This statistic shows the growth rate of China's money supply from 2013 to 2023, i.e. the growth rate of the M2 money supply. M2 is made up of the nonbanks' demand deposits as well as all the cash in circulation (M1) and short-term deposits. In 2023, China's money supply increased by 9.7 percent compared to the previous year.

Venezuela VE: Broad Money: Average Annual Growth Rate data was reported at 58.843 % in 2013. This records an increase from the previous number of 53.290 % for 2012. Venezuela VE: Broad Money: Average Annual Growth Rate data is updated yearly, averaging 20.380 % from Dec 1961 (Median) to 2013, with 53 observations. The data reached an all-time high of 72.736 % in 2006 and a record low of -0.033 % in 1966. Venezuela VE: Broad Money: Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.; ; International Monetary Fund, International Financial Statistics and data files.; ;

Australia Broad Money: Average Annual Growth Rate data was reported at 3.933 % in 2023. This records a decrease from the previous number of 7.841 % for 2022. Australia Broad Money: Average Annual Growth Rate data is updated yearly, averaging 9.527 % from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 31.016 % in 1989 and a record low of 1.182 % in 1991. Australia Broad Money: Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.;International Monetary Fund, International Financial Statistics and data files.;;

This statistic shows the unadjusted annual inflation rate and monetary base growth rate in the United States from 1960 to 2019. Historic data is shown in 3-year increments. In 2019, prices went up by 1.6 percent compared to 2018. In the same time frame, the monetary base decreased by approximately 0.8 percent.

The value of M2 money supply in the U.S. amounted to 20.86 trillion U.S. dollars in 2023, which was a slight decrease compared to the previous year. While between 2000 and 2019, the M2 money supply increased at a relatively slow pace, there was an exceptionally sharp increase in 2020, which was the result of the Federal Reserve's quantitative easing in response to the COVID-19 pandemic.

Uzbekistan UZ: Broad Money Average Annual Growth Rate data was reported at 12.164 % in 2023. This records a decrease from the previous number of 30.175 % for 2022. Uzbekistan UZ: Broad Money Average Annual Growth Rate data is updated yearly, averaging 20.599 % from Dec 2014 (Median) to 2023, with 10 observations. The data reached an all-time high of 40.206 % in 2017 and a record low of 12.164 % in 2023. Uzbekistan UZ: Broad Money Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Uzbekistan – Table UZ.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.;International Monetary Fund, International Financial Statistics and data files.;;

The Eurozone's money supply has experienced significant growth over the past two decades, with the M2 measure reaching approximately 15.6 trillion euros by the end of 2024. This substantial increase from 4.6 trillion euros in 2001 reflects the expanding monetary base in the euro area. However, 2023 marked a notable deviation from this trend, as it was the first year in the observed period where the money supply in the euro area decreased. Components of money supply M2 is a broader measure of money supply that includes cash, checking deposits, and convertible near money. It encompasses the more narrow M1 measure, which consists of the most liquid components, such as currency in circulation and overnight deposits. As of December 2024, the Eurozone's M1 money supply stood at 10.57 trillion euros, while M2 reached 15.6 trillion euros. These figures are used by central banks to forecast inflation and interest rates, playing a crucial role in shaping monetary policy. Comparison with other regions While the Eurozone has seen steady growth in its money supply, other major economies have experienced their own unique trajectories. In the United States, for instance, the M2 money supply reached 20.86 trillion U.S. dollars in 2023, showing a slight decrease from the previous year. Both the Eurozone and the U.S. saw exceptional increases in their money supply during 2020, largely due to quantitative easing measures implemented in response to the COVID-19 pandemic. This global economic event had a profound impact on monetary policies across different regions, influencing the money supply dynamics worldwide.

Serbia RS: Broad Money: Average Annual Growth Rate data was reported at 3.571 % in 2017. This records a decrease from the previous number of 9.876 % for 2016. Serbia RS: Broad Money: Average Annual Growth Rate data is updated yearly, averaging 23.604 % from Dec 1998 (Median) to 2017, with 20 observations. The data reached an all-time high of 160.808 % in 2000 and a record low of 3.571 % in 2017. Serbia RS: Broad Money: Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Serbia – Table RS.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.; ; International Monetary Fund, International Financial Statistics and data files.; ;

The M4 money supply reached nearly grew by 100 billion GBP over the course of 2020, continuing its growth despite COVID-19. Money supply is understood as the entire stock of currency and other liquid financial instruments circulating in the economy of the country at the particular point in time. Money supply can be measured in various ways: one of these is M4 measure. It is also called a "broad money aggregate", as it is based on the most inclusive methods of calculating a country's money supply, it results in the broadest estimate. The formula for calculation varies to a degree between countries, but the general rule is to include the totality of assets that households and businesses use to make payments and to hold as short-term investments. In the United Kingdom, this measure includes currency (notes and coin), funds in bank accounts: sterling deposits, commercial papers, bonds, claims on MFIs arising from repos, estimated holdings of sterling bank bills and other categories.

