Singapore: Claims on private sector (annual growth as % of broad money)

Key figures

What the numbers say

In 2020, Singapore's claims on private sector (annual growth as % of broad money) fell 0.89 percentage points on 2019 (from 2.37% to 1.48%).

Across the 30 yearly changes before that (1990 to 2019), the average change was −0.55 percentage points and a typical year strayed about 7.39 percentage points from that (the standard deviation). This year's change was 0.0 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 13.95 percentage points in 2003 and the biggest yearly fall was 25.84 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 2011 to 2020 the straight-line trend is downward, about 1.33 percentage points a year. A straight line explains 74% 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.

Closest to Singapore in the 2020 ranking

• Papua New Guinea — 1st of 4: 2.18%
• Myanmar — 2nd of 4: 2.02%
• Afghanistan — 4th of 4: 0.01%

What this measures

Claims on private sector include gross credit from the financial system to individuals, enterprises, nonfinancial public entities not included under net domestic credit, and financial institutions not included elsewhere. Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value. This indicator represents the annual percentage growth in the ratio of claims to broad money.

All 57 values

Claims on private sector (annual growth as % of broad money) in nearby economies

• Australia — 7.27% (2025)
• Brunei Darussalam — 1.08% (2025)
• Cambodia — 5.72% (2025)
• China — 5.76% (2024)
• Fiji — 9.39% (2024)
• Hong Kong SAR, China — 0.57% (2025)
• Indonesia — 5.77% (2025)
• Japan — 1.57% (2025)
• Korea, Rep. — 4.13% (2024)

More financial sector data for Singapore

• Consumer price index (2010 = 100) — 134.36 (2025)
• GDP deflator (base year varies by country) — 132.95 (2025)
• DEC alternative conversion factor (LCU per US$) — US$1.31 (2025)
• Official exchange rate (LCU per US$, period average) — US$1.31 (2025)
• Inflation, consumer prices (annual % growth) — 0.9% (2025)
• Inflation, GDP deflator (annual % growth) — -1.8% (2025)
• Domestic credit to private sector by banks (% of GDP) — 128.43% (2020)
• Net domestic credit (current LCU) — 701.01 billion (2020)
• Net foreign assets (current LCU) — 407.83 billion (2020)

Reading data like this

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Questions people ask

What is Singapore's claims on private sector (annual growth as % of broad money)?

1.48% in 2020, according to the World Bank (World Development Indicators).

How has it changed since 1964?

It is down 4.72 percentage points from 6.2% in 1964. The highest value was 37.3% in 1973 and the lowest -8.85% in 2002.

Is the latest change in claims on private sector (annual growth as % of broad money) unusual for Singapore?

In 2020, Singapore's claims on private sector (annual growth as % of broad money) fell 0.89 percentage points on 2019 (from 2.37% to 1.48%). Across the 30 yearly changes before that (1990 to 2019), the average change was −0.55 percentage points and a typical year strayed about 7.39 percentage points from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

Source

World Bank, World Development Indicators, indicator FM.AST.PRVT.ZG.M3, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) 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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