* indicates monthly or quarterly data series

Financial development, 2021:

The average for 2021 based on 178 countries was 0.331 index points. The highest value was in Switzerland: 0.939 index points and the lowest value was in the Central African Republic: 0.042 index points. The indicator is available from 1980 to 2021. Below is a chart for all countries where data are available.

Measure: index points; Source: International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Financial development, 2021 Global rank Available data
Switzerland 0.939 1 1980 - 2021
USA 0.917 2 1980 - 2021
Australia 0.909 3 1980 - 2021
Japan 0.888 4 1980 - 2021
Canada 0.874 5 1980 - 2021
UK 0.836 6 1980 - 2021
South Korea 0.818 7 1980 - 2021
France 0.815 8 1980 - 2021
Spain 0.803 9 1980 - 2021
Sweden 0.775 10 1980 - 2021
Italy 0.767 11 1980 - 2021
Hong Kong 0.76 12 1980 - 2021
Thailand 0.731 13 1980 - 2021
Malaysia 0.727 14 1980 - 2021
Netherlands 0.709 15 1980 - 2021
Luxembourg 0.708 16 1980 - 2021
Singapore 0.704 17 1980 - 2021
Germany 0.702 18 1980 - 2021
Denmark 0.665 19 1980 - 2021
Brazil 0.662 20 1980 - 2021
Austria 0.658 21 1980 - 2021
Portugal 0.654 22 1980 - 2021
Finland 0.646 23 1980 - 2021
Norway 0.636 24 1980 - 2021
China 0.634 25 1982 - 2021
Belgium 0.632 26 1980 - 2021
Ireland 0.625 27 1980 - 2021
New Zealand 0.617 28 1980 - 2021
Israel 0.605 29 1980 - 2021
South Africa 0.546 30 1980 - 2021
India 0.534 31 1980 - 2021
Qatar 0.53 32 1980 - 2021
Russia 0.53 33 1984 - 2021
Iran 0.522 34 1980 - 2021
Malta 0.518 35 1980 - 2021
Cyprus 0.508 36 1980 - 2021
Chile 0.504 37 1980 - 2021
Turkey 0.5 38 1985 - 2021
Iceland 0.496 39 1980 - 2021
Bahamas 0.495 40 1980 - 2021
Mauritius 0.493 41 1980 - 2021
UA Emirates 0.486 42 1980 - 2021
Macao 0.485 43 1984 - 2021
Greece 0.474 44 1982 - 2021
Croatia 0.468 45 1992 - 2021
Panama 0.465 46 1980 - 2021
Bahrain 0.464 47 1980 - 2021
Hungary 0.464 48 1982 - 2021
Saudi Arabia 0.442 49 1980 - 2021
Poland 0.431 50 1980 - 2021
Mexico 0.402 51 1980 - 2021
Namibia 0.402 52 1990 - 2021
Kuwait 0.4 53 1980 - 2021
Barbados 0.399 54 1980 - 2021
Bolivia 0.392 55 1980 - 2021
Colombia 0.388 56 1980 - 2021
Oman 0.384 57 1980 - 2021
Tr.&Tobago 0.383 58 1980 - 2021
Vietnam 0.382 59 1992 - 2021
Bulgaria 0.379 60 1988 - 2021
Philippines 0.379 61 1980 - 2021
Peru 0.374 62 1980 - 2021
Indonesia 0.364 63 1980 - 2021
Jordan 0.359 64 1980 - 2021
Jamaica 0.356 65 1980 - 2021
Kazakhstan 0.354 66 1993 - 2021
Seychelles 0.354 67 1980 - 2021
Morocco 0.351 68 1980 - 2021
Botswana 0.345 69 1980 - 2021
Saint Lucia 0.335 70 1980 - 2021
Georgia 0.333 71 1994 - 2021
Brunei 0.325 72 1986 - 2021
Slovenia 0.324 73 1980 - 2021
Czechia 0.317 74 1990 - 2021
Egypt 0.309 75 1980 - 2021
Grenada 0.309 76 1980 - 2021
Mongolia 0.308 77 1991 - 2021
Argentina 0.306 78 1980 - 2021
Uruguay 0.304 79 1980 - 2021
Lebanon 0.302 80 1980 - 2021
Cape Verde 0.292 81 1980 - 2021
Aruba 0.29 82 1986 - 2021
Costa Rica 0.288 83 1980 - 2021
Uzbekistan 0.286 84 1993 - 2021
Ant.& Barb. 0.28 85 1980 - 2021
Slovakia 0.28 86 1991 - 2021
Romania 0.275 87 1980 - 2021
Bosnia & Herz. 0.266 88 1995 - 2021
