Money supply (broad money) by country: the latest data
* indicates monthly or quarterly data series
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* indicates monthly or quarterly data series
The money supply measure reported below is M2, also known as "broad money". It includes the currency in circulation as well as demand and time deposits. The supply of money is somewhat of an interest in macroeconomic analysis as it relates to the policies of the central bank but we advise caution in drawing false conclusions.
For example, the supply of money also depends on the money multiplier, i.e. on how actively banks initiate credit. The more active they are and the greater the demand for loans, the greater the expansion of money supply for a given central bank policy with respect to bank reserves. Also, while over long periods of time, rapid growth in money supply leads to inflation, the short term effect on prices is not very strong.
The table shows the level of money supply, in billion local currency units, using the latest available data from the national authorities. It also shows the percent change in M2 from three months ago and one year ago.
Definition: The money supply is the total amount of currency and other liquid instruments circulating in the economy. The indicator represents the broad money that include currency outside banks; demand, time, saving, and foreign currency deposits of resident sectors other than the central government; bank and traveler's checks; and other securities such as certificates of deposit and commercial paper.
For example, the supply of money also depends on the money multiplier, i.e. on how actively banks initiate credit. The more active they are and the greater the demand for loans, the greater the expansion of money supply for a given central bank policy with respect to bank reserves. Also, while over long periods of time, rapid growth in money supply leads to inflation, the short term effect on prices is not very strong.
The table shows the level of money supply, in billion local currency units, using the latest available data from the national authorities. It also shows the percent change in M2 from three months ago and one year ago.
Definition: The money supply is the total amount of currency and other liquid instruments circulating in the economy. The indicator represents the broad money that include currency outside banks; demand, time, saving, and foreign currency deposits of resident sectors other than the central government; bank and traveler's checks; and other securities such as certificates of deposit and commercial paper.
| Countries | Latest available value | Reference date | Change three months | Change twelve months |
|---|---|---|---|---|
| Afghanistan | 546.48 | Q3 / 2020 | 1.03% | 12.24% |
| Albania | 936.84 | Jun / 2023 | 0.51% | 2.42% |
| Algeria | 22174.20 | Sep / 2022 | 3.29% | 14.45% |
| Angola | 13643.92 | Jun / 2023 | 22.20% | 24.95% |
