Estonia: Domestic credit to private sector by banks (% of GDP)

Key figures

What the numbers say

In 2024, Estonia's domestic credit to private sector by banks (% of GDP) rose 2.87 percentage points on 2023 (from 57.66% to 60.53%).

Across the 19 yearly changes before that (2005 to 2023), the average change was +0.92 percentage points and a typical year strayed about 8.46 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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 19.66 percentage points in 2006 and the biggest yearly fall was 15.07 percentage points in 2011. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is downward, about 0.98 percentage points a year. A straight line explains 61% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Estonia had the 14th highest value of the 38 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.

Closest to Estonia in the 2024 ranking

• United Arab Emirates — 11th of 38: 67.97%
• Belgium — 12th of 38: 66.79%
• Oman — 13th of 38: 63.16%
• Slovak Republic — 15th of 38: 59.64%
• Cyprus — 16th of 38: 56.6%
• Greece — 17th of 38: 48.37%

What this measures

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. 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.

Limitations: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 21 values

Domestic credit to private sector by banks (% of GDP) in nearby economies

• Albania — 34.03% (2025)
• Armenia — 68.68% (2025)
• Austria — 81.5% (2024)
• Azerbaijan — 22.84% (2025)
• Belarus — 24.11% (2021)
• Belgium — 66.79% (2024)
• Bosnia and Herzegovina — 46.14% (2025)
• Bulgaria — 47.03% (2024)
• Croatia — 46.84% (2024)
• Cyprus

More financial sector data for Estonia

• DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
• GDP deflator (base year varies by country) — 142.95 (2025)
• GDP deflator, linked series (base year varies by country) — 142.95 (2025)
• Inflation, GDP deflator (annual % growth) — 3.84% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 3.84% (2025)
• Consumer price index (2010 = 100) — 179.99 (2025)
• Inflation, consumer prices (annual % growth) — 4.83% (2025)
• Official exchange rate (LCU per US$, period average) — US$0.88 (2025)
• S&P Global Equity Indices (annual % change) — 26.69% (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Estonia's domestic credit to private sector by banks (% of GDP)?

60.53% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2004?

It is up 20.27 percentage points from 40.26% in 2004. The highest value was 101.35% in 2009 and the lowest 40.26% in 2004.

How does Estonia rank?

14th highest of 38 economies with data for 2024.

Is the latest change in domestic credit to private sector by banks (% of GDP) unusual for Estonia?

In 2024, Estonia's domestic credit to private sector by banks (% of GDP) rose 2.87 percentage points on 2023 (from 57.66% to 60.53%). Across the 19 yearly changes before that (2005 to 2023), the average change was +0.92 percentage points and a typical year strayed about 8.46 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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 FD.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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