Tonga Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Tonga's credit to gdp was 34.09% in 2025, ranked 90th globally. This represents a 2.0% decrease from 2024. Data from World Bank, covering 1975–2025.
Overview
Tonga's credit to gdp stood at 34.09% in 2025, a decline of +0.71% from 2024. Based on recent trends, this figure is projected to reach 34.09% by 2025. Tonga ranked 90th globally.
Tonga’s credit to GDP ratio has expanded significantly from a historical low of 2.69 in 1975 to reach 34.09 in 2025, ranking the country 90th globally. This growth reflects a broadening financial sector over five decades of recorded data, with credit access deepening notably during periods of economic reform and infrastructure investment. The all-time peak of 55.08 was recorded in 2007, a period marked by heightened private sector borrowing and external financing, followed by a prolonged contraction and volatility due to global financial shocks and domestic fiscal constraints. By 2025, Tonga’s ratio closely aligns with peer nations such as Mongolia and Uzbekistan, both at 34.20, suggesting a convergence in financial development levels among small, emerging economies. Despite recent stabilization, the ratio remains well below its 2007 high, indicating lingering constraints on credit expansion, possibly due to high household debt burdens, limited collateral frameworks, or cautious lending practices. A sustained upward trajectory will likely depend on structural improvements in financial inclusion, macroeconomic stability, and increased investor confidence in the domestic economy.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 32.73% | - | - |
| 2026* trend | 33.41% | - | - |
| 2025* trend | 34.09% | - | - |
| 2025 | 34.09% | −0.71% | #90 |
| 2024 | 34.80% | −0.85% | #48 |
| 2023 | 35.65% | −0.31% | #63 |
| 2022 | 35.97% | −0.43% | #69 |
| 2021 | 36.40% | −1.42% | #70 |
| 2020 | 37.82% | −0.39% | #72 |
| 2019 | 38.21% | −1.09% | #78 |
| 2018 | 39.30% | +1.28% | #78 |
| 2017 | 38.02% | +0.63% | #74 |
| 2016 | 37.39% | +3.35% | #76 |
| 2015 | 34.04% | +2.55% | #68 |
| 2014 | 31.50% | +0.89% | #66 |
| 2013 | 30.60% | +0.01% | #66 |
| 2012 | 30.59% | −2.41% | #70 |
| 2011 | 33.01% | −6.92% | #78 |
Detected Pattern
Analysis
Tonga matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Tonga's credit to gdp was 34.09% in 2025. Ranked 90th globally. This represents a 2.0% decrease from the previous year.
Tonga's credit to gdp peaked at 55.08% in 2007.
The lowest credit to gdp in Tonga was 2.69% in 1975.
Tonga ranks 90th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Tonga's credit to gdp is projected to reach 34.09% by 2025 based on trend extrapolation.
The credit to gdp of Tonga in 2025 was 34.09%. This ranks 90th in the world.
Cite this page
@misc{historysaid_tonga_credit-to-gdp,
title = {Tonga Credit to GDP},
url = {https://historysaid.com/tonga/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}