New Zealand Domestic Credit
Domestic credit provided by financial sector as % of GDP FS.AST.DOMS.GD.ZS
New Zealand's domestic credit was 155.56% in 2025, ranked 4th globally. This represents a 1.6% decrease from 2024. Data from World Bank, covering 2014–2025.
Overview
New Zealand's domestic credit stood at 155.56% in 2025, a decline of +2.59% from 2023. Based on recent trends, this figure is projected to reach 155.56% by 2025. New Zealand ranked 4th globally.
New Zealand’s domestic credit to the private sector fell to 155.56 % of GDP in 2025, placing the country fourth globally among the 11‑year series tracked by the World Bank. This level represents the all‑time trough for the period, contrasting sharply with the 184.60 % of GDP recorded at the 2020 peak, when credit expansion was driven by accommodative monetary policy and a buoyant housing market. The downward trajectory has been more pronounced than in peer economies such as Fiji, whose 2025 credit ratio stood at 153.06 % of GDP, but remains below Thailand’s 197.01 % and the United States’ 242.68 % of GDP. The decline reflects tighter lending standards, higher interest rates, and a slowdown in property investment, which together have curbed credit growth after the pandemic‑era surge. Continued restraint in monetary policy and persistent housing affordability pressures are likely to keep the credit ratio on a modestly declining path unless a significant policy shift or external shock alters borrowing behaviour.
Data & projection
| Year | Domestic Credit | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 151.70% | - | - |
| 2025* trend | 155.56% | - | - |
| 2025 | 155.56% | −2.59% | #4 |
| 2023 | 158.15% | −7.30% | #45 |
| 2022 | 165.45% | −13.41% | #48 |
| 2021 | 178.86% | −5.74% | #48 |
| 2020 | 184.60% | +16.74% | #49 |
| 2019 | 167.86% | +4.37% | #50 |
| 2018 | 163.49% | +0.47% | #48 |
| 2017 | 163.01% | −1.74% | #50 |
| 2016 | 164.75% | +4.75% | #48 |
| 2015 | 160.00% | +1.85% | #45 |
| 2014 | 158.16% | – | #43 |
Analysis
New Zealand's domestic credit was 155.56% in 2025, a decline of −2.59% from 2024. Based on trends, estimated 155.56% by 2025.
Frequently Asked Questions
New Zealand's domestic credit was 155.56% in 2025. Ranked 4th globally. This represents a 1.6% decrease from the previous year.
New Zealand's domestic credit peaked at 184.60% in 2020.
The lowest domestic credit in New Zealand was 155.56% in 2025.
New Zealand ranks 4th globally in domestic credit as of 2025.
The World Bank indicator code is FS.AST.DOMS.GD.ZS. Data sourced from World Bank.
New Zealand's domestic credit is projected to reach 155.56% by 2025 based on trend extrapolation.
The domestic credit of New Zealand in 2025 was 155.56%. This ranks 4th in the world.
Cite this page
@misc{historysaid_new-zealand_domestic-credit,
title = {New Zealand Domestic Credit},
url = {https://historysaid.com/new-zealand/domestic-credit/},
publisher = {HistorySaid},
year = {2026}
}