Luxembourg's domestic credit to private sector by banks (% of GDP) was 93.21% in 2023, the latest year in the World Bank's World Development Indicators. That is up 6.54 percentage points from 86.66% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 93.21% | 2023 |
| Five years earlier | 105.5% | 2018 |
| Ten years earlier | 86.66% | 2013 |
| Highest | 110.21% | 2020 |
| Lowest | 66% | 2004 |
| Average since 2014 | 99.83% | 2014–2023 |
| First recorded | 78.45% | 2001 |
What the numbers say
In 2023, Luxembourg's domestic credit to private sector by banks (% of GDP) fell 9.34 percentage points on 2022 (from 102.55% to 93.21%).
Across the 21 yearly changes before that (2002 to 2022), the average change was +1.15 percentage points and a typical year strayed about 6.71 percentage points from that (the standard deviation). This year's change was 1.6 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 15.84 percentage points in 2008 and the biggest yearly fall was 14.86 percentage points in 2010. 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 23% 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, Luxembourg had the 1st highest value of the 14 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 | |
|---|---|---|
| Luxembourg | 93.21% | 2023 |
| World | 91.32% | 2024 |
| Europe & Central Asia | 82.58% | 2023 |
| High income | 73.06% | 2024 |
Closest to Luxembourg in the 2023 ranking
- Netherlands — 2nd of 14: 85.47%
- Germany — 3rd of 14: 76.38%
- Malta — 4th of 14: 64.1%
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 23 values
| Year | Domestic credit to private sector by banks (% of GDP) |
|---|---|
| 2023 | 93.21 |
| 2022 | 102.55 |
| 2021 | 103 |
| 2020 | 110.21 |
| 2019 | 109.01 |
| 2018 | 105.5 |
| 2017 | 100.47 |
| 2016 | 96.25 |
| 2015 | 91.78 |
| 2014 | 86.31 |
| 2013 |
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 Luxembourg
- Consumer price index (2010 = 100) — 136.95 (2025)
- Inflation, consumer prices (annual % growth) — 2.26% (2025)
- GDP deflator (base year varies by country) — 129.81 (2025)
- DEC alternative conversion factor (LCU per US$) — US$0.88 (2025)
- Official exchange rate (LCU per US$, period average) — US$0.88 (2025)
- Inflation, GDP deflator (annual % growth) — 3.22% (2025)
- Market capitalization of listed domestic companies (current US$) — US$69.41 billion (2025)
- Market capitalization of listed domestic companies (% of GDP) — 68.61% (2025)
- Listed domestic companies, total
Reading data like this
Questions people ask
- What is Luxembourg's domestic credit to private sector by banks (% of GDP)?
- 93.21% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is up 14.75 percentage points from 78.45% in 2001. The highest value was 110.21% in 2020 and the lowest 66% in 2004.
- How does Luxembourg rank?
- 1st highest of 14 economies with data for 2023.
- Is the latest change in domestic credit to private sector by banks (% of GDP) unusual for Luxembourg?
- In 2023, Luxembourg's domestic credit to private sector by banks (% of GDP) fell 9.34 percentage points on 2022 (from 102.55% to 93.21%). Across the 21 yearly changes before that (2002 to 2022), the average change was +1.15 percentage points and a typical year strayed about 6.71 percentage points from that (the standard deviation). This year's change was 1.6 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
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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