| Antigua and Barbuda | 3.72 | Dec / 2019 | 0.83% | 0.81% |
| Argentina | 32286.45 | Jun / 2023 | 25.12% | 98.38% |
| Armenia | 3011.80 | Jun / 2023 | 6.81% | 21.04% |
| Aruba | 5.68 | Mar / 2023 | 2.33% | 5.01% |
| Australia | 2871.79 | Jun / 2023 | 0.49% | 4.08% |
| Austria | 426.32 | Jun / 2023 | -1.10% | 1.09% |
| Azerbaijan | 31.71 | Jul / 2023 | 5.05% | 20.74% |
| Bahamas | 8.05 | Jun / 2023 | 0.56% | 5.84% |
| Bahrain | 14.46 | Jun / 2023 | -0.71% | 4.74% |
| Bangladesh | 18742.50 | Jul / 2023 | 3.42% | 9.74% |
| Barbados | 14.15 | Mar / 2023 | 1.39% | 3.07% |
| Belarus | 22.03 | Jan / 2022 | 5.61% | 15.82% |
| Belgium | 648.60 | Jun / 2023 | 0.02% | -1.10% |
| Belize | 4.36 | Jun / 2023 | 0.18% | 6.77% |
| Benin | 3589.20 | Jun / 2023 | 1.89% | 9.98% |
| Bhutan | 216.69 | Jun / 2023 | 2.97% | 9.83% |
| Bolivia | 133.24 | May / 2023 | 1.82% | 5.72% |
| Bosnia and Herzegovina | 34.05 | Jun / 2023 | 2.41% | 8.07% |
| Botswana | 101.73 | Oct / 2022 | 1.61% | 9.96% |
| Brazil | 5416.54 | Jun / 2023 | 3.81% | 17.04% |
| Brunei | 10.34 | Jun / 2023 | 1.45% | 1.46% |
| Bulgaria | 145.76 | Jun / 2023 | 0.65% | 11.43% |
| Burkina Faso | 5744.90 | Jun / 2023 | 6.81% | 1.93% |
| Burma (Myanmar) | 80007.96 | Q3 / 2022 | 1.59% | -0.66% |
| Burundi | 4402.26 | May / 2023 | 1.50% | 31.62% |
| Cambodia | 180569.40 | Apr / 2023 | 4.60% | 9.20% |
| Cameroon | 7985.74 | Feb / 2023 | 3.44% | 11.61% |
| Canada | 2410.43 | Jun / 2023 | -0.78% | 2.25% |
| Cape Verde | 224.85 | Jun / 2023 | 0.93% | 5.93% |
| Central African Republic | 489.08 | Feb / 2023 | -1.10% | 1.71% |
| Chad | 1984.13 | Feb / 2023 | 9.60% | 14.21% |
| Chile | 192948.32 | Jun / 2023 | 1.13% | 7.74% |
| China | 285403.16 | Jul / 2023 | 1.62% | 10.70% |
| Colombia | 722810.58 | Jun / 2023 | 1.01% | 8.45% |
| Comoros | 210.83 | Dec / 2022 | 4.01% | 7.38% |
| Costa Rica | 14021.58 | Jun / 2023 | -0.40% | 10.06% |
| Croatia | 61.87 | Jun / 2023 | 1.03% | 17.95% |
| Cyprus | 47.51 | Jul / 2023 | 0.59% | 2.55% |
| Czechia | 6243.18 | Jun / 2023 | 2.73% | 7.61% |
| Democratic Republic of the Congo | 23720.98 | Aug / 2021 | 9.17% | 39.61% |
| Denmark | 1699.39 | Jun / 2023 | -0.47% | 4.34% |
| Dominica | 1.55 | Dec / 2019 | -1.94% | -6.34% |
| Dominican Republic | 1776.35 | Jun / 2023 | 5.54% | 15.85% |
| Ecuador | 77.66 | Aug / 2023 | 1.47% | 7.13% |
| Egypt | 7965.91 | Mar / 2023 | 7.61% | 26.84% |
| El Salvador | 18.29 | Jun / 2023 | 0.08% | 5.24% |
| Equatorial Guinea | 1178.09 | Feb / 2023 | -1.42% | 5.21% |
| Estonia | 26.40 | Jun / 2023 | 1.05% | 3.79% |
| Ethiopia | 2056.47 | Q1 / 2023 | 5.64% | 30.12% |
| Euro area | 15133.56 | Jun / 2023 | -0.26% | -0.25% |
| Fiji | 9.79 | Jun / 2023 | 5.17% | 8.84% |
| Finland | 189.26 | Jun / 2023 | -1.32% | -4.37% |
| France | 2716.38 | Jun / 2023 | -1.40% | 1.64% |
| Gabon | 3098.94 | Feb / 2023 | 7.45% | 26.29% |
| Gambia | 66.93 | Jun / 2023 | -0.10% | 3.72% |
| Georgia | 21.65 | Jun / 2023 | 9.26% | 31.18% |
| Germany | 3759.53 | Jun / 2023 | 0.08% | 0.88% |
| Ghana | 209.62 | Jun / 2023 | 1.27% | 44.41% |
| Greece | 236.12 | Jun / 2023 | 1.22% | 1.08% |
| Grenada | 2.44 | Dec / 2019 | 1.99% | 2.88% |
| Guatemala | 377.28 | Jun / 2023 | 2.16% | 10.40% |
| Guinea | 40141.65 | Sep / 2021 | 0.82% | 10.27% |
| Guinea-Bissau | 526.20 | Jun / 2023 | 6.41% | -3.22% |
| Guyana | 741.94 | Jun / 2023 | 5.43% | 20.43% |
| Haiti | 245.60 | Aug / 2021 | 2.79% | 20.12% |
| Honduras | 481.15 | Jun / 2023 | 2.37% | 15.39% |
| Hong Kong | 16552.57 | Jun / 2023 | -0.40% | 1.53% |
| Hungary | 38717.19 | Jun / 2023 | -4.19% | -3.99% |
| Iceland | 2667.82 | Jun / 2023 | 2.68% | 8.89% |
| India | 234233.60 | Jun / 2023 | 4.88% | 13.36% |
| Indonesia | 8372606.83 | Jun / 2023 | 0.96% | 6.11% |
| Iraq | 177772.16 | Jun / 2023 | 4.29% | 18.51% |
| Ireland | 336.24 | Jun / 2023 | 1.22% | 2.07% |
| Israel | 1783.18 | Jun / 2023 | -0.32% | 0.99% |
| Italy | 1838.23 | Jun / 2023 | -1.17% | -4.11% |
| Ivory Coast | 17031.80 | Jun / 2023 | 1.57% | 10.44% |
| Jamaica | 1830.50 | Jun / 2023 | 1.83% | 9.72% |
| Japan | 1238990.00 | Jun / 2023 | 2.11% | 2.58% |
| Jordan | 41.99 | Jun / 2023 | 0.67% | 2.64% |
| Kazakhstan | 29274.46 | Jun / 2023 | 4.14% | 21.23% |
| Kenya | 3669.42 | May / 2023 | 1.77% | -7.79% |
| Kuwait | 39.68 | Jun / 2023 | 0.45% | 4.42% |
| Kyrgyzstan | 336.57 | Jun / 2023 | 6.43% | 21.60% |
| Laos | 214979.59 | Jun / 2023 | 8.43% | 27.46% |
| Latvia | 19.86 | Jun / 2023 | -1.20% | 3.86% |
| Lebanon | 121569.10 | May / 2023 | 2.24% | 52.35% |
| Lesotho | 13.64 | Jun / 2021 | -3.28% | 9.38% |
| Liberia | 47.74 | Apr / 2023 | 2.15% | 20.16% |
| Libya | 114.11 | Mar / 2023 | 3.42% | 9.66% |
| Lithuania | 49.69 | Jun / 2023 | -1.34% | 9.33% |
| Luxembourg | 367.80 | Jun / 2023 | -4.29% | -9.27% |
| Macao | 717.22 | Jun / 2023 | -1.24% | 5.46% |
| North Macedonia | 281.25 | Jun / 2023 | 5.73% | 13.40% |
| Madagascar | 15644.50 | Mar / 2023 | -2.48% | 8.07% |
| Malawi | 3225.70 | Jun / 2023 | 18.54% | 35.97% |
| Malaysia | 2306.32 | Jun / 2023 | 0.62% | 3.64% |
| Maldives | 57.42 | Jun / 2023 | -2.11% | -0.55% |
| Mali | 4783.10 | Jun / 2023 | 2.53% | 4.38% |
| Malta | 26.79 | Jun / 2023 | 1.43% | 4.09% |
| Mauritania | 1164.20 | Sep / 2022 | 0.77% | 7.22% |
| Mauritius | 825.80 | Jun / 2023 | 0.47% | 5.39% |
| Mexico | 12736.68 | Jun / 2023 | 2.49% | 9.41% |
| Moldova | 101.54 | Aug / 2023 | 0.44% | 25.09% |
| Mongolia | 31438.50 | Jun / 2023 | 1.63% | 13.85% |
| Montserrat | 0.26 | Dec / 2019 | 2.18% | 0.41% |
| Morocco | 1430.31 | Jun / 2023 | 2.62% | 10.20% |
| Mozambique | 581.89 | Jul / 2021 | 5.96% | 13.58% |
| Namibia | 136.09 | Jun / 2023 | 3.66% | 5.99% |
| Nepal | 5885.30 | May / 2023 | 2.11% | 10.00% |
| Netherlands | 1053.02 | Jun / 2023 | 0.47% | 1.15% |
| New Caledonia | 581.24 | Q4 / 2021 | 3.18% | 6.56% |
| New Zealand | 399.13 | Jun / 2023 | 0.86% | 2.59% |
| Nicaragua | 65.62 | Mar / 2023 | 3.87% | 17.09% |
| Niger | 1897.70 | Jun / 2023 | 3.52% | 9.64% |
