volatile
Domestic credit to private sector by banks in Iceland, 1960–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Iceland recorded 89.2% for domestic credit to private sector by banks in 2025.
The figure is down 2.0% on the previous year and up 3.4% over ten years.
Over the whole period, domestic credit to private sector by banks in Iceland peaked at 301.0% in 2006 and was at its lowest, 23.4%, in 1978.
That places Iceland 25th out of 187 countries with data for 2025, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Domestic credit to private sector by banks in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 44.4% | — |
| 1961 | 42.5% | -4.3% |
| 1962 | 39.9% | -6.3% |
| 1963 | 38.4% | -3.8% |
| 1964 | 29.7% | -22.7% |
| 1965 | 31.2% | +5.0% |
| 1966 | 30.4% | -2.5% |
| 1967 | 34.5% | +13.6% |
| 1968 | 36.6% | +6.0% |
| 1969 | 32.2% | -11.9% |
| 1970 | 29.8% | -7.7% |
| 1971 | 28.9% | -3.1% |
| 1972 | 28.1% | -2.7% |
| 1973 | 27.2% | -3.0% |
| 1974 | 29.7% | +9.1% |
| 1975 | 27.5% | -7.5% |
| 1976 | 25.0% | -9.2% |
| 1977 | 24.3% | -2.8% |
| 1978 | 23.4% | -3.7% |
| 1979 | 25.0% | +6.9% |
| 1980 | 25.6% | +2.5% |
| 1981 | 28.0% | +9.5% |
| 1982 | 34.8% | +24.2% |
| 1983 | 36.6% | +5.2% |
| 1984 | 38.0% | +3.9% |
| 1985 | 36.6% | -3.7% |
| 1986 | 31.8% | -13.0% |
| 1987 | 34.1% | +7.1% |
| 1988 | 38.1% | +11.6% |
| 1989 | 44.0% | +15.6% |
| 1990 | 40.3% | -8.5% |
| 1991 | 41.5% | +3.1% |
| 1992 | 44.5% | +7.2% |
| 1993 | 44.5% | +0.0% |
| 1994 | 42.4% | -4.7% |
| 1995 | 43.8% | +3.3% |
| 1996 | 46.3% | +5.7% |
| 1997 | 63.8% | +37.7% |
| 1998 | 61.4% | -3.7% |
| 1999 | 70.0% | +14.0% |
| 2000 | 92.4% | +32.0% |
| 2001 | 94.1% | +1.9% |
| 2002 | 99.5% | +5.8% |
| 2003 | 123.7% | +24.3% |
| 2004 | 156.2% | +26.3% |
| 2005 | 235.5% | +50.7% |
| 2006 | 301.0% | +27.8% |
| 2007 | 243.2% | -19.2% |
| 2008 | 191.0% | -21.5% |
| 2009 | 171.8% | -10.0% |
| 2010 | 157.6% | -8.3% |
| 2011 | 134.9% | -14.4% |
| 2012 | 116.3% | -13.7% |
| 2013 | 106.4% | -8.5% |
| 2014 | 93.3% | -12.3% |
| 2015 | 86.3% | -7.4% |
| 2016 | 83.0% | -3.8% |
| 2017 | 85.7% | +3.2% |
| 2018 | 89.5% | +4.5% |
| 2019 | 87.7% | -2.0% |
| 2020 | 98.4% | +12.3% |
| 2021 | 99.5% | +1.1% |
| 2022 | 93.0% | -6.5% |
| 2023 | 88.3% | -5.1% |
| 2024 | 91.1% | +3.2% |
| 2025 | 89.2% | -2.0% |
Iceland compared with similar countries
- Iceland's 89.2% is above the median for high income countries, which is 64.3%, 1.4× the median. (61 countries reporting)
- Iceland's 89.2% is above the median for Europe & Central Asia, which is 52.1%, 1.7× the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 36.0% | 29.7% | 44.4% | 10 |
| 1970s | 26.9% | 23.4% | 29.8% | 10 |
| 1980s | 34.8% | 25.6% | 44.0% | 10 |
| 1990s | 49.8% | 40.3% | 70.0% | 10 |
| 2000s | 170.8% | 92.4% | 301.0% | 10 |
| 2010s | 104.1% | 83.0% | 157.6% | 10 |
| 2020s | 93.3% | 88.3% | 99.5% | 6 |
Countries ranked near Iceland
More financial sector data for Iceland
- 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 0.0025 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 243.62 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 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 177.89 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 0.0025 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 243.62 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 Iceland?
- Domestic credit to private sector by banks in Iceland was 89.2% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Iceland?
- The highest recorded value was 301.0% in 2006.
- What is the lowest domestic credit to private sector by banks recorded in Iceland?
- The lowest recorded value was 23.4% in 1978.
- How does Iceland rank for domestic credit to private sector by banks?
- Iceland ranks 25th out of 187 countries with data for 2025.
- Is domestic credit to private sector by banks rising or falling in Iceland?
- Over the last ten years it is up 3.4%. The long-run trend across the full record is volatile.
- Where does this Iceland 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.