Domestic credit to private sector in Iceland
Iceland: Domestic credit to private sector was 99.8% in 2020. ◆ Volatile
Domestic credit to private sector in Iceland, 1960–2020
Source: World Development Indicators (WDI), World Bank. Measured in % of GDP.
Analysis
Iceland recorded 99.8% for domestic credit to private sector in 2020.
The figure is up 13.2% on the previous year and down 37.4% over ten years.
Over the whole period, domestic credit to private sector in Iceland peaked at 304.6% in 2006 and was at its lowest, 24.2%, in 1978.
That places Iceland 33rd out of 187 countries with data for 2020, 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 in Iceland, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 46.9% | — |
| 1961 | 44.9% | -4.2% |
| 1962 | 42.0% | -6.3% |
| 1963 | 40.4% | -3.8% |
| 1964 | 31.3% | -22.6% |
| 1965 | 32.9% | +5.3% |
| 1966 | 32.2% | -2.2% |
| 1967 | 36.6% | +13.8% |
| 1968 | 39.0% | +6.4% |
| 1969 | 34.4% | -11.8% |
| 1970 | 32.3% | -6.2% |
| 1971 | 31.0% | -3.8% |
| 1972 | 29.2% | -5.7% |
| 1973 | 28.3% | -3.2% |
| 1974 | 30.8% | +8.9% |
| 1975 | 28.5% | -7.6% |
| 1976 | 25.9% | -9.1% |
| 1977 | 25.2% | -2.8% |
| 1978 | 24.2% | -3.8% |
| 1979 | 25.9% | +6.8% |
| 1980 | 26.6% | +2.6% |
| 1981 | 29.1% | +9.6% |
| 1982 | 36.1% | +24.2% |
| 1983 | 38.0% | +5.2% |
| 1984 | 39.4% | +3.6% |
| 1985 | 37.9% | -3.8% |
| 1986 | 33.0% | -12.9% |
| 1987 | 35.5% | +7.4% |
| 1988 | 39.6% | +11.5% |
| 1989 | 45.8% | +15.9% |
| 1990 | 41.9% | -8.7% |
| 1991 | 43.1% | +2.9% |
| 1992 | 46.2% | +7.2% |
| 1993 | 46.1% | -0.0% |
| 1994 | 44.0% | -4.6% |
| 1995 | 45.4% | +3.3% |
| 1996 | 48.0% | +5.7% |
| 1997 | 65.0% | +35.4% |
| 1998 | 62.4% | -4.1% |
| 1999 | 71.0% | +13.8% |
| 2000 | 93.5% | +31.8% |
| 2001 | 95.1% | +1.7% |
| 2002 | 100.6% | +5.7% |
| 2003 | 125.1% | +24.5% |
| 2004 | 157.8% | +26.1% |
| 2005 | 239.6% | +51.8% |
| 2006 | 304.6% | +27.1% |
| 2007 | 246.6% | -19.0% |
| 2008 | 192.8% | -21.8% |
| 2009 | 172.6% | -10.5% |
| 2010 | 159.6% | -7.5% |
| 2011 | 136.4% | -14.5% |
| 2012 | 117.8% | -13.6% |
| 2013 | 107.2% | -9.0% |
| 2014 | 94.2% | -12.1% |
| 2015 | 87.2% | -7.4% |
| 2016 | 84.2% | -3.5% |
| 2017 | 86.8% | +3.1% |
| 2018 | 90.9% | +4.7% |
| 2019 | 88.2% | -3.0% |
| 2020 | 99.8% | +13.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 38.1% | 31.3% | 46.9% | 10 |
| 1970s | 28.1% | 24.2% | 32.3% | 10 |
| 1980s | 36.1% | 26.6% | 45.8% | 10 |
| 1990s | 51.3% | 41.9% | 71.0% | 10 |
| 2000s | 172.8% | 93.5% | 304.6% | 10 |
| 2010s | 105.3% | 84.2% | 159.6% | 10 |
| 2020s | 99.8% | 99.8% | 99.8% | 1 |
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 in Iceland?
- Domestic credit to private sector in Iceland was 99.8% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest domestic credit to private sector recorded in Iceland?
- The highest recorded value was 304.6% in 2006.
- What is the lowest domestic credit to private sector recorded in Iceland?
- The lowest recorded value was 24.2% in 1978.
- How does Iceland rank for domestic credit to private sector?
- Iceland ranks 33rd out of 187 countries with data for 2020.
- Is domestic credit to private sector rising or falling in Iceland?
- Over the last ten years it is down 37.4%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Domestic credit to private sector (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Domestic credit to private sector refers to financial resources provided to the private sector, 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.