In 2023, the gross federal debt in the United States amounted to around ****** U.S. dollars per capita. This is a moderate increase from the previous year, when the per capita national debt amounted to about ****** U.S. dollars. The total debt accrued by the U.S. annually can be accessed here. Federal debt of the United States The level of national debt held by the United States government has risen sharply in the years following the Great Recession. Federal debt is the amount of debt the federal government owes to creditors who hold assets in the form of debt securities. As with individuals and consumers, there is a common consensus among economists that holding debt is not necessarily problematic for government so long as the public debt is held at a sustainable level. Although there is no agreed upon ratio of debt to gross domestic product, the increasing debt held by the Federal Reserve has become a major part of the political discourse in the United States. Politics and the national debt In recent years, debate over the debt ceiling has been of concern to domestic politicians, the owners of federal debt, and global economy as a whole. The debt ceiling is a legislated maximum amount that national debt can reach intended to impose a degree of fiscal prudence on incumbent governments. However, as national debt has grown the debt ceiling has been reached, thus forcing legislative action by Congress. In both 2011 and 2013, new legislation was passed by Congress allowing the debt ceiling to be raised. The Budget Control Act of 2011 and the No Budget, No Pay Act of 2013 successively allowed the government to avoid defaulting on national debt and therefore avert a potential economic crisis.

The United States recorded a Government Debt to GDP of 124.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In September 2023, the national debt of the United States had risen up to 33.17 trillion U.S. dollars. The national debt per capita had risen to 85,552 U.S. dollars in 2021. As represented by the statistic above, the public debt of the United States has been continuously rising.

U.S. public debt Public debt, also known as national and governmental debt, is the debt owed by a nations’ central government. In the case of the U.S., national debt is owed by the federal government to Treasury security holders. Generally speaking, government debt increases with government spending, and can be decreased through taxes. During the COVID-19 pandemic, the U.S. government increased spending significantly to finance virus infrastructure, aid, and various forms of economic relief.

International public debt

Venezuela leads the global ranking of the 20 countries with the highest public debt in 2021. In relation to the Gross Domestic Product (GDP), Venezuela's public debt amounted to around 306.95 percent of GDP. Eritrea was ranked fifth, with an estimated debt of 170 percent of the Gross Domestic Product.

The national debt of the United Kingdom is forecasted to grow from 87 percent in 2022 to 70 percent in 2027, in relation to the Gross Domestic Product. These figures include England, Wales, Scotland as well as Northern Ireland.

Greece had the highest national debt among EU countries as of the 4th quarter of 2020 in relation to the Gross Domestic Product. Germany ranked 13th in the EU, with its national debt amounting to 69 percent of GDP in the same time period.

Tuvalu was one of the 20 countries with the lowest national debt in 2021 in relation to the GDP, while Macao had an estimated level of national debt of zero percent, the lowest of any country. The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance.

The average for 2022 based on 174 countries was 59.99 percent. The highest value was in Japan: 236.58 percent and the lowest value was in Liechtenstein: 0.5 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

The statistic shows the national debt of the United States from 2019 to 2022 in relation to the gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of the United States was at around 120.03 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

United States US: Central Government Debt: Total: % of GDP data was reported at 99.457 % in 2016. This records an increase from the previous number of 97.375 % for 2015. United States US: Central Government Debt: Total: % of GDP data is updated yearly, averaging 54.468 % from Sep 1989 (Median) to 2016, with 28 observations. The data reached an all-time high of 99.457 % in 2016 and a record low of 15.109 % in 2001. United States US: Central Government Debt: Total: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Government Revenue, Expenditure and Finance. Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; Weighted average;

Key information about Mexico Government Debt: % of GDP

• Mexico Government debt accounted for 47.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 48.1 % in the previous quarter.
• Mexico government debt to GDP ratio data is updated quarterly, available from Dec 2005 to Sep 2024.
• The data reached an all-time high of 56.2 % in Mar 2021 and a record low of 20.3 % in Dec 2008.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling average of quarterly annualized Nominal GDP. Government Debt is calculated as a sum of Domestic Government Debt and External Government Debt. The Secretary of Finance and Public Credit provides Government Debt in USD and local currency. The National Institute of Statistics and Geography provides annualized Nominal GDP in local currency. The Federal Reserve Board period end market exchange rate is used for Government Debt and average market exchange rate is used for Nominal GDP currency conversions. Government Debt covers Central Government only.