In 2020, the money supply growth in Sri Lanka was up approximately 23.4 percent from the previous year. In comparison, Timor-Leste registered a money supply growth rate of -5.4 percent in the year 2020. Additionally, 16 countries in the Asia Pacific region registered a money supply growth of more than 10 percent from the previous year.

Key information about Cambodia M2 Growth

• Cambodia Money Supply M2 increased 16.8 % YoY in Nov 2024, compared with a growth of 15.4 % in the previous month
• Cambodia Money Supply M2 growth data is updated monthly, available from Jan 1996 to Nov 2024
• The data reached an all-time high of 125.0 % in Jul 1996 and a record low of 0.5 % in Feb 2009

CEIC calculates monthly M2 Growth Rate from monthly M2. The National Bank of Cambodia provides M2 in local currency. M2 Growth Rate prior to December 2002 is based on older methodology.


Further information about Cambodia M2 Growth

• In the latest reports, Cambodia Foreign Exchange Reserves was measured at 17.1 USD bn in Aug 2024
• The Foreign Exchange Reserves equaled 6.6 Months of Import in Mar 2023
• Cambodia Domestic Credit reached 52.8 USD bn in Nov 2024, representing an increased of 1.3 % YoY
• The country's Non Performing Loans Ratio stood at 2.1 % in Dec 2020, compared with the ratio of 1.8 % in the previous year
• Household Debt of Cambodia reached 12.3 USD bn in Oct 2024, accounting for 26.6 % of the country's Nominal GDP

Iceland IS: Broad Money: Average Annual Growth Rate data was reported at -2.039 % in 2016. This records a decrease from the previous number of 6.725 % for 2015. Iceland IS: Broad Money: Average Annual Growth Rate data is updated yearly, averaging 19.386 % from Dec 1961 (Median) to 2016, with 56 observations. The data reached an all-time high of 80.110 % in 1983 and a record low of -10.021 % in 2010. Iceland IS: Broad Money: Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iceland – Table IS.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.; ; International Monetary Fund, International Financial Statistics and data files.; ;

The Eurozone's broad money supply, known as M3, reached a staggering 16.7 trillion euros by December 2024, marking a significant milestone in the region's monetary landscape. This figure represents the culmination of a steady upward trend observed over more than two decades, reflecting the expanding monetary base in the euro area. The growth in M3, which encompasses various forms of liquid assets, provides crucial insights into the overall economic health and monetary policy effectiveness within the Eurozone. Components and comparisons M3 is composed of several elements, including the narrower measures M1 and M2. As of December 2024, the Eurozone's M1 money supply, consisting of the most liquid assets, stood at 10.57 trillion euros. Meanwhile, M2 money supply, which includes M1 plus short-term deposits, reached approximately 15.6 trillion euros. These figures are instrumental for central banks in forecasting inflation and interest rates, guiding monetary policy decisions. Recent trends and global context While the Eurozone's money supply has generally trended upward, 2023 marked a notable deviation as the first year in the observed period where the money supply decreased. This shift mirrors similar trends in other major economies, such as the United States, where both M1 and M2 measures experienced slight decreases in 2023 compared to the previous year. These changes follow exceptional increases in 2020 across various regions, largely attributed to quantitative easing measures implemented in response to the COVID-19 pandemic.

Key information about Poland M2 Growth

• Poland Money Supply M2 increased 8.5 % YoY in Nov 2024, compared with a growth of 7.6 % in the previous month
• Poland Money Supply M2 growth data is updated monthly, available from Dec 1997 to Nov 2024
• The data reached an all-time high of 29.4 % in Mar 1999 and a record low of -1.9 % in Oct 2002

CEIC calculates M2 Growth Rate from monthly M2. Narodowy Bank Polski provides M2 in local currency.


