Private credit by deposit money banks to GDP in Iceland
Iceland: Private credit by deposit money banks to GDP was 102.6% in 2021. ◆ Volatile
Private credit by deposit money banks to GDP in Iceland, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
In 2021, private credit by deposit money banks to gdp in Iceland stood at 102.6%.
Compared with earlier readings it is up 2.3% on the previous year and down 24.8% over ten years.
Over the whole period, private credit by deposit money banks to gdp in Iceland peaked at 304.6% in 2006 and was at its lowest, 24.2%, in 1978.
Iceland ranks 23rd of 187 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Private credit by deposit money banks to GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 46.7% | — |
| 1961 | 44.7% | -4.3% |
| 1962 | 41.9% | -6.3% |
| 1963 | 40.3% | -3.8% |
| 1964 | 31.2% | -22.7% |
| 1965 | 32.7% | +5.0% |
| 1966 | 31.9% | -2.5% |
| 1967 | 36.3% | +13.6% |
| 1968 | 38.4% | +6.0% |
| 1969 | 33.9% | -11.9% |
| 1970 | 30.8% | -9.1% |
| 1971 | 29.9% | -3.1% |
| 1972 | 29.0% | -2.7% |
| 1973 | 28.2% | -3.0% |
| 1974 | 30.7% | +9.1% |
| 1975 | 28.4% | -7.5% |
| 1976 | 25.8% | -9.2% |
| 1977 | 25.1% | -2.8% |
| 1978 | 24.2% | -3.7% |
| 1979 | 25.8% | +6.9% |
| 1980 | 26.5% | +2.5% |
| 1981 | 29.0% | +9.5% |
| 1982 | 36.0% | +24.2% |
| 1983 | 37.9% | +5.2% |
| 1984 | 39.4% | +3.9% |
| 1985 | 37.9% | -3.7% |
| 1986 | 33.0% | -13.0% |
| 1987 | 35.3% | +7.1% |
| 1988 | 39.4% | +11.6% |
| 1989 | 45.6% | +15.6% |
| 1990 | 41.7% | -8.5% |
| 1991 | 43.0% | +3.1% |
| 1992 | 46.1% | +7.2% |
| 1993 | 46.1% | +0.0% |
| 1994 | 43.9% | -4.7% |
| 1995 | 45.3% | +3.3% |
| 1996 | 47.9% | +5.7% |
| 1997 | 65.0% | +35.6% |
| 1998 | 62.4% | -4.1% |
| 1999 | 71.0% | +13.8% |
| 2000 | 93.5% | +31.8% |
| 2001 | 96.3% | +3.0% |
| 2002 | 100.6% | +4.4% |
| 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 | 88.3% | -2.9% |
| 2020 | 100.3% | +13.6% |
| 2021 | 102.6% | +2.3% |
Iceland compared with similar countries
- Iceland's 102.6% is above the median for high income countries, which is 79.1%, 1.3× the median. (62 countries reporting)
- Iceland's 102.6% is above the median for Europe & Central Asia, which is 56.3%, 1.8× the median. (49 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 37.8% | 31.2% | 46.7% | 10 |
| 1970s | 27.8% | 24.2% | 30.8% | 10 |
| 1980s | 36.0% | 26.5% | 45.6% | 10 |
| 1990s | 51.2% | 41.7% | 71.0% | 10 |
| 2000s | 172.9% | 93.5% | 304.6% | 10 |
| 2010s | 105.3% | 84.2% | 159.6% | 10 |
| 2020s | 101.4% | 100.3% | 102.6% | 2 |
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 private credit by deposit money banks to gdp in Iceland?
- Private credit by deposit money banks to gdp in Iceland was 102.6% in 2021, according to International Financial Statistics (IFS), International Monetary Fund (IMF).
- What is the highest private credit by deposit money banks to gdp recorded in Iceland?
- The highest recorded value was 304.6% in 2006.
- What is the lowest private credit by deposit money banks to gdp recorded in Iceland?
- The lowest recorded value was 24.2% in 1978.
- How does Iceland rank for private credit by deposit money banks to gdp?
- Iceland ranks 23rd out of 187 countries with data for 2021.
- Is private credit by deposit money banks to gdp rising or falling in Iceland?
- Over the last ten years it is down 24.8%. The long-run trend across the full record is volatile.
- Where does this Iceland data come from?
- The figures come from International Financial Statistics (IFS), International Monetary Fund (IMF), published as part of Private credit by deposit money banks to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Private credit by deposit money banks and other financial institutions to GDP, calculated using the following deflation method: {(0.5)*[Ft/P_et + Ft-1/P_et-1]}/[GDPt/P_at] where F is credit to the private sector, P_e is end-of period CPI, and P_a is average annual CPI. Raw data are from the electronic version of the IMF’s International Financial Statistics. Private credit by deposit money banks (IFS line 22d); GDP in local currency (IFS line 99B..ZF or, if not available, line 99B.CZF); end-of period CPI (IFS line 64M..ZF or, if not available, 64Q..ZF); and average annual CPI is calculated using the monthly CPI values (IFS line 64M..ZF).