Sub-Saharan Africa (excluding high income): Monetary sector credit to private sector (% of GDP)

Key figures

What the numbers say

In 2023, Sub-Saharan Africa (excluding high income)'s monetary sector credit to private sector (% of GDP) rose 2.09 percentage points on 2022 (from 22.72% to 24.81%).

Across the 30 yearly changes before that (1993 to 2022), the average change was −0.19 percentage points and a typical year strayed about 2.37 percentage points from that (the standard deviation). This year's change was 1.0 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 6.72 percentage points in 1999 and the biggest yearly fall was 7.14 percentage points in 2002. 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 the straight-line trend is downward, about 0.43 percentage points a year. A straight line explains 52% 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

See how every economy compares in the full ranking.

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 59 values

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

• Afghanistan — 3.1% (2020)
• Algeria — 19.59% (2025)
• Bahrain — 70.55% (2015)
• Djibouti — 25.16% (2025)
• Egypt, Arab Rep. — 25.84% (2025)
• Iran, Islamic Rep. — 57.83% (2016)
• Iraq — 13.99% (2024)
• Israel — 72.47% (2025)
• Jordan — 71.31% (2025)
• Kuwait

More financial sector data for Sub-Saharan Africa (excluding high income)

• Inflation, GDP deflator (annual % growth) — 4.3% (2025)
• Broad money (% of GDP) — 42.55% (2025)
• Domestic credit to private sector by banks (% of GDP) — 24.71% (2023)
• Claims on central government, etc. (% of GDP) — 12.88% (2023)
• Domestic credit to private sector (% of GDP) — 31.68% (2023)
• Stocks traded, turnover ratio of domestic shares (%) — 23.74% (2024)
• Inflation, consumer prices (annual % growth) — 3.46% (2025)
• Bank liquid reserves to bank assets ratio (%)

Reading data like this

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Questions people ask

What is Sub-Saharan Africa (excluding high income)'s monetary sector credit to private sector (% of GDP)?

24.81% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1963?

It is up 18.61 percentage points from 6.2% in 1963. The highest value was 30.66% in 2009 and the lowest 6.2% in 1963.

Is the latest change in monetary sector credit to private sector (% of GDP) unusual for Sub-Saharan Africa (excluding high income)?

In 2023, Sub-Saharan Africa (excluding high income)'s monetary sector credit to private sector (% of GDP) rose 2.09 percentage points on 2022 (from 22.72% to 24.81%). Across the 30 yearly changes before that (1993 to 2022), the average change was −0.19 percentage points and a typical year strayed about 2.37 percentage points from that (the standard deviation). This year's change was 1.0 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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