North Macedonia: Bank credit to the private sector

* indicates monthly or quarterly data series
 North Macedonia

Bank credit to the private sector as percent of GDP

 Latest value 53.14
 Year 2023
 Measure percent
 Data availability 1993 - 2023
 Average 37.45
 Min - Max 16.30 - 56.41
 Source The World Bank
The latest value from 2023 is 53.14 percent, an increase from 52.8 percent in 2022. In comparison, the world average is 51.31 percent, based on data from 140 countries. Historically, the average for North Macedonia from 1993 to 2023 is 37.45 percent. The minimum value, 16.3 percent, was reached in 2001 while the maximum of 56.41 percent was recorded in 1993. 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 data
North Macedonia - Bank credit to the private sector - Recent values chart

Historical series
North Macedonia - Bank credit to the private sector - historical chart - 1993-2023




Bank credit in North Macedonia 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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 Related indicators Latest Reference Measure
 ATMs per 100,000 adults 56.69 2021 ATMs per 100,000 adults
 Bank accounts per 1000 adults 1,076.59 2021 bank accounts
 Bank branches per 100,000 people 22.42 2021 bank branches
 Firms using credit to finance investment 35.40 2019 percent
 Small firms with bank credit 37.10 2019 percent
 Percent people with credit cards 22.20 2021 percent
 Percent people with debit cards 52.63 2021 percent
 Domestic credit to the private sector 56.88 2020 percent
 Bank credit to the private sector 53.14 2023 percent
 Liquid liabilities, percent of GDP 64.86 2021 percent
 Bank assets to GDP 64.73 2021 percent
 Financial system deposits, percent of GDP 58.40 2021 percent
 Bank credit to government 11.12 2020 percent
 Banking system concentration 97.39 2021 percent
 Foreign bank assets 68.00 2013 percent of total bank assets
 Percent people with bank accounts 85.29 2021 percent
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