Loans from nonresident banks (amounts outstanding) to GDP (%) by country
Ratio of outstanding offshore bank loans to GDP. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. Offshore bank loan data from BIS Statistical Appendix Table 7A: External loans and...
Countries reporting
136
Highest
2,132.6%
Marshall Islands
Lowest
0.1%
Algeria
Median
18.7%
Years covered
60
1962–2021
Data points
4,260
What the numbers show
Loans from nonresident banks (amounts outstanding) to GDP (%) is currently reported for 136 countries. The highest value is 2,132.6% in Marshall Islands; the lowest is 0.1% in Algeria.
The median across all reporting countries is 18.7%, and the mean is 54.5%.
The gap between the highest and lowest reporting country is a factor of about 35,824.
Over the past decade 94 countries rose and 36 fell. The largest increase was in Azerbaijan (up 38,709.7%), and the largest decrease in Tanzania, United Republic of (down 94.4%).
Loans from nonresident banks (amounts outstanding) to GDP: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Marshall Islands | 2,132.6% | 2021 | up 567.6% | volatile |
| 2 | Bermuda | 1,081.1% | 2021 | up 609.3% | volatile |
| 3 | Luxembourg | 352.3% | 2021 | up 142.4% | volatile |
| 4 | Curaçao | 211.4% | 2020 | up 91.7% | volatile |
| 5 | Lebanon | 176.0% | 2021 | up 141.9% | volatile |
| 6 | Netherlands | 133.8% | 2021 | down 10.4% | volatile |
| 7 | Bahrain | 129.9% | 2021 | up 327.2% | volatile |
| 8 | Bahamas | 99.1% | 2021 | up 357.5% | volatile |
| 9 | Cyprus | 97.8% | 2021 | up 46.1% | volatile |
| 10 | United Kingdom of Great Britain and Northern Ireland | 91.1% | 2021 | down 13.9% | volatile |
| 11 | Panama | 87.9% | 2021 | up 164.4% | volatile |
| 12 | Finland | 84.1% | 2021 | up 68.4% | volatile |
| 13 | Ireland | 70.3% | 2021 | down 58.3% | volatile |
| 14 | Jamaica | 68.5% | 2021 | up 17.9% | volatile |
| 15 | Qatar | 67.0% | 2021 | up 197.6% | volatile |
| 16 | Hong Kong, China | 65.8% | 2021 | up 89.0% | volatile |
| 17 | Austria | 65.7% | 2021 | down 13.9% | volatile |
| 18 | Sweden | 65.0% | 2021 | down 0.6% | volatile |
| 19 | United Arab Emirates | 63.5% | 2020 | up 113.7% | volatile |
| 20 | Spain | 62.0% | 2021 | down 18.2% | volatile |
| 21 | Switzerland | 59.1% | 2021 | up 13.8% | volatile |
| 22 | France | 58.4% | 2021 | down 4.5% | volatile |
| 23 | Canada | 56.2% | 2021 | up 56.1% | volatile |
| 24 | Iceland | 55.5% | 2021 | down 75.8% | volatile |
| 25 | Norway | 54.7% | 2021 | up 16.9% | volatile |
| 26 | Greece | 54.6% | 2021 | down 43.2% | volatile |
| 27 | Mongolia | 54.5% | 2021 | up 1,823.3% | volatile |
| 28 | Oman | 50.9% | 2021 | up 3,030.7% | volatile |
| 29 | Belgium | 48.9% | 2021 | down 27.5% | volatile |
| 30 | Italy | 47.7% | 2021 | down 5.8% | volatile |
| 31 | Germany | 45.2% | 2021 | down 16.6% | volatile |
| 32 | Latvia | 41.1% | 2021 | up 636.1% | volatile |
| 33 | Denmark | 40.6% | 2021 | down 9.8% | volatile |
| 34 | Australia | 40.3% | 2021 | up 0.6% | volatile |
