Barbados: Bank credit to the private sector

* indicates monthly or quarterly data series

Bank credit to the private sector as percent of GDP

 Latest value 73.63
 Year 2022
 Measure percent
 Data availability 1974 - 2022
 Average 53.72
 Min - Max 29.13 - 86.41
 Source The World Bank
For that indicator, we provide data for Barbados from 1974 to 2022. The average value for Barbados during that period was 53.72 percent with a minimum of 29.13 percent in 1980 and a maximum of 86.41 percent in 2020. The latest value from 2022 is 73.63 percent. For comparison, the world average in 2022 based on 148 countries is 54.21 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Barbados - Bank credit to the private sector - Recent values chart

Historical chart
Barbados - Bank credit to the private sector - historical chart - 1974-2022

Bank credit in Barbados and other countries is defined as the credit extended by the banking institutions to the private sector only: both firms and households. It does not include lending to the government.

Credit is essential for the economy to function well. It funds new investments and allows people to purchase houses, cars, and other items. Of course, excessive lending and borrowing usually end up in financial crises but, in principle, credit availability is good for economic development.

If the banking credit to the private sector is about 70 percent of GDP and more, then the country has a relatively well developed financial system. The amount of credit can even exceed 200 percent of GDP in some very advanced economies. In some poor countries, the credit could be less than 15 percent of GDP. In these countries, firms and households essentially do not have access to credit for investment and various purchases.
Definition: Domestic credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), 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.

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Types of financial institutions

 Related indicators Latest value Reference Measure
 ATMs per 100,000 adults 29.99 2021 ATMs per 100,000 adults
 Bank branches per 100,000 people 14.63 2020 bank branches
 Firms using credit to finance investment 45.50 2010 percent
 Small firms with bank credit 58.10 2010 percent
 Domestic credit to the private sector 78.27 2019 percent
 Bank credit to the private sector 73.63 2022 percent
 Liquid liabilities, percent of GDP 114.15 2019 percent
 Bank assets to GDP 102.95 2019 percent
 Financial system deposits, percent of GDP 111.12 2019 percent
 Bank credit to government 21.35 2019 percent
 Banking system concentration 100.00 2021 percent
 Foreign bank assets 100.00 2013 percent of total bank assets
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