# Korea private credit-to-GDP gap | PIER20 benchmarks

Is Korean private credit running above its long-run trend?

Korea private credit-to-GDP gap tracks BIS private-sector credit/GDP, trend and published gap. It uses quarterly data.

The latest data is from **Q4 2025**. The Credit / GDP reading is **199.00 % of GDP**. The One-sided trend reading is **207.01 % of GDP**. The BIS credit gap reading is **-8.01 pp**. The Credit / GDP line is down 1.3 pp over the past year. It is above its long-run median of 156.00 % of GDP.

## Summary statistics (full history)

| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Credit / GDP | 105.26 | 199.00 | 105.26 | 208.97 |
| One-sided trend | 107.24 | 207.01 | 107.24 | 207.01 |
| BIS credit gap | -1.98 | -8.01 | -20.99 | 15.63 |

## Last 24 readings

| Date | Credit / GDP | One-sided trend | BIS credit gap |
|---|---|---|---|
| Q1 2020 | 188.53 | 181.46 | 7.06 |
| Q2 2020 | 193.92 | 182.68 | 11.25 |
| Q3 2020 | 198.05 | 184.07 | 13.99 |
| Q4 2020 | 200.63 | 185.54 | 15.09 |
| Q1 2021 | 202.70 | 187.07 | 15.63 |
| Q2 2021 | 203.96 | 188.61 | 15.35 |
| Q3 2021 | 205.23 | 190.16 | 15.06 |
| Q4 2021 | 205.60 | 191.67 | 13.93 |
| Q1 2022 | 204.90 | 193.08 | 11.82 |
| Q2 2022 | 206.34 | 194.51 | 11.84 |
| Q3 2022 | 208.33 | 195.99 | 12.35 |
| Q4 2022 | 208.97 | 197.44 | 11.53 |
| Q1 2023 | 208.41 | 198.80 | 9.62 |
| Q2 2023 | 208.24 | 200.09 | 8.16 |
| Q3 2023 | 208.63 | 201.34 | 7.29 |
| Q4 2023 | 205.89 | 202.38 | 3.50 |
| Q1 2024 | 203.41 | 203.24 | 0.17 |
| Q2 2024 | 202.01 | 203.98 | -1.97 |
| Q3 2024 | 201.32 | 204.63 | -3.31 |
| Q4 2024 | 200.25 | 205.19 | -4.94 |
| Q1 2025 | 200.77 | 205.73 | -4.96 |
| Q2 2025 | 200.50 | 206.23 | -5.73 |
| Q3 2025 | 200.24 | 206.67 | -6.43 |
| Q4 2025 | 199.00 | 207.01 | -8.01 |

## How to read this benchmark

**How to read it.** The BIS gap equals private credit to GDP minus its one-sided trend. A positive gap shows that credit is above trend.

## How this benchmark is used

**Why traders watch it.** Credit and equity traders use this benchmark to track Korean private credit against its long-run trend.

## Frequently asked questions

**What is the latest reading for Korea private credit-to-GDP gap?**

The latest data is from Q4 2025. The Credit / GDP reading is 199.00 % of GDP. The One-sided trend reading is 207.01 % of GDP. The BIS credit gap reading is -8.01 pp. The Credit / GDP line is down 1.3 pp over the past year. It is above its long-run median of 156.00 % of GDP.

**How often does this benchmark update?**

The source publishes quarterly data. PIER20 updates the page after each new observation. The chart shows the data date and fetch date.

**What data sources does this chart use?**

The Bank for International Settlements (BIS) publishes the data. The methodology section lists each source series.

**Where does the data come from?**

The Bank for International Settlements (BIS) publishes the source data. The source table lists each series and its exact link.

## Methodology

- Formula: BIS private-sector credit/GDP, trend and published gap
- Frequency: Quarterly
- Sources: Credit / GDP (credit-gdp) https://stats.bis.org/api/v1/data/WS_CREDIT_GAP/Q.KR.P.A.A; One-sided trend (credit-trend) https://stats.bis.org/api/v1/data/WS_CREDIT_GAP/Q.KR.P.A.B; BIS credit gap (credit-gap) https://stats.bis.org/api/v1/data/WS_CREDIT_GAP/Q.KR.P.A.C. Data via the Bank for International Settlements (BIS).
- Data through: Q4 2025
- Last refreshed: 11 Aug 2026

Full interactive chart: https://pier20.com/benchmarks/korea-private-credit-gap
Disclaimer: research software output, not investment advice.