Domestic credit to private sector by banks in Korea
Korea: Domestic credit to private sector by banks was 160.3% in 2024. ◆ Volatile
Domestic credit to private sector by banks in Korea, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Korea recorded 160.3% for domestic credit to private sector by banks in 2024.
The figure is down 1.9% on the previous year and up 27.8% over ten years.
Over the whole period, domestic credit to private sector by banks in Korea peaked at 163.5% in 2023 and was at its lowest, 4.8%, in 1960.
That places Korea 4th out of 187 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Domestic credit to private sector by banks in Korea, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 4.8% | — |
| 1961 | 11.1% | +129.0% |
| 1962 | 12.5% | +12.4% |
| 1963 | 10.4% | -16.9% |
| 1964 | 8.3% | -19.9% |
| 1965 | 9.8% | +18.3% |
| 1966 | 10.6% | +7.9% |
| 1967 | 16.7% | +57.4% |
| 1968 | 25.3% | +51.7% |
| 1969 | 31.6% | +25.1% |
| 1970 | 32.6% | +3.0% |
| 1971 | 34.6% | +6.1% |
| 1972 | 33.6% | -2.7% |
| 1973 | 33.7% | +0.2% |
| 1974 | 34.7% | +2.9% |
| 1975 | 32.5% | -6.4% |
| 1976 | 29.8% | -8.5% |
| 1977 | 28.9% | -2.8% |
| 1978 | 31.6% | +9.4% |
| 1979 | 34.3% | +8.5% |
| 1980 | 39.1% | +13.9% |
| 1981 | 39.4% | +0.8% |
| 1982 | 42.9% | +8.9% |
| 1983 | 42.3% | -1.3% |
| 1984 | 41.9% | -1.1% |
| 1985 | 44.3% | +5.8% |
| 1986 | 43.5% | -1.8% |
| 1987 | 41.9% | -3.8% |
| 1988 | 39.3% | -6.2% |
| 1989 | 43.6% | +11.0% |
| 1990 | 45.6% | +4.7% |
| 1991 | 45.6% | -0.1% |
| 1992 | 44.8% | -1.8% |
| 1993 | 44.5% | -0.7% |
| 1994 | 45.2% | +1.6% |
| 1995 | 44.4% | -1.7% |
| 1996 | 47.4% | +6.9% |
| 1997 | 52.4% | +10.5% |
| 1998 | 57.2% | +9.2% |
| 1999 | 62.6% | +9.4% |
| 2000 | 67.7% | +8.1% |
| 2001 | 99.6% | +47.2% |
| 2002 | 108.7% | +9.1% |
| 2003 | 107.2% | -1.4% |
| 2004 | 102.0% | -4.8% |
| 2005 | 106.1% | +4.0% |
| 2006 | 117.5% | +10.8% |
| 2007 | 124.0% | +5.5% |
| 2008 | 136.2% | +9.8% |
| 2009 | 132.6% | -2.6% |
| 2010 | 124.7% | -6.0% |
| 2011 | 127.1% | +1.9% |
| 2012 | 125.1% | -1.5% |
| 2013 | 122.8% | -1.9% |
| 2014 | 125.5% | +2.2% |
| 2015 | 125.9% | +0.3% |
| 2016 | 128.0% | +1.7% |
| 2017 | 129.5% | +1.2% |
| 2018 | 133.5% | +3.1% |
| 2019 | 142.7% | +6.9% |
| 2020 | 154.7% | +8.5% |
| 2021 | 159.9% | +3.3% |
| 2022 | 162.8% | +1.8% |
| 2023 | 163.5% | +0.5% |
| 2024 | 160.3% | -1.9% |
Korea compared with similar countries
- Korea's 160.3% is above the median for high income countries, which is 64.3%, 2.5× the median. (61 countries reporting)
- Korea's 160.3% is above the median for East Asia & Pacific, which is 65.2%, 2.5× the median. (26 countries reporting)
Biggest year-on-year movements
Years where Domestic credit to private sector by banks in Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1961 | +129.0% | 4.8% | 11.1% |
| 1967 | +57.4% | 10.6% | 16.7% |
| 1968 | +51.7% | 16.7% | 25.3% |
| 2001 | +47.2% | 67.7% | 99.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 14.1% | 4.8% | 31.6% | 10 |
| 1970s | 32.6% | 28.9% | 34.7% | 10 |
| 1980s | 41.8% | 39.1% | 44.3% | 10 |
| 1990s | 49.0% | 44.4% | 62.6% | 10 |
| 2000s | 110.2% | 67.7% | 136.2% | 10 |
| 2010s | 128.5% | 122.8% | 142.7% | 10 |
| 2020s | 160.3% | 154.7% | 163.5% | 5 |
Countries ranked near Korea
- 1 Hong Kong, China 222.6% compare
- 2 China 194.3% compare
- 3 Switzerland 167.8% compare
- 5 Denmark 144.1% compare
- 6 Australia 133.8% compare
- 7 New Zealand 129.7% compare
More financial sector data for Korea
- Reserve position in the IMF, US dollar, annual growth rate 6.29 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 58.67 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.21 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 42.84 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.29 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 58.67 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.21 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Korea?
- Domestic credit to private sector by banks in Korea was 160.3% 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 Korea?
- The highest recorded value was 163.5% in 2023.
- What is the lowest domestic credit to private sector by banks recorded in Korea?
- The lowest recorded value was 4.8% in 1960.
- How does Korea rank for domestic credit to private sector by banks?
- Korea ranks 4th out of 187 countries with data for 2024.
- Is domestic credit to private sector by banks rising or falling in Korea?
- Over the last ten years it is up 27.8%. The long-run trend across the full record is volatile.
- Where does this Korea 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.