| 35 | Uruguay | 40.1% | 2021 | up 92.9% | volatile |
| 36 | Liechtenstein | 39.3% | 2019 | down 30.7% | rising |
| 37 | Singapore | 36.6% | 2021 | up 59.7% | volatile |
| 38 | Chile | 35.1% | 2021 | up 337.6% | volatile |
| 39 | Montenegro | 34.1% | 2021 | up 215.1% | volatile |
| 40 | Portugal | 33.8% | 2021 | down 59.9% | volatile |
| 41 | Peru | 30.7% | 2021 | up 155.2% | volatile |
| 42 | Dominican Republic | 29.1% | 2021 | up 441.7% | volatile |
| 43 | Ghana | 28.8% | 2021 | up 1,412.4% | volatile |
| 44 | El Salvador | 27.4% | 2021 | up 37.8% | volatile |
| 45 | Lithuania | 27.0% | 2021 | up 3.7% | volatile |
| 46 | Mauritius | 26.7% | 2021 | up 865.8% | volatile |
| 47 | Gabon | 25.2% | 2021 | up 359.4% | volatile |
| 48 | Colombia | 23.9% | 2021 | up 176.1% | volatile |
| 49 | Mexico | 23.8% | 2021 | up 135.9% | volatile |
| 50 | Suriname | 23.6% | 2021 | up 42.3% | volatile |
| 51 | Malaysia | 22.6% | 2021 | up 63.2% | volatile |
| 52 | Croatia | 21.5% | 2021 | up 58.2% | rising |
| 53 | United States of America | 21.4% | 2021 | up 11.3% | volatile |
| 54 | Malta | 20.7% | 2021 | up 699.6% | volatile |
| 55 | Israel | 20.6% | 2021 | up 113.3% | volatile |
| 56 | Belize | 20.3% | 2021 | up 168.7% | falling |
| 57 | South Africa | 20.3% | 2021 | up 88.0% | volatile |
| 58 | Zambia | 20.0% | 2021 | up 581.6% | rising |
| 59 | Côte d'Ivoire | 19.9% | 2021 | up 185.0% | volatile |
| 60 | Kuwait | 19.9% | 2020 | up 503.3% | volatile |
| 61 | Kazakhstan | 19.8% | 2021 | up 5.9% | volatile |
| 62 | Romania | 19.8% | 2021 | up 530.3% | volatile |
| 63 | Argentina | 19.6% | 2021 | up 103.8% | volatile |
| 64 | Congo | 19.3% | 2002 | down 31.7% | falling |
| 65 | North Macedonia | 19.2% | 2021 | up 335.7% | volatile |
| 66 | Ecuador | 19.2% | 2021 | up 555.2% | volatile |
| 67 | Philippines | 19.1% | 2021 | up 7.6% | volatile |
| 68 | Togo | 19.0% | 2021 | up 248.0% | volatile |
| 69 | Paraguay | 18.5% | 2021 | up 1,438.1% | volatile |
| 70 | Trinidad and Tobago | 18.5% | 2021 | up 76.5% | volatile |
| 71 | Saudi Arabia | 18.3% | 2021 | up 898.5% | volatile |
| 72 | Sri Lanka | 18.1% | 2021 | up 253.4% | volatile |
| 73 | Turks and Caicos Islands | 18.0% | 2015 | — | falling |
| 74 | Serbia | 17.4% | 2021 | up 348.4% | volatile |
| 75 | Türkiye | 17.4% | 2021 | up 138.1% | volatile |
| 76 | Maldives | 17.4% | 2021 | — | rising |
| 77 | Senegal | 17.3% | 2021 | up 340.6% | volatile |
| 78 | Hungary | 16.8% | 2021 | down 33.9% | falling |
| 79 | Albania | 15.7% | 2021 | up 212.5% | volatile |
| 80 | Brazil | 15.7% | 2021 | up 99.9% | volatile |
| 81 | Japan | 15.3% | 2021 | up 165.0% | volatile |
| 82 | Aruba | 15.1% | 2020 | up 114.7% | volatile |
| 83 | Jordan | 14.9% | 2021 | up 392.2% | volatile |
| 84 | Bulgaria | 14.9% | 2021 | up 287.7% | volatile |
| 85 | Armenia | 14.8% | 2021 | up 135.0% | rising |
| 86 | Egypt | 14.5% | 2021 | up 570.0% | volatile |
| 87 | Tunisia | 14.2% | 2021 | up 157.3% | volatile |
| 88 | Slovenia | 14.1% | 2021 | down 4.3% | volatile |
