Barbados's monetary sector credit to private sector (% of GDP) was 59.73% in 2023, the latest year in the World Bank's World Development Indicators. That is down 9.13 percentage points from 68.86% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 59.73% | 2023 |
| Five years earlier | 68.56% | 2018 |
| Ten years earlier | 68.86% | 2013 |
| Highest | 82.77% | 2009 |
| Lowest | 29.13% | 1980 |
| Average since 2014 | 67.75% | 2014–2023 |
| First recorded | 34.37% | 1966 |
What the numbers say
In 2023, Barbados' monetary sector credit to private sector (% of GDP) fell 1.33 percentage points on 2022 (from 61.06% to 59.73%).
Across the 30 yearly changes before that (1990 to 2022), the average change was +1.21 percentage points and a typical year strayed about 3.98 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 13.62 percentage points in 1969 and the biggest yearly fall was 9.52 percentage points in 1974. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 there is no clear straight-line trend: a straight line explains 22% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Barbados had the 3rd highest value of the 10 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Barbados | 59.73% | 2023 |
| World | 90.64% | 2024 |
| Latin America & Caribbean | 48.58% | 2025 |
| High income | 72.89% | 2024 |
Closest to Barbados in the 2023 ranking
- Germany — 1st of 10: 77.25%
- Aruba — 3rd of 10: 58.05%
- Congo, Rep. — 4th of 10: 13.79%
- Nigeria — 5th of 10: 13.21%
What this measures
Domestic credit to private sector refers to financial resources provided to the private sector, 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. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 56 values
| Year | Monetary sector credit to private sector (% of GDP) |
|---|---|
| 2023 | 59.73 |
| 2022 | 61.06 |
| 2021 | 68.49 |
| 2020 | 75.94 |
| 2019 | 67.32 |
| 2018 | 68.56 |
| 2017 | 70.11 |
| 2016 | 69.94 |
| 2015 | 68.65 |
| 2014 | 67.74 |
| 2013 |
Monetary sector credit to private sector (% of GDP) in nearby economies
- Antigua and Barbuda — 37.42% (2025)
- Argentina — 15.83% (2025)
- Aruba — 58.05% (2023)
- Bahamas, The — 40.51% (2024)
- Belize — 43.11% (2025)
- Bolivia — 51.75% (2025)
- Brazil — 75.1% (2025)
- Chile — 70.1% (2025)
- Colombia — 39.86% (2025)
- Costa Rica
More financial sector data for Barbados
- GDP deflator (base year varies by country) — 104.55 (2025)
- DEC alternative conversion factor (LCU per US$) — US$2 (2025)
- Official exchange rate (LCU per US$, period average) — US$2 (2025)
- Inflation, GDP deflator (annual % growth) — 2.74% (2025)
- Consumer price index (2010 = 100) — 146.54 (2025)
- Domestic credit to private sector by banks (% of GDP) — 59.62% (2023)
- Net domestic credit (current LCU) — 12.13 billion (2023)
- Net foreign assets (current LCU) — 2.26 billion (2023)
- Broad money (current LCU) — 14.09 billion (2023)
- Broad money (% of GDP)
Reading data like this
Questions people ask
- What is Barbados's monetary sector credit to private sector (% of GDP)?
- 59.73% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1966?
- It is up 25.36 percentage points from 34.37% in 1966. The highest value was 82.77% in 2009 and the lowest 29.13% in 1980.
- How does Barbados rank?
- 3rd highest of 10 economies with data for 2023.
- Is the latest change in monetary sector credit to private sector (% of GDP) unusual for Barbados?
- In 2023, Barbados' monetary sector credit to private sector (% of GDP) fell 1.33 percentage points on 2022 (from 61.06% to 59.73%). Across the 30 yearly changes before that (1990 to 2022), the average change was +1.21 percentage points and a typical year strayed about 3.98 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator FM.AST.PRVT.GD.ZS, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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