Pennies in a jar

Money (annual variation in %)

The stock of money in the economy can be measured according to different definitions. The simplest way to measure it is to use the amount of cash and reserves held within the banking system and the cash held by individuals. This definition is also called the “monetary base” and can be broadened by adding more types of money. For instance, bank deposits are usually included in a broader measure of the stock of money in the economy, since they are also used as a means of payment.

The annual variation of the stock of money refers to the increase with respect to the previous year. This will influence the evolution of prices, which will alter consumers’ and businesses’ perceptions of future prices and, consequently, consumption and investment behavior. Most central banks use the policy interest rate to curb growth in the quantity of money available in the economy and thus to influence prices. However, there are some central banks that try to control the quantity of money directly and let the money market determine the interest rates.

This chart displays Money (ann. var. of M2 %) for Euro Area from 2010 to 2023.

Money (annual variation in %) Data

2018 2019 2020 2021 2022
Albania -1.0 3.6 13.8 6.5 2.3
Algeria 11.1 -0.8 7.0 13.6 14.5
Angola 20.4 30.0 24.5 -9.3 -1.4
Argentina 22.8 29.0 78.9 59.5 67.6
Armenia 13.2 21.5 14.8 12.8 13.4
Australia 2.4 2.4 12.7 9.4 6.5
Austria 7.9 4.4 9.3 4.8 3.0
Azerbaijan 17.5 24.5 11.3 17.6 23.8
Bahrain 2.4 11.1 6.5 4.9 3.9
Bangladesh 9.2 9.9 12.6 13.6 9.4
Belarus 20.1 27.4 -3.3 19.8 25.0
Belgium 5.0 5.1 7.9 5.1 1.7
Belize 2.7 5.8 10.7 12.3 4.7
Bolivia 5.4 -7.5 14.1 6.6 4.0
Bosnia-Herz. 9.4 8.9 7.3 11.6 5.5
Botswana 8.3 8.0 5.9 5.0 6.8
Brazil 10.4 8.7 29.0 8.1 18.1
Brunei 2.8 4.3 -0.4 2.7 1.3
Bulgaria 8.9 9.9 10.9 10.7 13.2
Cambodia 22.3 21.5 30.3 17.0 12.3
Cameroon 10.2 11.8 12.8 17.1 12.0
Canada 5.5 7.9 18.0 8.8 3.5
CdI 13.4 10.8 21.1 18.3 9.4
Chile 10.7 10.3 4.9 12.2 2.6
China 8.1 8.7 10.1 9.0 11.8
Colombia 5.0 8.7 14.3 11.8 12.1
Costa Rica -0.4 6.4 14.3 2.2 -5.0
Croatia 8.9 6.4 11.5 13.0 10.1
Czech Republic 5.6 7.0 10.7 7.0 5.0
Denmark 3.2 5.0 10.0 0.9 9.7
Dominican Republic 4.5 10.4 16.0 15.3 7.0
DR Congo 27.0 35.9 45.9 46.5 -3.4
Ecuador 5.7 8.0 10.1 9.8 7.5
Egypt 13.3 13.3 19.7 18.3 27.1
El Salvador 6.0 11.5 11.6 2.5 4.9
Estonia 10.5 9.5 19.4 20.2 1.1
Ethiopia 22.5 20.5 23.9 23.9 33.4
Euro Area 4.5 5.7 11.0 7.1 3.6
Finland 1.8 3.8 14.4 6.3 1.2
France 5.6 7.5 15.9 6.8 5.8
Georgia 15.9 18.8 18.8 17.9 22.9
Germany 4.8 4.6 8.3 5.6 5.0
Ghana 16.1 15.8 35.1 11.9 27.8
Greece 4.4 4.3 12.1 10.0 3.9
