France credit to non-financial sector
France credit to the non-financial sector and credit-to-GDP gap, from the BIS.
| Indicator | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | Q4-2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| As a share of GDP1 | ||||||||||||||
| Non-financial sector (private and government)3 | 323.5 | 325.2 | 324.4 | 322.4 | 321.4 | 322.3 | 319.5 | 320.2 | 322.9 | 320.8 | 325.4 | 329.9 | 329.8 | |
| Private non-financial sector3 | 215.4 | 215.1 | 215.2 | 215 | 214.2 | 213.8 | 214.6 | 214.5 | 216.8 | 218.3 | 220.6 | 223.4 | 224.9 | |
| Households and NPISHs | 59.7 | 59.9 | 60 | 60.2 | 60.5 | 60.6 | 61 | 61.5 | 62.4 | 63.4 | 64.2 | 65.1 | 65.9 | |
| Non-financial corporations | 155.8 | 155.2 | 155.2 | 154.9 | 153.7 | 153.2 | 153.5 | 153 | 154.4 | 154.9 | 156.3 | 158.2 | 159 | |
| Private non-financial sector, of which from domestic banks | 99.6 | 99.9 | 100 | 100.3 | 100.7 | 101 | 102.9 | 103.4 | 105.3 | 106.5 | 108 | 110.4 | 112.1 | |
| General government, market value | 108.1 | 110.1 | 109.3 | 107.4 | 107.3 | 108.5 | 104.9 | 105.7 | 106 | 102.6 | 104.9 | 106.6 | 104.9 | |
| General government, nominal value | 116 | 117.5 | 115.7 | 114 | 113.2 | 113.6 | 112.1 | 110.4 | 109.6 | 111 | 111.3 | 112.1 | 111.4 | |
| Outstanding amount1 | ||||||||||||||
| Non-financial sector (private and government)3 | 9,654.88 | 9,643.43 | 9,578.58 | 9,465.6 | 9,389.95 | 9,369.45 | 9,209.94 | 9,170.75 | 9,138.03 | 8,951.58 | 8,937.83 | 8,892.38 | 8,749.47 | |
| Private non-financial sector3 | 6,428.98 | 6,379.51 | 6,352.55 | 6,313.21 | 6,256.46 | 6,214.83 | 6,185.92 | 6,142.79 | 6,136.56 | 6,090.01 | 6,057.5 | 6,019.8 | 5,965.64 | |
| Households and NPISHs | 1,780.37 | 1,776.24 | 1,770.61 | 1,766.14 | 1,767.69 | 1,762.06 | 1,759.7 | 1,760.71 | 1,767.16 | 1,767.51 | 1,764.31 | 1,755.48 | 1,747.85 | |
| Non-financial corporations | 4,648.61 | 4,603.27 | 4,581.94 | 4,547.07 | 4,488.78 | 4,452.78 | 4,426.22 | 4,382.08 | 4,369.4 | 4,322.5 | 4,293.19 | 4,264.32 | 4,217.79 | |
| Private non-financial sector, of which from domestic banks | 2,973.21 | 2,963.28 | 2,952.23 | 2,945.89 | 2,942.5 | 2,934.8 | 2,966 | 2,961.84 | 2,980.17 | 2,971.16 | 2,965.92 | 2,975.57 | 2,972.47 | |
| General government, market value | 3,225.9 | 3,263.92 | 3,226.03 | 3,152.39 | 3,133.49 | 3,154.61 | 3,024.02 | 3,027.96 | 3,001.47 | 2,861.57 | 2,880.33 | 2,872.58 | 2,783.83 | |
| General government, nominal value | 3,460.47 | 3,484.06 | 3,417.15 | 3,346.28 | 3,306.1 | 3,303.03 | 3,232.36 | 3,163 | 3,103.25 | 3,095.77 | 3,055.92 | 3,021.06 | 2,955.64 | |
| Credit gap and debt service ratio2 | ||||||||||||||
| Credit-to-GDP gap, private non-financial sector3 | ||||||||||||||
| Credit-to-GDP ratio | 215.43 | 215.1 | 215.16 | 215.05 | 214.17 | 213.8 | 214.58 | 214.49 | 216.82 | 218.28 | 220.55 | 223.36 | 224.88 | |
| Long-run trend of the credit-to-GDP ratio | 230.54 | 230.51 | 230.47 | 230.4 | 230.31 | 230.24 | 230.16 | 230 | 229.81 | 229.46 | 228.98 | 228.33 | 227.47 | |
| Credit-to-GDP gap | -15.11 | -15.41 | -15.32 | -15.36 | -16.14 | -16.44 | -15.58 | -15.51 | -12.99 | -11.18 | -8.43 | -4.97 | -2.59 | |
| Debt service ratio3 | ||||||||||||||
| Private non-financial sector | 20.8 | 20.5 | 20.4 | 20.2 | 19.9 | 19.7 | 19.7 | 19.6 | 19.7 | 19.8 | 19.9 | 20.3 | 20.4 | |
| Households and NPISHs | 6 | 5.9 | 5.9 | 5.9 | 5.9 | 5.9 | 6 | 6 | 6.1 | 6.2 | 6.2 | 6.4 | 6.5 | |
| Non-financial corporations | 60.3 | 59.2 | 58.5 | 57.8 | 56.6 | 55.9 | 55.5 | 55 | 54.9 | 55.6 | 56 | 58.1 | 58.2 |
Latest reading
Private non-financial sector stood at 215.4 % of GDP in Q4 2025. That is +0.3 pp from Q3 2025 and +1.2 pp from a year earlier. The series on this page is quarterly and runs from Q4 1969 to Q4 2025. Source: BIS – Bank for International Settlements (data.bis.org).
- Latest
- 215.4 % of GDP
- Q4 2025
- vs previous period
- +0.3 pp
- Q3 2025
- vs a year earlier
- +1.2 pp
About this data
France credit to the non-financial sector and credit-to-GDP gap, from the BIS. This quarterly dataset includes outstanding credit in EUR billion and as a percentage of GDP. It breaks down lending to households, non-financial corporations, and the general government. Historical series are available since 1969, tracking the long-run trend and debt service ratios.
Frequently asked questions
- What does the France credit to non-financial sector dataset measure?
- This dataset measures total outstanding credit extended to the French non-financial sector, including households, non-financial corporations, and the general government, compiled by the Bank for International Settlements (BIS).
- What is the credit-to-GDP gap in France?
- The credit-to-GDP gap in France is the difference between the actual credit-to-GDP ratio and its long-run trend, expressed in percentage points.
- How far back does the BIS credit data for France go?
- Quarterly credit and debt service statistics for the French non-financial sector are available from the BIS starting in 1969.
- What sectors are included in the France credit breakdown?
- The data breaks down credit by borrowing sector, covering the private non-financial sector, households, non-financial corporations, and the general government.