Armenia 0.262 89 1993 - 2021
Sri Lanka 0.261 90 1980 - 2021
North Macedonia 0.26 91 1992 - 2021
Serbia 0.256 92 1994 - 2021
Azerbaijan 0.253 93 1992 - 2021
Estonia 0.252 94 1992 - 2021
Bangladesh 0.243 95 1980 - 2021
Venezuela 0.239 96 1980 - 2021
Tonga 0.235 97 1980 - 2021
Tunisia 0.235 98 1980 - 2021
Moldova 0.229 99 1992 - 2021
Samoa 0.228 100 1980 - 2021
Bhutan 0.227 101 1982 - 2021
Nigeria 0.221 102 1980 - 2021
Pakistan 0.22 103 1980 - 2021
Fiji 0.218 104 1980 - 2021
Belize 0.217 105 1980 - 2021
Guatemala 0.216 106 1980 - 2021
El Salvador 0.214 107 1980 - 2021
Nepal 0.213 108 1980 - 2021
Latvia 0.212 109 1993 - 2021
Maldives 0.211 110 1980 - 2021
Cambodia 0.21 111 1993 - 2021
Honduras 0.21 112 1980 - 2021
Ukraine 0.207 113 1992 - 2021
Albania 0.203 114 1992 - 2021
St. Vincent & ... 0.203 115 1980 - 2021
Zambia 0.199 116 1980 - 2021
Dominica 0.198 117 1980 - 2021
Lithuania 0.197 118 1993 - 2021
Vanuatu 0.197 119 1980 - 2021
Paraguay 0.193 120 1980 - 2021
Domin. Rep. 0.184 121 1980 - 2021
Papua N.G. 0.184 122 1980 - 2021
Swaziland 0.184 123 1980 - 2021
Suriname 0.183 124 1980 - 2021
Ghana 0.178 125 1980 - 2021
Togo 0.178 126 1980 - 2021
Ecuador 0.17 127 1980 - 2021
Laos 0.17 128 1989 - 2021
Burundi 0.169 129 1980 - 2021
Belarus 0.165 130 1993 - 2021
Kenya 0.165 131 1980 - 2021
Rwanda 0.159 132 1980 - 2021
Mozambique 0.155 133 1990 - 2021
Guyana 0.147 134 1980 - 2021
Lesotho 0.147 135 1980 - 2021
Algeria 0.141 136 1980 - 2021
Angola 0.139 137 1993 - 2021
Djibouti 0.139 138 1987 - 2021
Nicaragua 0.137 139 1980 - 2021
Kyrgyzstan 0.136 140 1995 - 2021
Mauritania 0.133 141 1980 - 2021
Ivory Coast 0.128 142 1982 - 2021
Libya 0.128 143 1980 - 2021
Burma 0.126 144 1980 - 2021
Burkina Faso 0.125 145 1980 - 2021
Mali 0.123 146 1980 - 2021
Gabon 0.122 147 1980 - 2021
S.T.&Principe 0.122 148 1993 - 2021
Syria 0.122 149 1980 - 2021
Senegal 0.119 150 1980 - 2021
Ethiopia 0.116 151 1980 - 2021
Liberia 0.114 152 1981 - 2021
Yemen 0.113 153 1988 - 2021
Niger 0.112 154 1980 - 2021
Benin 0.11 155 1980 - 2021
Sudan 0.108 156 1980 - 2021
Gambia 0.107 157 1980 - 2021
Guinea 0.107 158 1989 - 2021
Madagascar 0.106 159 1980 - 2021
Tajikistan 0.106 160 1998 - 2021
Turkmenistan 0.105 161 1998 - 2021
Uganda 0.104 162 1980 - 2021
Tanzania 0.103 163 1980 - 2021
Cameroon 0.101 164 1980 - 2021
Solomon Isl. 0.1 165 1980 - 2021
Kiribati 0.099 166 1997 - 2021
Haiti 0.098 167 1980 - 2021
G.-Bissau 0.095 168 1990 - 2021
Malawi 0.095 169 1980 - 2021
R. of Congo 0.093 170 1980 - 2021
Eritrea 0.089 171 1995 - 2021
Eq. Guinea 0.084 172 1985 - 2021
Chad 0.07 173 1980 - 2021
Sierra Leone 0.07 174 1980 - 2021
DR Congo 0.066 175 1993 - 2021
Comoros 0.057 176 1982 - 2021
Micronesia 0.057 177 1995 - 2021
C.A. Republic 0.042 178 1980 - 2021



Definition: An index for overall financial development based on the two subindexes for financial institutions development and financial markets development. See the indicator menu and Svirydzenka, Katsiaryna (IMF, 2016) for more detail.

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0.939
0.917
0.909
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