Guatemala 9.4 9.8 18.7 11.6 11.1
Haiti 19.2 13.7 4.2 35.5 31.5
Honduras 9.5 13.6 20.1 11.1 14.5
Hong Kong 4.3 2.8 5.8 4.3 1.6
Hungary 12.5 9.5 21.3 16.0 5.9
Iceland 8.0 3.7 22.5 16.4 7.5
India 14.1 11.1 16.1 10.7 6.9
Indonesia 6.3 6.5 12.5 14.0 8.4
Iran 22.1 28.2 38.4 41.4 33.4
Iraq 2.7 8.4 15.9 16.7 20.3
Ireland 5.1 16.0 21.0 8.2 3.4
Israel 4.6 4.4 17.6 19.9 12.7
Italy 2.4 5.9 10.5 7.1 -0.3
Jamaica 9.9 9.7 18.5 13.5 8.5
Japan 2.4 2.6 9.2 3.7 2.9
Jordan 1.2 4.8 5.8 6.7 5.5
Kazakhstan 7.1 11.0 19.2 24.1 18.0
Kenya 8.0 5.4 11.9 5.6 5.3
Korea 6.7 7.9 9.8 12.9 4.0
Kosovo 6.2 2.8 50.9 -5.5 8.8
Kuwait 4.0 -1.3 2.7 -7.4 6.5
Kyrgyzstan 8.2 17.6 20.5 15.6 32.5
Laos 8.4 18.9 16.3 24.0 36.9
Latvia 13.8 8.0 13.1 7.9 6.4
Lebanon -3.0 -17.4 6.3 17.0 47.6
Lithuania 11.4 10.4 32.1 13.5 11.7
Luxembourg 3.2 6.5 6.3 17.4 2.5
Malaysia 8.9 3.5 4.5 6.3 4.3
Mexico 5.0 5.8 11.3 10.0 9.7
Moldova 10.0 8.2 20.2 9.5 9.6
Mongolia 22.8 8.2 16.2 13.8 6.5
Morocco 5.5 5.9 10.2 6.1 9.1
Myanmar -29.1 6.7 16.9 - -
Netherlands -0.5 5.0 9.6 9.1 6.3
New Zealand 6.4 4.7 12.2 7.1 1.8
Nicaragua -19.7 3.2 16.1 11.9 6.6
Nigeria 12.1 6.3 31.4 17.5 16.5
North Macedonia 11.8 9.9 11.2 10.3 6.4
Norway 5.3 4.2 12.1 10.4 5.6
Oman 8.3 2.0 8.9 4.6 0.6
Pakistan 11.1 12.9 17.9 14.8 10.2
Panama 3.0 2.5 8.0 -16.8 0.2
Paraguay 6.6 6.3 18.4 8.3 3.4
Peru 8.9 9.1 37.7 -4.0 0.4
Philippines 8.6 10.9 10.3 8.9 7.8
Poland 8.8 8.7 16.9 8.8 5.3
Portugal 8.5 7.5 11.7 11.8 7.4
Qatar -6.5 2.5 3.8 1.4 17.4
Romania 8.9 10.9 15.3 15.8 6.8
Russia 11.0 9.7 13.5 13.0 24.4
Rwanda 11.8 20.7 13.2 13.8 21.7
Saudi Arabia 2.2 7.6 9.7 4.9 6.0
Senegal 14.1 8.2 12.3 14.5 22.5
Serbia 16.7 16.6 30.9 13.8 6.1
Singapore 3.9 5.0 13.2 2.4 1.8
Slovakia 6.5 8.9 9.1 7.6 1.9
Slovenia 7.4 7.9 12.1 8.8 8.4
South Africa 3.2 4.8 15.0 5.1 6.5
Spain 4.0 4.7 10.7 6.0 3.6
Sri Lanka 13.5 7.6 22.9 13.5 8.9
Sudan 111.9 60.1 88.8 153.2 49.4
Sweden 6.7 7.1 18.4 11.7 2.2
Switzerland 3.5 0.1 6.0 1.5 -3.1
Taiwan 2.7 4.5 9.4 7.3 6.7
Tajikistan 5.1 17.0 18.4 8.2 40.4
Tanzania 3.8 11.8 8.2 17.6 12.1
Thailand 4.7 3.6 10.2 4.8 3.9
Trinidad and Tobago 3.1 0.1 10.9 -0.1 2.1
Tunisia 7.2 11.7 10.1 8.8 9.0
Turkey 20.2 25.6 35.6 52.2 62.3
UAE 2.5 8.0 4.6 5.7 9.0
Uganda 7.0 16.4 18.6 5.8 8.3
Ukraine 5.4 12.7 28.7 12.0 20.8
United Kingdom 3.8 3.9 14.3 6.6 3.0
United States 3.8 5.1 19.1 16.3 5.1
Uruguay 10.5 5.7 16.8 16.2 7.2
Uzbekistan 25.6 16.0 14.4 16.5 33.1
Venezuela 63,257 4,946 1,287 635 354
Vietnam 12.4 14.8 14.5 10.7 6.2
Zambia 15.4 12.2 47.2 6.7 21.0
Zimbabwe 28.4 249.4 485.2 131.8 392.7

Free Sample Report

Interested in Money (annual variation in %)? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest