Credit-to-GDP gap by country

Every economy Bullrun holds a reading for: 44 in all, ranked highest first. Saudi Arabia is the highest at +6.7pp and Ireland the lowest at -64.6pp; the median is -14.1pp. Each row carries its own period and source, because these providers publish on different calendars - two rows in this table can be more than a year apart.

• Economies covered44
• Highest+6.7pp Saudi Arabia
• Lowest-64.6pp Ireland
• Median-14.1pp

Credit-to-GDP gap by country, ranked

How the scale reads

These are the same bands that shade the map on the Global Markets dashboard, so a country's colour there and its band here always agree.

What this measures

Total credit to the private non-financial sector as a share of GDP, minus its own long-run trend, in percentage points, for 44 economies. The Basel early-warning guide reads it as: below 2 pp calm, 2 to 10 pp watch including both endpoints, above 10 pp elevated. A negative gap means borrowing is below its trend, not that there is no debt - and a deep negative gap is a credit contraction, which is a concern of its own rather than the good end. This is a guide to credit-cycle pressure, not a crisis prediction.

Source: BIS credit-to-GDP gap statistics, quarterly. Coverage differs from metric to metric because these providers cover different sets of economies, and a gap is left as a gap rather than filled from a proxy - an absent economy is one we hold no reading for, never a zero. See the data license.

Other metrics by country

Global markets dashboard · Every economy scored · Screen stocks by country