Broad money supply (M3)

In brief

The "Broad money supply (M3)" ranking covers 164 countries and territories. Lowest value: Zimbabwe (11.2 %). Highest value: Hong Kong SAR China (481 %). Median: 59.6 % (data: 1989–2025). The top 10% of countries exceed 122.2 %, while the bottom 10% stay below 26.4 %. By continent, the median is highest in Oceania (82.9 %) and lowest in Africa (30.8 %).

Median by continent

Why this indicator matters

Broad money compares the amount of money in circulation with the size of the economy. It gives an idea of the depth of the financial system: the more developed it is, the more households and businesses use banks to save and borrow.

What makes this indicator vary

It rises when bank credit expands, when savings are held in accounts and when the central bank injects money. It stays low when many transactions are made in cash or outside the banking system. Inflation can also change it.

Reading precautions

A high level does not always mean a richer or more stable country: it can also reflect a very extensive banking system or foreign capital. The definition of the M3 aggregate varies slightly from one country to another according to national statistics.