Formal Borrowing Statistics in Singapore (2026)
According to World Bank Global Findex data, 42.8% of adults in Singapore borrowed from a formal financial institution in 2021. Down from 46.9% in 2017 to 42.8% in 2021 (−4.1 percentage points). Singapore ranks #6 of 16 economies in East Asia & Pacific on this measure, and #24 of 142 globally.
Key Statistics
- Latest value (2021)
- 42.8% (2021)
- Formal Borrowing in Singapore as of 2021, the most recent observation in World Bank Global Findex data.
- Change since 2017
- −4.1 pp (2021)
- Down from 46.9% in 2017 to 42.8% in 2021 (−4.1 percentage points).
- Earliest value in this dataset (2014)
- 37.8% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 37.8% in 2014 to 42.8% in 2021.
- Peak value (2017)
- 46.9% (2017)
- Highest value in the available series; the 2021 value is 42.8%.
- Rank in East Asia & Pacific
- #6 of 16 (2021)
- Singapore ranks 6 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #24 of 142 (2021)
- Singapore ranks 24 of 142 countries with data globally.
- East Asia & Pacific average
- 33.4% (2021)
- Singapore (42.8%) is above the average of 33.4% across the 16 countries in East Asia & Pacific with data.
- Among women (2021)
- 40.6% (2021)
- Value for women in Singapore, same 2021 World Bank Global Findex data.
- Among men (2021)
- 45.2% (2021)
- Value for men in Singapore, same 2021 World Bank Global Findex data.
- Gender gap (women minus men)
- −4.6 pp (2021)
- In 2021, the figure was 40.6% for women and 45.2% for men — 4.6 percentage points lower among women.
- Among the poorest 40% (2021)
- 28% (2021)
- Value for adults in the poorest 40% of households in Singapore in 2021.
- Poorest-40% gap vs national
- −14.8 pp (2021)
- The poorest 40% (28%) are 14.8 percentage points below the national figure (42.8%).
- Internet use in Singapore (2024)
- 94.4% (2024)
- 94.4% of the population in Singapore used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 6 million (2024)
- Singapore had a population of 6 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2021
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2021 | 42.8% | −4.1 pp |
| 2017 | 46.9% | +9.1 pp |
| 2014 | 37.8% | — |
Frequently asked questions
What share of adults in Singapore borrowed from a formal financial institution?
42.8% of adults in Singapore borrowed from a formal financial institution in 2021, according to World Bank Global Findex data.
How recent is the formal borrowing data for Singapore?
The most recent observation is from 2021. World Bank Global Findex data is reported with a lag, so 2021 is the latest available year for Singapore.
Where does the formal borrowing data for Singapore come from?
The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Singapore is from 2021; the snapshot was retrieved on 2026-06-10.
How has formal borrowing in Singapore changed over time?
World Bank Global Findex data show a rise from 37.8% in 2014 to 42.8% in 2021.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .