Domestic credit to private sector by banks in Norway
Norway: Domestic credit to private sector by banks was 105.9% in 2024. ▲ Rising
Domestic credit to private sector by banks in Norway, 1960–2024
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for domestic credit to private sector by banks in Norway is 105.9%, measured in 2024.
Compared with earlier readings it is up 1.8% on the previous year and down 0.5% over ten years.
Over the whole period, domestic credit to private sector by banks in Norway peaked at 133.1% in 2020 and was at its lowest, 30.5%, in 1980.
Norway ranks 19th of 187 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 65 years of available data.
Domestic credit to private sector by banks in Norway, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 31.6% | — |
| 1961 | 32.2% | +1.7% |
| 1962 | 32.4% | +0.6% |
| 1963 | 32.2% | -0.4% |
| 1964 | 31.9% | -1.2% |
| 1965 | 31.0% | -2.6% |
| 1966 | 31.9% | +2.9% |
| 1967 | 31.8% | -0.6% |
| 1968 | 32.4% | +1.9% |
| 1969 | 33.8% | +4.6% |
| 1970 | 32.5% | -3.8% |
| 1971 | 32.9% | +1.2% |
| 1972 | 33.5% | +1.8% |
| 1973 | 33.4% | -0.3% |
| 1974 | 32.8% | -1.9% |
| 1975 | 33.3% | +1.7% |
| 1976 | 30.7% | -7.8% |
| 1977 | 31.8% | +3.5% |
| 1978 | 31.3% | -1.7% |
| 1979 | 31.6% | +0.9% |
| 1980 | 30.5% | -3.3% |
| 1981 | 30.8% | +0.9% |
| 1982 | 31.6% | +2.4% |
| 1983 | 32.5% | +2.9% |
| 1984 | 36.5% | +12.4% |
| 1985 | 43.0% | +17.9% |
| 1986 | 53.3% | +23.8% |
| 1987 | 59.8% | +12.3% |
| 1988 | 61.4% | +2.6% |
| 1989 | 62.5% | +1.8% |
| 1990 | 61.8% | -1.1% |
| 1991 | 56.2% | -9.1% |
| 1992 | 55.4% | -1.5% |
| 1993 | 53.8% | -2.9% |
| 1994 | 53.8% | +0.1% |
| 1995 | 55.1% | +2.4% |
| 1996 | 57.3% | +3.9% |
| 1997 | 62.6% | +9.3% |
| 1998 | 69.5% | +11.0% |
| 1999 | 67.5% | -2.8% |
| 2000 | 64.6% | -4.4% |
| 2001 | 89.8% | +39.1% |
| 2002 | 95.8% | +6.7% |
| 2003 | 98.5% | +2.8% |
| 2004 | 96.5% | -2.1% |
| 2005 | 98.0% | +1.6% |
| 2006 | 88.3% | -9.9% |
| 2007 | 97.7% | +10.6% |
| 2008 | 100.2% | +2.6% |
| 2009 | 106.6% | +6.3% |
| 2010 | 107.3% | +0.7% |
| 2011 | 104.8% | -2.3% |
| 2012 | 102.6% | -2.1% |
| 2013 | 103.6% | +1.0% |
| 2014 | 106.5% | +2.8% |
| 2015 | 113.8% | +6.8% |
| 2016 | 118.9% | +4.6% |
| 2017 | 119.1% | +0.1% |
| 2018 | 117.1% | -1.7% |
| 2019 | 122.0% | +4.2% |
| 2020 | 133.1% | +9.1% |
| 2021 | 112.2% | -15.7% |
| 2022 | 90.3% | -19.5% |
| 2023 | 104.1% | +15.3% |
| 2024 | 105.9% | +1.8% |
Norway compared with similar countries
- Norway's 105.9% is above the median for high income countries, which is 64.3%, 1.6× the median. (61 countries reporting)
- Norway's 105.9% is above the median for Europe & Central Asia, which is 52.1%, 2.0× the median. (48 countries reporting)
Biggest year-on-year movements
Years where Domestic credit to private sector by banks in Norway 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 |
|---|---|---|---|
| 2001 | +39.1% | 64.6% | 89.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 32.1% | 31.0% | 33.8% | 10 |
| 1970s | 32.4% | 30.7% | 33.5% | 10 |
| 1980s | 44.2% | 30.5% | 62.5% | 10 |
| 1990s | 59.3% | 53.8% | 69.5% | 10 |
| 2000s | 93.6% | 64.6% | 106.6% | 10 |
| 2010s | 111.6% | 102.6% | 122.0% | 10 |
| 2020s | 109.1% | 90.3% | 133.1% | 5 |
Countries ranked near Norway
More financial sector data for Norway
- Reserve position in the IMF, US dollar, annual growth rate 7.97 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0026 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 242.26 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.82 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0019 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 176.9 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.97 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0026 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 242.26 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.82 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Norway?
- Domestic credit to private sector by banks in Norway was 105.9% 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 Norway?
- The highest recorded value was 133.1% in 2020.
- What is the lowest domestic credit to private sector by banks recorded in Norway?
- The lowest recorded value was 30.5% in 1980.
- How does Norway rank for domestic credit to private sector by banks?
- Norway ranks 19th out of 187 countries with data for 2024.
- Is domestic credit to private sector by banks rising or falling in Norway?
- Over the last ten years it is down 0.5%. The long-run trend across the full record is rising.
- Where does this Norway 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.
Download this data
CSV · JSON — 65 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.