Further information about Poland M2 Growth

• In the latest reports, Poland Foreign Exchange Reserves was measured at 173.0 USD bn in Nov 2024
• The Foreign Exchange Reserves equaled 5.0 Months of Import in Oct 2024
• Poland Domestic Credit reached 480.9 USD bn in Nov 2024, representing an increased of 5.3 % YoY
• The country's Non Performing Loans Ratio stood at 5.3 % in Sep 2024, compared with the ratio of 5.0 % in the previous month
• Household Debt of Poland reached 203.7 USD bn in Jun 2024, accounting for 23.5 % of the country's Nominal GDP

Aruba AW: Broad Money: Average Annual Growth Rate data was reported at 0.788 % in 2023. This records a decrease from the previous number of 3.323 % for 2022. Aruba AW: Broad Money: Average Annual Growth Rate data is updated yearly, averaging 6.040 % from Dec 1986 (Median) to 2023, with 38 observations. The data reached an all-time high of 41.875 % in 1987 and a record low of -3.720 % in 2013. Aruba AW: Broad Money: Average Annual Growth Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Aruba – Table AW.World Bank.WDI: Money Supply. Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.;International Monetary Fund, International Financial Statistics and data files.;;

Key information about Nigeria M2 Growth

• Nigeria Money Supply M2 increased 18.3 % YoY in Jan 2025, compared with a growth of 52.7 % in the previous month
• Nigeria Money Supply M2 growth data is updated monthly, available from Nov 1993 to Jan 2025
• The data reached an all-time high of 85.1 % in Feb 2007 and a record low of -8.9 % in Feb 2006

CEIC calculates M2 Growth Rate from monthly M2. The Central Bank of Nigeria provides M2 in local currency

In 2023, the money supply in Thailand reduced to two percent from the previous year. The growth significantly decreased compared to the previous year and has shown a fluctuation since 2012.

Money Supply M2 in Venezuela increased to 198811.85 VES Million in February from 188827.72 VES Million in January of 2025. This dataset provides - Venezuela Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United Arab Emirates M2 Growth

• United Arab Emirates Money Supply M2 increased 17.7 % YoY in Nov 2024, compared with a growth of 18.1 % in the previous month
• United Arab Emirates Money Supply M2 growth data is updated monthly, available from Jun 1992 to Nov 2024
• The data reached an all-time high of 47.6 % in Jan 2008 and a record low of -4.2 % in Feb 1994

CEIC calculates M2 Growth Rate from monthly M2. The Central Bank of United Arab Emirates provides M2 in local currency. M2 Growth prior to December 2015 includes Commercial Prepayments and Margin Deposits.


Further information about United Arab Emirates M2 Growth

• In the latest reports, United Arab Emirates Foreign Exchange Reserves was measured at 215.3 USD bn in Oct 2024
• The Foreign Exchange Reserves equaled 5.7 Months of Import in Sep 2024
• United Arab Emirates Domestic Credit reached 440.1 USD bn in Oct 2024, representing an increased of 8.3 % YoY
• The country's Non Performing Loans Ratio stood at 5.0 % in Mar 2024, compared with the ratio of 5.3 % in the previous quarter
• Household Debt of United Arab Emirates reached 457.5 USD bn in Apr 2023, accounting for 106.2 % of the country's Nominal GDP

At the end of 2023, the M2 broad money supply in China amounted to over 292 trillion yuan. Broad money supply had been growing consistently over the years. However, the overall growth rate of all money supply had been decreasing.

Money is not money?

In economic theory, money supply describes the volume of currency that exists in a country. Even though it might sound counterintuitive, there are different types of money. For example, cash, saving deposits, or other liquid assets are then divided into tiers from M1 to M3. Thereby, M2 money or broad money comprised of cash and assets that can easily be converted into cash. The main application of M2 money is making payments and economic transactions. For mainstream economists, the volume of M1 and M2 money can indicate inflation.

The mysterious case of money expansion in China

The post-pandemic economic recovery has not materialized as the growth in the M2 money supply would have indicated in China. As a consequence of global anti-COVID-19 measures, China’s economic growth fell far below the country’s development targets. After another underperforming year in 2022, the M2 money supply grew by almost 13 percent in the first quarter of 2023, but the GDP increased only by 4.5 percent, which indicated that the money does not reach the real economy. Therefore, the Chinese economy could be in a liquidity trap or a balance sheet recession.