Domestic credit to private sector by banks in Singapore
Singapore: Domestic credit to private sector by banks was 128.4% in 2020. ▲ Rising
Domestic credit to private sector by banks in Singapore, 1963–2020
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Singapore recorded 128.4% for domestic credit to private sector by banks in 2020. That is the highest value across all 58 years on record.
The figure is up 7.7% on the previous year and up 35.4% over ten years.
Over the whole period, domestic credit to private sector by banks in Singapore peaked at 128.4% in 2020 and was at its lowest, 33.7%, in 1963.
That places Singapore 8th out of 187 countries with data for 2020, putting it in the top 10%.
The long-run direction has been consistently rising across the 58 years of available data.
Domestic credit to private sector by banks in Singapore, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1963 | 33.7% | — |
| 1964 | 37.9% | +12.6% |
| 1965 | 37.3% | -1.7% |
| 1966 | 37.5% | +0.6% |
| 1967 | 35.8% | -4.5% |
| 1968 | 38.3% | +7.0% |
| 1969 | 41.8% | +9.2% |
| 1970 | 45.3% | +8.4% |
| 1971 | 44.9% | -1.0% |
| 1972 | 50.3% | +12.0% |
| 1973 | 59.1% | +17.6% |
| 1974 | 53.3% | -9.8% |
| 1975 | 56.0% | +5.1% |
| 1976 | 57.3% | +2.4% |
| 1977 | 58.2% | +1.5% |
| 1978 | 60.2% | +3.5% |
| 1979 | 64.6% | +7.3% |
| 1980 | 68.9% | +6.7% |
| 1981 | 75.3% | +9.4% |
| 1982 | 80.1% | +6.3% |
| 1983 | 85.6% | +6.9% |
| 1984 | 85.3% | -0.3% |
| 1985 | 87.6% | +2.7% |
| 1986 | 84.3% | -3.7% |
| 1987 | 80.6% | -4.5% |
| 1988 | 76.3% | -5.2% |
| 1989 | 79.5% | +4.2% |
| 1990 | 79.2% | -0.5% |
| 1991 | 79.9% | +0.9% |
| 1992 | 81.1% | +1.5% |
| 1993 | 81.0% | -0.1% |
| 1994 | 81.2% | +0.3% |
| 1995 | 88.3% | +8.8% |
| 1996 | 93.7% | +6.2% |
| 1997 | 96.5% | +2.9% |
| 1998 | 107.9% | +11.9% |
| 1999 | 102.7% | -4.8% |
| 2000 | 96.0% | -6.5% |
| 2001 | 115.0% | +19.8% |
| 2002 | 102.0% | -11.3% |
| 2003 | 104.8% | +2.7% |
| 2004 | 95.7% | -8.6% |
| 2005 | 89.2% | -6.8% |
| 2006 | 84.3% | -5.5% |
| 2007 | 85.4% | +1.3% |
| 2008 | 97.9% | +14.7% |
| 2009 | 96.9% | -1.0% |
| 2010 | 94.9% | -2.1% |
| 2011 | 104.7% | +10.4% |
| 2012 | 113.0% | +7.9% |
| 2013 | 124.1% | +9.8% |
| 2014 | 128.1% | +3.3% |
| 2015 | 122.4% | -4.5% |
| 2016 | 123.1% | +0.5% |
| 2017 | 120.4% | -2.1% |
| 2018 | 117.4% | -2.5% |
| 2019 | 119.3% | +1.5% |
| 2020 | 128.4% | +7.7% |
Singapore compared with similar countries
- Singapore's 128.4% is above the median for high income countries, which is 64.3%, 2.0× the median. (61 countries reporting)
- Singapore's 128.4% is above the median for East Asia & Pacific, which is 65.2%, 2.0× the median. (26 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 37.5% | 33.7% | 41.8% | 7 |
| 1970s | 54.9% | 44.9% | 64.6% | 10 |
| 1980s | 80.4% | 68.9% | 87.6% | 10 |
| 1990s | 89.1% | 79.2% | 107.9% | 10 |
| 2000s | 96.7% | 84.3% | 115.0% | 10 |
| 2010s | 116.7% | 94.9% | 128.1% | 10 |
| 2020s | 128.4% | 128.4% | 128.4% | 1 |
Countries ranked near Singapore
More financial sector data for Singapore
- Reserve position in the IMF, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 230.78 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 3.73 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0017 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 168.51 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 8.93 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0023 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 230.78 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 3.73 % change on previous year (2025)
Frequently asked questions
- What is domestic credit to private sector by banks in Singapore?
- Domestic credit to private sector by banks in Singapore was 128.4% in 2020, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest domestic credit to private sector by banks recorded in Singapore?
- The highest recorded value was 128.4% in 2020.
- What is the lowest domestic credit to private sector by banks recorded in Singapore?
- The lowest recorded value was 33.7% in 1963.
- How does Singapore rank for domestic credit to private sector by banks?
- Singapore ranks 8th out of 187 countries with data for 2020.
- Is domestic credit to private sector by banks rising or falling in Singapore?
- Over the last ten years it is up 35.4%. The long-run trend across the full record is rising.
- Where does this Singapore 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 — 58 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.