Domestic credit to private sector in Singapore
Singapore: Domestic credit to private sector was 130.6% in 2020. ▲ Rising
Domestic credit to private sector in Singapore, 1963–2020
Source: World Development Indicators (WDI), World Bank. Measured in % of GDP.
Analysis
Singapore recorded 130.6% for domestic credit to private sector in 2020. That is the highest value across all 58 years on record.
Compared with earlier readings it is up 9.2% on the previous year and up 37.7% over ten years.
Over the whole period, domestic credit to private sector in Singapore peaked at 130.6% in 2020 and was at its lowest, 33.7%, in 1963.
Singapore ranks 17th of 187 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 58 years of available data.
Domestic credit to private sector 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% | +5.0% |
| 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% | +9.3% |
| 1982 | 80.1% | +6.3% |
| 1983 | 85.6% | +6.8% |
| 1984 | 85.3% | -0.3% |
| 1985 | 87.6% | +2.7% |
| 1986 | 84.3% | -3.7% |
| 1987 | 80.6% | -4.5% |
| 1988 | 76.4% | -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% | +8.7% |
| 1996 | 93.7% | +6.2% |
| 1997 | 96.5% | +2.9% |
| 1998 | 107.9% | +11.9% |
| 1999 | 102.7% | -4.8% |
| 2000 | 96.1% | -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 | 123.8% | +1.1% |
| 2017 | 121.0% | -2.3% |
| 2018 | 117.7% | -2.7% |
| 2019 | 119.7% | +1.6% |
| 2020 | 130.6% | +9.2% |
Singapore compared with similar countries
- Singapore's 130.6% is above the median for high income countries, which is 82.3%, 1.6× the median. (61 countries reporting)
- Singapore's 130.6% is above the median for East Asia & Pacific, which is 105.2%, 1.2× 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 | 116.9% | 94.9% | 128.1% | 10 |
| 2020s | 130.6% | 130.6% | 130.6% | 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 in Singapore?
- Domestic credit to private sector in Singapore was 130.6% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest domestic credit to private sector recorded in Singapore?
- The highest recorded value was 130.6% in 2020.
- What is the lowest domestic credit to private sector recorded in Singapore?
- The lowest recorded value was 33.7% in 1963.
- How does Singapore rank for domestic credit to private sector?
- Singapore ranks 17th out of 187 countries with data for 2020.
- Is domestic credit to private sector rising or falling in Singapore?
- Over the last ten years it is up 37.7%. The long-run trend across the full record is rising.
- Where does this Singapore 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.
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 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.