Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSDFYGDP) from 1930 to 2023 about budget, federal, percent, GDP, and USA.

In 2023, the U.S. government had a budget deficit of 1.69 trillion U.S. dollars. This is compared to 2000, when the government had a budget surplus of 0.24 trillion U.S. dollars.

U.S. Government budget

The government budget is a financial statement that demonstrates the government’s suggested revenues and spending for the financial year. Budget surpluses occur when income exceeds expenditures. Budget deficits occur when spending exceeds income. The budget balance of the U.S. government has fluctuated since 2016, and is expected to decrease slightly by 2026.

Military spending

Defense outlays in the United States amounted to 714 billion U.S. dollars in 2020. It is expected to continue to increase over the next several years. The United States currently has the largest defense budget in the world, and is the largest employer in the world. The military budget funds the Army, Marine Corps, Navy, and Air Force. The amount of funding that goes towards the Department of Defense is heavily criticized by Democrats in the United States, because they believe that the funding should be more evenly distributed towards other social welfare programs such as public health insurance and education.

The U.S. budget deficit amounted to roughly 1.7 trillion U.S. dollars in 2023, which was around 6.3 percent of the U.S. GDP. The forecast predicts a state deficit of about 2.58 trillion U.S. dollars in 2034, which would be about 6.2 percent of the U.S. GDP. The GDP of the United States since 1990 can be accessed here.

Graph and download economic data for Federal Surplus or Deficit - from 1901 to 2024 about budget, federal, and USA.

In the first quarter of 2024, the U.S. government's budget balance amounted to a net borrowing of about 2.09 trillion U.S. dollars. This is compared to the first quarter of 2009, when the U.S. government borrowed about 1.79 trillion U.S. dollars.

Graph and download economic data for Federal government budget surplus or deficit (-) (M318501Q027NBEA) from Q3 1959 to Q4 2023 about budget, federal, government, GDP, and USA.

The forecasted budget balance for the U.S. government is predicted to fluctuate between the fiscal years of 2024 and 2034. This forecast predicts a deficit of 2.58 trillion U.S. dollars by fiscal year 2034. A fiscal year covers the period from October 1 to September 30 of a given year.

Japan recorded a Government Budget deficit equal to 6.40 percent of the country's Gross Domestic Product in 2022. This dataset provides - Japan Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Spain recorded a Government Budget deficit equal to 3.60 percent of the country's Gross Domestic Product in 2023. This dataset provides the latest reported value for - Spain Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The budget balance in relation to the GDP in the United States was forecast to increase between 2024 and 2029 by in total 1.6 percentage points. This overall increase does not happen continuously, notably not in 2028. The budget balance is estimated to amount to -6.04 percent in 2029. The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.Find more statistics on other topics about the United States with key insights such as the annual average consumer price index, ratio of the national debt to the gross domestic product, and the gross domestic product in current prices.

Key information about US Consolidated Fiscal Balance: % of GDP

• United States Consolidated Fiscal Balance recorded a deficit equal to 7.0 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 6.4 % in the previous quarter
• US Consolidated Fiscal Balance to GDP data is updated quarterly, available from Sep 1981 to Dec 2024, with an average ratio of -3.4 %
• The data reached an all-time high of 2.5 % in Dec 2000 and a record low of -19.0 % in Mar 2021

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Bureau of the Fiscal Service provides Consolidated Fiscal Balance in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Consolidated Fiscal Balance covers Central Government only.


Further information about US Consolidated Fiscal Balance: % of GDP

• In the latest reports, US National Government Debt reached 36,220.2 USD bn in Jan 2025
• US Nominal GDP reached 6,632.4 USD bn in Mar 2023

Italy recorded a Government Budget deficit equal to 3.40 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Italy Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the government deficit in relation to the GDP in Italy decreased by around one percentage point compared to 2022. In total, the government deficit amounted to 7.2 percent of GDP in 2023. Net lending/net borrowing shows the financial position of a government after accounting for expenditures. Net lending means that a government is providing financial resources to other sectors, while net borrowing means that a government is borrowing resources from other sectors.

The budget balance in relation to the GDP in Argentina was forecast to continuously increase between 2024 and 2029 by in total 1.4 percentage points. After the sixth consecutive increasing year, the budget balance is estimated to reach 1.33 percent and therefore a new peak in 2029. The indicator describes the general government net lending/borrowing which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expense and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.Find more key insights for the budget balance in relation to the GDP in countries like Chile, Paraguay, and Uruguay.

Ireland recorded a Government Budget surplus equal to 1.70 percent of the country's Gross Domestic Product in 2023. This dataset provides the latest reported value for - Ireland Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Federal Budget Surplus or Deficit for the United States (M1525EUSM144NNBR) from Jul 1945 to Dec 1962 about budget, federal, and USA.

Key information about China Consolidated Fiscal Balance: % of GDP

• China Consolidated Fiscal Balance recorded a deficit equal to 4.8 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 4.9 % in the previous quarter
• China Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1995 to Dec 2024, with an average ratio of -2.0 %
• The data reached an all-time high of 1.4 % in Jun 2008 and a record low of -6.1 % in Dec 2020

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Ministry of Finance provides year-to-date Consolidated Fiscal Balance in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Consolidated Fiscal Balance as % of Nominal GDP prior to Q4 2007 is calculated from non year-to-date Consolidated Fiscal Balance.


Further information about China Consolidated Fiscal Balance: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023
• China Nominal GDP reached 4,166.8 USD bn in Mar 2023

Ukraine Govt Finance: Consolidated Budget: Deficit: in % of GDP data was reported at 4.600 % in 2014. This records an increase from the previous number of 4.200 % for 2013. Ukraine Govt Finance: Consolidated Budget: Deficit: in % of GDP data is updated yearly, averaging 3.200 % from Dec 1992 (Median) to 2014, with 23 observations. The data reached an all-time high of 13.800 % in 1992 and a record low of 0.200 % in 2003. Ukraine Govt Finance: Consolidated Budget: Deficit: in % of GDP data remains active status in CEIC and is reported by National Bank of Ukraine. The data is categorized under Global Database’s Ukraine – Table UA.F007: Government Finance.

Australia recorded a Government Budget surplus equal to 0.90 percent of the country's Gross Domestic Product in 2023. This dataset provides - Australia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

A budget deficit occurs when a country, business, or an individual has spending that is greater than the revenue received over a specific period, usually measured as a year. Romania's budget for 2024 is prepared for a deficit of five percent of the GDP, as of August 2024 it reached 4.53 percent.