Tonga | Domestic credit to private sector (% of GDP)

Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, 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. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies. Development relevance: Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure. Limitations and exceptions: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises. Statistical concept and methodology: Credit is an important link in money transmission; it finances production, consumption, and capital formation, which in turn affect economic activity. The data on domestic credit provided to the private sector are taken from the financial corporations survey (line 52D) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository survey (line 32D). The banking sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial corporations where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.
Publisher
The World Bank
Origin
Kingdom of Tonga
Records
63
Source
Tonga | Domestic credit to private sector (% of GDP)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975 2.69008815
1976 8.49512588
1977 10.42001631
1978 10.44675432
1979 13.73404306
1980 15.61798473
1981 18.39632221
1982 22.20188584
1983 20.70930594
1984 21.48447638
1985 25.44361497
1986 24.72432146
1987 29.43062665
1988 36.23588979
1989 39.0809579
1990 37.68653674
1991 32.09110214
1992 30.12315724
1993 31.68518808
1994 30.31877048
1995 35.50658304
1996 35.59282573
1997 40.40727178
1998 42.26962051
1999 37.85605318
2000 40.5102913
2001 41.88081711
2002 44.03040953
2003 44.61535759
2004 40.57754786
2005 52.8335931
2006 48.23008556
2007 55.07533112
2008 52.27329763
2009 48.01208855
2010 39.92720723
2011 32.9748582
2012 30.61997181
2013 30.68214766
2014 31.57626235
2015 34.08393198
2016 37.41418886
2017 37.99066258
2018 39.67204527
2019 37.76093187
2020 39.52131237
2021 40.28373417
2022 40.00865853

Tonga | Domestic credit to private sector (% of GDP)

Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, 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. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies. Development relevance: Private sector development and investment - tapping private sector initiative and investment for socially useful purposes - are critical for poverty reduction. In parallel with public sector efforts, private investment, especially in competitive markets, has tremendous potential to contribute to growth. Private markets are the engine of productivity growth, creating productive jobs and higher incomes. And with government playing a complementary role of regulation, funding, and service provision, private initiative and investment can help provide the basic services and conditions that empower poor people - by improving health, education, and infrastructure. Limitations and exceptions: Credit to the private sector may sometimes include credit to state-owned or partially state-owned enterprises. Statistical concept and methodology: Credit is an important link in money transmission; it finances production, consumption, and capital formation, which in turn affect economic activity. The data on domestic credit provided to the private sector are taken from the financial corporations survey (line 52D) of the International Monetary Fund's (IMF) International Financial Statistics or, when unavailable, from its depository survey (line 32D). The banking sector includes monetary authorities (the central bank) and deposit money banks, as well as other financial corporations where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.
Publisher
The World Bank
Origin
Kingdom of Tonga
Records
63
Source