Somalia, Fed. Rep.—Domestic Credit to Private Sector (% of GDP)
Somalia, Fed. Rep.'s domestic credit to private sector (% of GDP) was 5.4% in 2024, ranking #164 out of 168 countries. This represents a +7.1% change from 2023. Over the past 7 years, the highest recorded value was 5.4% (2024) and the lowest was 2.3% (2018). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2024 | 5.4% | +7.1% |
| 2023 | 5.1% | +29.7% |
| 2022 | 3.9% | +15.0% |
| 2021 | 3.4% | +30.1% |
| 2020 | 2.6% | +8.6% |
| 2019 | 2.4% | +2.5% |
| 2018 | 2.3% |
Top Countries — Domestic Credit to Private Sector (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Hong Kong SAR, China | 222.6% | 2025 |
| 2 | United States | 201.3% | 2025 |
| 3 | China | 194.3% | 2024 |
| 4 | Japan | 187.4% | 2025 |
| 5 | Korea, Rep. | 160.3% | 2024 |
| 6 | Denmark | 144.1% | 2024 |
| 7 | New Zealand | 143.4% | 2025 |
| 8 | Thailand | 143.1% | 2025 |
| 9 | Australia | 133.8% | 2025 |
| 10 | Singapore | 129.2% | 2020 |
About This Indicator
Definition
Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, 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. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies. 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.
Methodology
Data compiled by International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD).
Unit
% of GDP