Somalia, Fed. Rep.: Monetary sector credit to private sector (% of GDP)

Key figures

Over five years it is up 3.02 percentage points from 2.41% in 2019. Since 1960 it is up 3.01 percentage points from 2.42% in 1960. The World Bank has no value for 28 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2024, Somalia, Fed. Rep.'s monetary sector credit to private sector (% of GDP) rose 0.36 percentage points on 2023 (from 5.07% to 5.43%).

Across the 30 yearly changes before that (1965 to 2023), the average change was +0.29 percentage points and a typical year strayed about 4.03 percentage points from that (the standard deviation). This year's change was 0.0 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 10.42 percentage points in 1973 and the biggest yearly fall was 14.6 percentage points in 1975. The numbers show how large and when, not why; for the cause, look at what happened in that country in those 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, Somalia, Fed. Rep. had the 46th highest value of the 46 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 Somalia, Fed. Rep. in the 2024 ranking

• Iraq — 43rd of 46: 13.99%
• Gambia, The — 44th of 46: 9.4%
• Malawi — 45th of 46: 7.91%

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 37 values

Monetary sector credit to private sector (% of GDP) in nearby economies

• Angola — 5.77% (2025)
• Benin — 19.78% (2025)
• Botswana — 33.23% (2025)
• Burkina Faso — 22.72% (2025)
• Burundi — 38.54% (2025)
• Cabo Verde — 54.04% (2025)
• Cameroon — 14.09% (2019)
• Central African Republic — 13.04% (2022)
• Chad — 8.32% (2021)
• Comoros

More financial sector data for Somalia, Fed. Rep.

• GDP deflator (base year varies by country) — 127.92 (2025)
• DEC alternative conversion factor (LCU per US$) — US$30,104 (2025)
• Inflation, GDP deflator (annual % growth) — 12.88% (2025)
• Official exchange rate (LCU per US$, period average) — US$23,098 (2017)
• Domestic credit to private sector by banks (% of GDP) — 5.43% (2024)
• Net domestic credit (current LCU) — 16.43 trillion (2024)
• Net foreign assets (current LCU) — 33.98 trillion (2024)
• Claims on central government, etc. (% of GDP) — -0.85% (2024)
• Domestic credit to private sector (% of GDP)

Reading data like this

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Questions people ask

What is Somalia, Fed. Rep.'s monetary sector credit to private sector (% of GDP)?

5.43% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1960?

It is up 3.01 percentage points from 2.42% in 1960. The highest value was 25.41% in 1974 and the lowest 2.35% in 2018.

How does Somalia, Fed. Rep. rank?

46th highest of 46 economies with data for 2024.

Is the latest change in monetary sector credit to private sector (% of GDP) unusual for Somalia, Fed. Rep.?

In 2024, Somalia, Fed. Rep.'s monetary sector credit to private sector (% of GDP) rose 0.36 percentage points on 2023 (from 5.07% to 5.43%). Across the 30 yearly changes before that (1965 to 2023), the average change was +0.29 percentage points and a typical year strayed about 4.03 percentage points from that (the standard deviation). This year's change was 0.0 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 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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