Where Data Tells the Story
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Global broad money supply* rose to $142 trillion in September 2025, up from $26 trillion in 2000, reflecting a robust compound annual growth rate (CAGR) of 7.0%. Growth accelerated notably in 2025, increasing 9.1% year-to-date and 6.7% year-on-year in September— significantly boosted by the U.S. dollar’s 9.9% depreciation.
China accounted for the largest share at $47.1 trillion (33.1%), followed by the European Union ($22.3 trillion, 15.7%), the United States ($22.2 trillion, 15.6%), Japan ($11.0 trillion, 7.7%), and the United Kingdom ($5.0 trillion, 3.5%)—together comprising three-quarters of global liquidity.
Between February 2020 and February 2022, money supply jumped 25%, before leveling off around $125 trillion through 2022 and 2023. From 2021 to 2024, growth slowed to a muted 1.4% CAGR, pulling the 2019–2024 rate down to 5.3%, below the long-term trend.
* Data covers 169 countries and territories, representing 99% of global GDP. All figures are converted to U.S. dollars.