Trade & Finance
Real interest rate (%)
An interest rate is the amount charged, expressed as a percentage of the principal over a period of time, by the owners of certain kinds of financial assets for putting the financial assets at the disposal of another institutional unit. The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.
World Bank code: FR.INR.RINR • Data available for 146 countries • Latest year: 2024
In , Madagascar led Real interest rate (%) at 48.66.
The world median across 85 reporting countries was 5.81.
How "Trade & Finance" indicators are measured
Trade and finance indicators are sourced from customs declarations, balance-of-payments statistics, and central bank reporting. Exports and imports are usually reported FOB (free on board) for exports and CIF (cost, insurance, freight) for imports, which means global exports and global imports rarely sum to zero. Foreign direct investment data can be volatile year-over-year because of one-off cross-border acquisitions.
Distribution — 2024
- Reporting
- 85 countries
- Median
- 5.81
- Mean
- 4.28
- 25th percentile
- 1.76
- 75th percentile
- 8.43
- Range
- -85.89 – 48.66
World at a Glance — 2024
Every reporting country, grouped by region, shaded by value (quintile).
Lighter = lower value · Darker = higher value. Hover a cell to see the country and value.
Highest Values — 2024
| # | Country | Real interest rate (%) |
|---|---|---|
| 1 | Madagascar Sub-Saharan Africa | 48.66 |
| 2 | Brazil Latin America & Caribbean | 34.73 |
| 3 | Azerbaijan Europe & Central Asia | 16.31 |
| 4 | Gambia, The Sub-Saharan Africa | 15.32 |
| 5 | Kyrgyz Republic Europe & Central Asia | 14.36 |
| 6 | Mozambique Sub-Saharan Africa | 14.33 |
| 7 | Kenya Sub-Saharan Africa | 13.14 |
| 8 | Timor-Leste East Asia & Pacific | 12.08 |
| 9 | Rwanda Sub-Saharan Africa | 11.81 |
| 10 | Armenia Europe & Central Asia | 11.59 |
Looking for a specific country? Only the top and bottom 10 appear here. See where every country ranks for Real interest rate (%).
View complete rankings →Biggest Movers — Year over Year
By Income Group — Average
| Income group | Countries | Mean |
|---|---|---|
| High income | 23 | 4.20 |
| Upper middle income | 36 | 4.64 |
| Lower middle income | 19 | 0.94 |
| Low income | 7 | 11.76 |
By Region — Average
| Region | Countries | Mean |
|---|---|---|
| East Asia & Pacific | 14 | 4.21 |
| Europe & Central Asia | 21 | 4.85 |
| Latin America & Caribbean | 23 | 4.62 |
| Middle East, North Africa, Afghanistan & Pakistan | 5 | 3.52 |
| South Asia | 3 | 5.54 |
| Sub-Saharan Africa | 19 | 3.30 |
Lowest Values — 2024
| # | Country | Real interest rate (%) |
|---|---|---|
| 1 | Zimbabwe | -85.89 |
| 2 | Argentina | -47.43 |
| 3 | South Sudan | -26.89 |
| 4 | Egypt, Arab Rep. | -7.03 |
| 5 | Angola | -4.18 |
| 6 | Bulgaria | -2.49 |
| 7 | Fiji | -1.45 |
| 8 | Romania | -0.75 |
| 9 | Tonga | -0.45 |
| 10 | Samoa | 0.01 |
Source: World Bank Open Data (FR.INR.RINR), CC BY 4.0. Rankings show countries with available data for 2024.