| Nigeria | 64358.22 | Jun / 2023 | 18.77% | 31.62% |
| Norway | 3055.41 | Jun / 2023 | -3.28% | -1.95% |
| Oman | 21.35 | Jun / 2023 | 1.41% | 2.81% |
| Pakistan | 31590.66 | Jun / 2023 | 9.64% | 14.45% |
| Paraguay | 69619.93 | Jun / 2023 | 3.00% | 9.77% |
| Peru | 307.98 | Jun / 2023 | -0.48% | 3.74% |
| Philippines | 15900.12 | Jun / 2023 | 1.06% | 6.84% |
| Poland | 2139.84 | Jun / 2023 | 0.84% | 7.57% |
| Portugal | 233.70 | Dec / 2020 | 3.68% | 11.66% |
| Qatar | 699.18 | May / 2023 | -0.38% | 6.50% |
| Republic of the Congo | 2402.20 | Feb / 2023 | 4.56% | 21.43% |
| Romania | 624.52 | Jun / 2023 | 1.73% | 9.70% |
| Russia | 87276.50 | Jun / 2023 | 2.90% | 25.36% |
| Rwanda | 3875.21 | Jun / 2023 | 9.45% | 21.46% |
| Saint Lucia | 3.34 | Dec / 2019 | 2.27% | 3.21% |
| Saint Vincent and the Grenadines | 1.72 | Dec / 2019 | 1.50% | 9.91% |
| Samoa | 1.47 | Mar / 2023 | 2.89% | 12.35% |
| Sao Tome and Principe | 2492.67 | May / 2023 | -6.32% | -8.68% |
| Saudi Arabia | 2317.29 | Jun / 2023 | 2.52% | 8.26% |
| Senegal | 9392.50 | Jun / 2023 | 3.52% | 11.90% |
| Serbia | 1957.29 | Jun / 2023 | 2.46% | 21.79% |
| Seychelles | 15.18 | Jun / 2023 | 4.78% | 6.09% |
| Sierra Leone | 20299.21 | Dec / 2022 | 19.16% | 41.05% |
| Singapore | 783.86 | Jun / 2023 | 1.81% | 3.21% |
| Slovakia | 82.13 | Jun / 2023 | -0.69% | 0.79% |
| Slovenia | 38.02 | Jun / 2023 | 1.41% | 6.96% |
| Solomon Islands | 4.91 | May / 2023 | -1.04% | 4.25% |
| South Africa | 4005.04 | Jun / 2023 | 0.25% | 10.58% |
| South Korea | 3816390.50 | Jun / 2023 | 1.04% | 2.79% |
| Spain | 1486.30 | Jun / 2023 | 0.95% | -1.44% |
| Sri Lanka | 12726.25 | Jul / 2023 | 2.74% | 6.45% |
| Sudan | 5058.73 | Feb / 2023 | 7.75% | 43.87% |
| Suriname | 80.51 | Jun / 2023 | 5.66% | 57.75% |
| Swaziland | 20.42 | Jun / 2023 | 1.56% | -2.24% |
| Sweden | 4811.87 | Jun / 2023 | 0.67% | -3.78% |
| Switzerland | 1135.38 | Jun / 2023 | -1.73% | -1.24% |
| Taiwan | 59272.00 | Jun / 2023 | 1.05% | 6.87% |
| Tajikistan | 31.83 | Aug / 2023 | -0.83% | -2.71% |
| Tanzania | 32552.70 | Jun / 2023 | 6.75% | 17.85% |
| Thailand | 24975.48 | Jun / 2023 | -1.01% | 1.75% |
| Togo | 2666.20 | Jun / 2023 | 0.46% | 7.66% |
| Tonga | 0.68 | Jun / 2022 | 1.30% | 14.13% |
| Trinidad and Tobago | 99.66 | May / 2023 | -0.17% | 2.12% |
| Tunisia | 103.78 | Apr / 2023 | 1.26% | 6.58% |
| Turkey | 10834.49 | Jun / 2023 | 19.60% | 62.37% |
| USA | 20801.80 | Jun / 2023 | -1.14% | -3.60% |
| Uganda | 28542.63 | Jun / 2023 | 7.60% | 8.40% |
| Ukraine | 2727.99 | Jun / 2023 | 6.66% | 27.11% |
| United Arab Emirates | 1855.40 | Jun / 2023 | 3.75% | 14.38% |
| United Kingdom | 3055.51 | Jun / 2023 | -0.01% | -0.65% |
| Uruguay | 492.80 | Jun / 2023 | -4.73% | 9.72% |
| Uzbekistan | 205583.02 | Aug / 2023 | 11.54% | 18.30% |
| Vanuatu | 114.49 | May / 2023 | 3.19% | 10.36% |
| Venezuela | 46618.22 | Jul / 2023 | 43.69% | 420.78% |
| Zambia | 136.22 | May / 2023 | 6.86% | 25.68% |
| Zimbabwe | 14271.23 | Jun / 2023 | 348.89% | 1182.76% |