Saudi Arabia: Bank credit to the private sector

* indicates monthly or quarterly data series
 Saudi Arabia

Bank credit to the private sector as percent of GDP

 Latest value 51.98
 Year 2017
 Measure percent
 Data availability 1968 - 2017
 Average 22.29
 Min - Max 2.75 - 56.28
 Source The World Bank
For that indicator, we provide data for Saudi Arabia from 1968 to 2017. The average value for Saudi Arabia during that period was 22.29 percent with a minimum of 2.75 percent in 1974 and a maximum of 56.28 percent in 2016. The latest value from 2017 is 51.98 percent. For comparison, the world average in 2017 based on 171 countries is 52.93 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
Saudi Arabia - Bank credit to the private sector - Recent values chart

Historical chart
Saudi Arabia - Bank credit to the private sector - historical chart - 1968-2017

Bank credit in Saudi Arabia 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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 Domestic credit to the private sector 53.97 2017 percent
 Bank credit to the private sector 51.98 2017 percent
 Liquid liabilities, percent of GDP 70.10 2017 percent
 Bank assets to GDP 66.04 2017 percent
 Financial system deposits, percent of GDP 38.75 2017 percent
 Bank credit to government 12.07 2017 percent
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 Foreign bank assets 0.00 2013 percent of total bank assets
 Percent people with bank accounts 74.32 2021 percent
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