Related information about Mexico Government Debt: % of GDP

• In the latest reports, Mexico National Government Debt reached 901.9 USD bn in Aug 2024.
• The country's Nominal GDP reached 397.5 USD bn in Mar 2023.

The average level of government debt to GDP ratios in the European Union and the Euro currency area increased rapidly following the Global Financial Crisis of 2007-2008 and subsequent recession, peaking in the Eurozone at 93.2 percent of GDP. This figure was exceeded once more in 2020 due to increased borrowing due to the COVID-19 pandemic, with the Eurozone average now being over 90% of yearly production. The debt to GDP ratio measures the stock of government debt which is yet to be paid off in relation to the Gross Domestic Product of a country or region, which is the monetary value of goods and services produced and sold in a year. This ratio gives a clearer picture of debt sustainability than by looking at the absolute value of debt, as a country with a large economy may be able to easily pay off debts which seem large in absolute terms, but are in fact small in comparison to GDP.

India: Government debt as percent of GDP: The latest value from 2023 is 83.02 percent, an increase from 81.68 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for India from 1991 to 2023 is 75.09 percent. The minimum value, 67.1 percent, was reached in 2014 while the maximum of 88.43 percent was recorded in 2020.

India recorded a Government Debt to GDP of 81.59 percent of the country's Gross Domestic Product in 2023. This dataset provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Federal government current expenditures: Interest payments (A091RC1Q027SBEA) from Q1 1947 to Q1 2025 about payments, expenditures, federal, government, interest, GDP, and USA.

Euro Area recorded a Government Debt to GDP of 87.40 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Euro Area Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the national debt of India amounted to around 3.16 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

Ghana: Government debt as percent of GDP: The latest value from 2023 is 82.94 percent, a decline from 92.69 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Ghana from 1990 to 2023 is 47.77 percent. The minimum value, 18.51 percent, was reached in 2006 while the maximum of 92.69 percent was recorded in 2022.

Puerto Rico: Government debt as percent of GDP: The latest value from 2023 is 16.66 percent, a decline from 16.73 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Puerto Rico from 2006 to 2023 is 44.68 percent. The minimum value, 16.66 percent, was reached in 2023 while the maximum of 54.55 percent was recorded in 2014.

Antigua and Barbuda: Government debt as percent of GDP: The latest value from 2022 is 84.83 percent, a decline from 92.49 percent in 2021. In comparison, the world average is 59.99 percent, based on data from 174 countries. Historically, the average for Antigua and Barbuda from 2000 to 2022 is 94.39 percent. The minimum value, 76.8 percent, was reached in 2019 while the maximum of 131.4 percent was recorded in 2004.

Interactive chart showing the annual percentage change of US national debt since 1967.

Norway: Government debt as percent of GDP: The latest value from 2023 is 44.3 percent, an increase from 36.5 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Norway from 1980 to 2023 is 37.41 percent. The minimum value, 22.94 percent, was reached in 1998 while the maximum of 52.56 percent was recorded in 1993.

United States Federal Debt: PDS Held By Private Investors: Average Length data was reported at 5.420 Year in Jun 2018. This stayed constant from the previous number of 5.420 Year for May 2018. United States Federal Debt: PDS Held By Private Investors: Average Length data is updated monthly, averaging 5.000 Year from Dec 1994 (Median) to Jun 2018, with 283 observations. The data reached an all-time high of 6.000 Year in Jun 2001 and a record low of 3.830 Year in Dec 2008. United States Federal Debt: PDS Held By Private Investors: Average Length data remains active status in CEIC and is reported by Bureau of the Fiscal Service. The data is categorized under Global Database’s United States – Table US.F004: Federal Debt.