| 89 | Lao People's Democratic Republic | 13.9% | 2021 | up 808.1% | volatile |
| 90 | Indonesia | 13.9% | 2021 | up 204.9% | volatile |
| 91 | Republic of Korea | 13.7% | 2021 | up 12.8% | volatile |
| 92 | Grenada | 12.8% | 2011 | down 30.6% | falling |
| 93 | Seychelles | 12.8% | 2021 | down 19.3% | falling |
| 94 | Barbados | 12.5% | 2021 | down 56.1% | volatile |
| 95 | Costa Rica | 11.7% | 2021 | up 269.6% | volatile |
| 96 | Angola | 11.0% | 2021 | up 1,278.4% | volatile |
| 97 | Venezuela, Bolivarian Republic of | 10.8% | 2014 | down 42.1% | volatile |
| 98 | Russian Federation | 10.8% | 2021 | up 26.4% | volatile |
| 99 | Ukraine | 10.5% | 2021 | down 11.6% | rising |
| 100 | Saint Lucia | 9.7% | 2015 | — | falling |
| 101 | Georgia | 9.6% | 2021 | up 53.1% | rising |
| 102 | Rwanda | 9.2% | 2021 | up 80.0% | rising |
| 103 | Belarus | 9.2% | 2021 | up 182.0% | volatile |
| 104 | Morocco | 9.1% | 2021 | up 376.5% | volatile |
| 105 | Guatemala | 9.0% | 2021 | up 481.0% | volatile |
| 106 | Poland | 8.6% | 2021 | down 32.0% | rising |
| 107 | Estonia | 8.6% | 2021 | up 163.1% | rising |
| 108 | Honduras | 8.4% | 2021 | up 55.8% | rising |
| 109 | Azerbaijan | 8.2% | 2021 | up 38,709.7% | volatile |
| 110 | Czechia | 7.8% | 2021 | down 25.6% | volatile |
| 111 | Nigeria | 7.5% | 2021 | up 1,333.8% | volatile |
| 112 | China | 7.1% | 2021 | up 317.4% | volatile |
| 113 | Kenya | 6.4% | 2021 | up 58.0% | rising |
| 114 | Slovakia | 6.4% | 2021 | down 45.2% | volatile |
| 115 | Macau, China | 6.2% | 2021 | up 132.8% | volatile |
| 116 | Bolivia, Plurinational State of | 6.2% | 2021 | up 888.4% | volatile |
| 117 | Namibia | 6.1% | 2021 | up 53.5% | rising |
| 118 | Thailand | 6.1% | 2021 | up 121.0% | volatile |
| 119 | Tajikistan | 5.7% | 2021 | — | falling |
| 120 | New Zealand | 5.7% | 2021 | down 22.7% | volatile |
| 121 | Republic of Moldova | 5.1% | 2001 | up 186.2% | rising |
| 122 | Mozambique | 4.5% | 2021 | down 9.8% | falling |
| 123 | India | 3.9% | 2021 | up 40.4% | volatile |
| 124 | Fiji | 3.6% | 2019 | down 30.4% | falling |
| 125 | Cameroon | 3.4% | 2021 | up 44.9% | rising |
| 126 | Pakistan | 2.4% | 2021 | up 233.5% | volatile |
| 127 | Iraq | 2.2% | 2021 | up 56.6% | falling |
| 128 | Papua New Guinea | 1.9% | 2021 | — | volatile |
| 129 | Viet Nam | 1.0% | 2021 | down 38.5% | falling |
| 130 | Monaco | 0.9% | 2018 | — | flat |
| 131 | Ethiopia | 0.9% | 2021 | down 50.0% | falling |
| 132 | Iran, Islamic Republic of | 0.2% | 2007 | down 80.7% | volatile |
| 133 | Sudan | 0.1% | 1984 | down 81.7% | falling |
| 134 | Nicaragua | 0.1% | 2001 | down 72.0% | falling |
| 135 | Tanzania, United Republic of | 0.1% | 2021 | down 94.4% | falling |
| 136 | Algeria | 0.1% | 2021 | down 54.7% | volatile |
About this data
Ratio of outstanding offshore bank loans to GDP. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. Offshore bank loan data from BIS Statistical Appendix Table 7A: External loans and deposits of reporting banks vis-à-vis all sectors.