Jamaica Domestic Credit
Domestic credit provided by financial sector as % of GDP FS.AST.DOMS.GD.ZS
Jamaica's domestic credit was 152.29% in 2021, ranked 47th globally. This represents a 4.8% decrease from 2020. Data from World Bank, covering 2017–2021.
Overview
Jamaica's domestic credit stood at 152.29% in 2021, a decline of +7.76% from 2020. Jamaica ranked 47th globally.
Jamaica’s domestic credit to the private sector reached 152.29 percent of GDP in 2021, placing it 47th in the world and indicating a modest expansion from the 131.99 percent level recorded in 2017, the lowest point in the five‑year series. The indicator peaked at 160.05 percent in 2020, reflecting a brief surge in bank lending amid pandemic‑related fiscal stimulus, before easing slightly as the economy adjusted. Compared with peer nations, Jamaica’s credit ratio remains below New Zealand’s 178.86 percent but exceeds Norway’s 135.93 percent, suggesting a relatively aggressive credit environment within the Caribbean context. The upward trajectory since the trough signals improving access to financing for businesses, yet the modest pull‑back from the 2020 high hints at a cautious lending stance as banks assess post‑crisis risk. Continued macro‑economic stability and reforms to strengthen financial sector resilience will be key to sustaining the current upward trend in domestic credit.
Data & projection
| Year | Domestic Credit | YoY change | Rank |
|---|---|---|---|
| 2021 | 152.29% | −7.76% | #47 |
| 2020 | 160.05% | +20.22% | #46 |
| 2019 | 139.83% | +2.29% | #46 |
| 2018 | 137.54% | +5.55% | #45 |
| 2017 | 131.99% | – | #47 |
Detected Pattern
Analysis
Jamaica matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw domestic credit improve within 24 months. View full analysis →
Frequently Asked Questions
Jamaica's domestic credit was 152.29% in 2021. Ranked 47th globally. This represents a 4.8% decrease from the previous year.
Jamaica's domestic credit peaked at 160.05% in 2020.
The lowest domestic credit in Jamaica was 131.99% in 2017.
Jamaica ranks 47th globally in domestic credit as of 2021.
The World Bank indicator code is FS.AST.DOMS.GD.ZS. Data sourced from World Bank.
The domestic credit of Jamaica in 2021 was 152.29%. This ranks 47th in the world.
Cite this page
@misc{historysaid_jamaica_domestic-credit,
title = {Jamaica Domestic Credit},
url = {https://historysaid.com/jamaica/domestic-credit/},
publisher = {HistorySaid},
year = {2026}
}