Financial development - Country rankings

* indicates monthly or quarterly data series

Financial development, 2021:

The average for 2021 based on 40 countries was 0.495 index points. The highest value was in Switzerland: 0.939 index points and the lowest value was in Belarus: 0.165 index points. The indicator is available from 1980 to 2021. Below is a chart for all countries where data are available.

Measure: index points; Source: International Monetary Fund
Select indicator
* indicates monthly or quarterly data series


Countries Financial development, 2021 Global rank Available data
Switzerland 0.939 1 1980 - 2021
UK 0.836 2 1980 - 2021
France 0.815 3 1980 - 2021
Spain 0.803 4 1980 - 2021
Sweden 0.775 5 1980 - 2021
Italy 0.767 6 1980 - 2021
Netherlands 0.709 7 1980 - 2021
Luxembourg 0.708 8 1980 - 2021
Germany 0.702 9 1980 - 2021
Denmark 0.665 10 1980 - 2021
Austria 0.658 11 1980 - 2021
Portugal 0.654 12 1980 - 2021
Finland 0.646 13 1980 - 2021
Norway 0.636 14 1980 - 2021
Belgium 0.632 15 1980 - 2021
Ireland 0.625 16 1980 - 2021
Russia 0.53 17 1984 - 2021
Malta 0.518 18 1980 - 2021
Cyprus 0.508 19 1980 - 2021
Turkey 0.5 20 1985 - 2021
Iceland 0.496 21 1980 - 2021
Greece 0.474 22 1982 - 2021
Croatia 0.468 23 1992 - 2021
Hungary 0.464 24 1982 - 2021
Poland 0.431 25 1980 - 2021
Bulgaria 0.379 26 1988 - 2021
Slovenia 0.324 27 1980 - 2021
Czechia 0.317 28 1990 - 2021
Slovakia 0.28 29 1991 - 2021
Romania 0.275 30 1980 - 2021
Bosnia & Herz. 0.266 31 1995 - 2021
North Macedonia 0.26 32 1992 - 2021
Serbia 0.256 33 1994 - 2021
Estonia 0.252 34 1992 - 2021
Moldova 0.229 35 1992 - 2021
Latvia 0.212 36 1993 - 2021
Ukraine 0.207 37 1992 - 2021
Albania 0.203 38 1992 - 2021
Lithuania 0.197 39 1993 - 2021
Belarus 0.165 40 1993 - 2021


New - World map: Financial development




Definition: An index for overall financial development based on the two subindexes for financial institutions development and financial markets development. See the indicator menu and Svirydzenka, Katsiaryna (IMF, 2016) for more detail.

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All articles

1. Switzerland
2. UK
3. France
4. Spain
5. Sweden
6. Italy
7. Netherlands
8. Luxembourg
9. Germany
10. Denmark
11. Austria
12. Portugal
13. Finland
14. Norway
15. Belgium
16. Ireland
17. Russia
18. Malta
19. Cyprus
20. Turkey
21. Iceland
22. Greece
23. Croatia
24. Hungary
25. Poland
26. Bulgaria
27. Slovenia
28. Czechia
29. Slovakia
30. Romania
31. Bosnia & Herz.
32. North Macedonia
33. Serbia
34. Estonia
35. Moldova
36. Latvia
37. Ukraine
38. Albania
39. Lithuania
40. Belarus
0.939
0.836
0.815
0.803
0.775
0.767
0.709
0.708
0.702
0.665
0.658
0.654
0.646
0.636
0.632
0.625
0.530
0.518
0.508
0.500
0.496
0.474
0.468
0.464
0.431
0.379
0.324
0.317
0.280
0.275
0.266
0.260
0.256
0.252
0.229
0.212
0.207
0.203
0.197
0.165
0
0.2
0.5
0.7
0.94


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