In 2023, Singapore led in global borrowers from commercial banks per million adults, highlighting its robust financial sector. Kenya, Uzbekistan, Moldova, and Myanmar showed significant year-on-year growth, indicating an increase in borrowing needs. In contrast, Swaziland, Zimbabwe, and Ecuador experienced notable declines, suggesting potential economic challenges. Over the past five years, countries like Kenya and Myanmar have seen consistent growth, while others have faced declines.
Looking ahead, watch for the influence of digital banking innovations and economic policies on borrowing trends, especially in emerging markets with increasing borrowing rates, such as Kenya and Uzbekistan, as well as how developed markets like Singapore maintain their position. Additionally, the impact of global economic conditions on borrowing behaviors in countries with declining trends should be monitored.
Top countries in Borrowers from Commercial Banks by Country
| # | 10 Countries | Units (Persons) Per Thousand Adults | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Singapore | 1,100 | 2023 | +0.43% | +0.14% | View data |
| 2 | 2 Brazil | 786.14 | 2023 | +5.14% | +7.44% | View data |
| 3 | 3 Croatia | 703.64 | 2023 | +7.82% | +4.18% | View data |
| 4 | 4 Belgium | 679.43 | 2023 | +0.27% | -0.48% | View data |
| 5 | 5 China | 629.69 | 2023 | +5.29% | +6.13% | View data |
| 6 | 6 Uruguay | 597.31 | 2023 | +0.28% | +1.86% | View data |
| 7 | 7 Serbia | 588.26 | 2023 | +2.68% | +1.6% | View data |
| 8 | 8 Italy | 571.58 | 2023 | +1.41% | +1.55% | View data |
| 9 | 9 Portugal | 534.87 | 2023 | +1.96% | +0.53% | View data |
| 10 | 10 United Arab Emirates | 526.58 | 2023 | +0.25% | -0.52% | View data |
