Oman - Domestic credit to private sector (% of GDP)

Domestic credit to private sector (% of GDP) in Oman was 65.14 as of 2019. Its highest value over the past 47 years was 66.67 in 2016, while its lowest value was 4.70 in 1972.

Definition: 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.

Source: International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1972 4.70
1973 11.13
1974 11.58
1975 11.87
1976 13.59
1977 17.65
1978 20.96
1979 17.26
1980 13.71
1981 13.35
1982 14.45
1983 17.11
1984 18.59
1985 19.54
1986 24.11
1987 22.92
1988 23.72
1989 22.86
1990 20.61
1991 21.44
1992 21.51
1993 22.65
1994 24.71
1995 25.58
1996 26.64
1997 35.65
1998 47.62
1999 46.43
2000 37.46
2001 40.13
2002 38.90
2003 36.79
2004 34.23
2005 30.65
2006 30.73
2007 35.55
2008 35.12
2009 46.70
2010 38.21
2011 36.10
2012 36.82
2013 37.81
2014 41.00
2015 58.17
2016 66.67
2017 65.95
2018 61.07
2019 65.14

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.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Assets