The average consumer debt balance in the United States has peaked in 2024 at roughly ******* U.S. dollars. However, average consumer debt had decreased between 2010 and 2013, when it reached approximately ****** U.S. dollars. Here, consumer debt refers to student and car loans, credit cards, personal loans, mortgages, and other types of debt.

In the third quarter of 2024, household debt in the United States amounted to over 71.66 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2023, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

Federal Reserve Board of New York provides quarterly Household Debt in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Further information about United States Household Debt

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q1 2025 about disposable, payments, personal income, debt, percent, households, personal, income, services, and USA.

Credit card debt in the United States has been growing at a fast pace between 2021 and 2025. In the fourth quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from *** billion U.S. dollars in the last quarter of 2019 to *** billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2025. That year, the penetration rate of credit cards in the United States was ** percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2024, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.

Debt service ratios, interest and obligated principal payments on debt, and related statistics for households, Canada.

The UK's average credit card debt per household grew by *** British pounds between December 2021 and December 2022, the first increase since 2020. Standing at ***** British pounds at December 2022, the figure contrasts with the decline in 2020 – when the debt declined from ***** British pounds to ***** British pounds. That particular drop was likely a result of Covid-19's economic impact, and consumers trying to get rid of their credit card debt. The increase in 2022 may be caused by growing interest rates and the cost of living crisis beginning to take shape.

Household debt to GDP, in percent in Colombia, December, 2024 The most recent value is 25.69 percent as of December 2024, a decline compared to the previous value of 26.03 percent. Historically, the average for Colombia from December 1996 to December 2024 is 19.78 percent. The minimum of 8.95 percent was recorded in March 2002, while the maximum of 32.38 percent was reached in December 2020. | TheGlobalEconomy.com

The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to ****** U.S. dollars in 2023. While respondents had ****** U.S. dollars of debt in 2018, that volume decreased to ****** U.S. dollars in 2019, which constituted the largest year-over-year decrease.What age groups are more indebted in the U.S.?The age group with the highest level of consumer debt in the U.S. was belonging to the Generation X with approximately ******* U.S. dollars of debt in 2022. The next generations with high consumer debt levels were baby boomers and millennials, whose debt levels were similar. In comparison, credit card debt is more equally distributed across all ages. There is an exception among people under 35 years old, who are significantly less burdened with credit card debt. However, most consumers expect to get rid of their debt in the short term. College expenses as a source of debtEducational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ** percent of the total. However, around ** percent of undergraduates from lower-income families had student loans, while over a fifth of undergraduates from higher-income families had student loans. Independently of how they cover these expenses, the confidence of students and parents about being able to pay these college costs was high in most cases.

Households Debt in Canada decreased to 99.58 percent of GDP in the first quarter of 2025 from 100.39 percent of GDP in the fourth quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household debt to GDP, in percent in Indonesia, December, 2024 The most recent value is 16.2 percent as of December 2024, a decline compared to the previous value of 16.3 percent. Historically, the average for Indonesia from December 2001 to December 2024 is 14.19 percent. The minimum of 6.2 percent was recorded in December 2001, while the maximum of 17.8 percent was reached in December 2020. | TheGlobalEconomy.com

Key information about France Household Debt: % of GDP

• France household debt accounted for 74.2 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 77.8 % in the previous year.
• France household debt to GDP ratio is updated yearly, available from Dec 1977 to Dec 2023.
• The data reached an all-time high of 81.0 % in Dec 2020 and a record low of 19.6 % in Dec 1977.

CEIC calculates annual Household Debt as % of Nominal GDP from quarterly Household Debt and annual Nominal GDP. The Banque de France provides Household Debt in EUR. National Institute of Statistics and Economic Studies provides Nominal GDP in EUR. Household Debt includes Sole Proprietorship.


Related information about France Household Debt: % of GDP

• In the latest reports, France Household Debt reached 2,335.5 USD bn in Sep 2024.
• Money Supply M2 in France increased 0.8 % YoY in Nov 2024.
• France Foreign Exchange Reserves was measured at 29.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 0.5 Months of Import in Nov 2024.
• France Domestic Credit reached 5,416.5 USD bn in Oct 2024, representing an increased of 1.4 % YoY.
• The country's Non Performing Loans Ratio stood at 2.4 % in Dec 2021, compared with the ratio of 2.7 % in the previous year.

Households Debt in India increased to 41.90 percent of GDP in the fourth quarter of 2024 from 41.30 percent of GDP in the third quarter of 2024. This dataset provides - India Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Household debt to GDP, in percent in France, December, 2024 The most recent value is 60.5 percent as of December 2024, a decline compared to the previous value of 60.7 percent. Historically, the average for France from March 1990 to December 2024 is 46.92 percent. The minimum of 30.8 percent was recorded in March 1990, while the maximum of 68.2 percent was reached in December 2020. | TheGlobalEconomy.com

Household debt to GDP, in percent in Norway, December, 2024 The most recent value is 88.6 percent as of December 2024, an increase compared to the previous value of 88.3 percent. Historically, the average for Norway from March 1990 to December 2024 is 75.19 percent. The minimum of 52.5 percent was recorded in December 2000, while the maximum of 113.4 percent was reached in December 2020. | TheGlobalEconomy.com

Household debt to GDP, in percent in Italy, December, 2024 The most recent value is 36.1 percent as of December 2024, a decline compared to the previous value of 36.2 percent. Historically, the average for Italy from March 1990 to December 2024 is 31.78 percent. The minimum of 16.3 percent was recorded in September 1990, while the maximum of 44.9 percent was reached in December 2020. | TheGlobalEconomy.com

In 2023, households in the United States with delinquent debt over 120 days late owed on average 212 U.S. dollars. Meanwhile, the average borrower with delinquent debt on derogatory owed 659 U.S. dollars. According to that, many debtors with money past its due in the U.S. owed relatively low amounts of money.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-07-30 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

Key information about Taiwan Household Debt: % of GDP

• Taiwan household debt accounted for 95.6 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 88.5 % in the previous year.
• Taiwan household debt to GDP ratio is updated yearly, available from Dec 2000 to Dec 2023.
• The data reached an all-time high of 96.0 % in Dec 2020 and a record low of 79.9 % in Dec 2008.

CEIC calculates annual Household Debt as % of Nominal GDP from annual Household Debt and annual Nominal GDP. The Central Bank of the Republic of China provides Household Debt in local currency. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in USD. Federal Reserve Board average market exchange rate is used for currency conversions. Household Debt includes NPISH.


Related information about Taiwan Household Debt: % of GDP

• In the latest reports, Taiwan Household Debt reached 723.6 USD bn in Dec 2023.
• Money Supply M2 in Taiwan increased 5.5 % YoY in Nov 2024.
• Taiwan Foreign Exchange Reserves was measured at 576.7 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 15.4 Months of Import in Dec 2024.
• Taiwan Domestic Credit reached 1,539.1 USD bn in Nov 2024, representing an increased of 8.4 % YoY.
• The country's Non Performing Loans Ratio stood at 0.1 % in Oct 2024, compared with the ratio of 0.1 % in the previous month.

Households Debt in South Africa increased to 62.50 percent of gross income in 2024 from 62.40 percent in 2023. This dataset provides - South Africa Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.