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.

In 2023, the debt services payments to disposable income ratio in the United States has remained relatively stable. That came after a sharp drop of the ratio in 2021 and 2022, which was followed by a rapid increase of the debt service payments, as they represented over 9.8 percent of their personal disposable income in the last quarter of 2023. In this context, debt service refers to the amount of money that households need to pay up their debts, including the interest rates of their loans and lending.

Graph and download economic data for Consumer Debt Service Payments as a Percent of Disposable Personal Income (CDSP) from Q1 1980 to Q4 2024 about disposable, payments, debt, personal income, percent, personal, consumer, services, income, and USA.

The tables and interactive maps below allow users to explore the ratio of debt to income by state, metropolitan statistical area, and county for each year since 1999. Household debt is calculated from Federal Reserve Bank of New York (FRBNY) Consumer Credit Panel/Equifax Data, and household income is reported by the Bureau of Labor Statistics.

In the second quarter of 2024, the volume debt accumulated by French households was bigger than their disposable income. Household debt in France amounted to nearly 112 percent of their disposable income at that time. This indebtedness ratio has increased since 2007, when it was 96 percent. However, several European countries still had much higher household debt ratios than France.

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

Denmark, the Netherlands, and Norway were among the European countries with most indebted households in 2023 and 2024. The debt of Dutch households amounted to 200 percent their disposable income in , as they had a ratio of over 180 percent in the second quarter of 2024. Meanwhile, Norwegian households' debt represented 233 percent of their income. However, households in most countries were less indebted, with that ratio amounting to 97 percent in the Euro area. Less indebtedness in Western and Northern Europe There were several European countries where household's debts outweighed their disposable income. Most of those countries were North or West European. However, the indebtedness ratio in Denmark has been decreasing during the past decade. As the debt of Danish households represented nearly 273 percent in the last quarter of 2014, which has fallen very significantly by 2024. Other countries with indebted households have been following similar trends. The households' debt-to-income ratio in the Netherlands has also fallen from over 275 percent in 2013 to 200 percent in 2024. Debt per adult in Europe In Europe, the value of debt per adult varies considerably from an average of around 10,000 U.S. dollars in Europe to a much higher level in certain countries such as Switzerland. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income from Q1 1980 to Q4 2024 about disposable, payments, debt, personal income, percent, personal, households, services, income, and USA.

Households Debt in the United States decreased to 70.50 percent of GDP in the third quarter of 2024 from 70.70 percent of GDP in the second quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the 3rd quarter of 2024, the debt of households in the United Kingdom amounted to 120 percent of their income. This indicator shows the average level of indebtedness of the the general population and their ability to repay their debts. The total value of household debt (total liabilities and loans to households) has increased annually since 2000. Debt to income ratio increased during the pandemic As we have seen here, households have been decreasing their indebtedness levels in the past years. However, the volume of new consumer lending actually soared between 2022 and 2024. Meanwhile, the growth rate of mortgages in the UK has remained lower these past years, but it has also shown an increase on amount of lending.

Indebtedness in Europe The household debt of many countries in Europe as a share of their disposable income in 2024 was over 100 percent. That was mostly the case for Northern and Western European countries, such as Norway, the Netherlands, and Denmark. Germany and Austria were some of the largest exceptions, as they were among the few countries in that part of Europe with households' debt representing less than 80 percent of hteir income.

United States - Household Debt Service Payments as a Percent of Disposable Personal Income was 11.28% in October of 2024, according to the United States Federal Reserve. Historically, United States - Household Debt Service Payments as a Percent of Disposable Personal Income reached a record high of 15.85 in October of 2007 and a record low of 9.08 in January of 2021. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Household Debt Service Payments as a Percent of Disposable Personal Income - last updated from the United States Federal Reserve on June of 2025.

Key information about Hong Kong SAR (China) Household Debt: % of GDP

• Hong Kong SAR (China) household debt accounted for 87.8 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 88.8 % in the previous quarter.
• Hong Kong SAR (China) household debt to GDP ratio is updated quarterly, available from Mar 1982 to Dec 2024.
• The data reached an all-time high of 96.2 % in Mar 2023 and a record low of 14.6 % in Jun 1982.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Hong Kong Monetary Authority provides Household Debt in local currency. Census and Statistics Department provides Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Mortgages and Consumer Loans. Household Debt prior to Q4 2018 excludes Working Capital Loans.


Related information about Hong Kong SAR (China) Household Debt: % of GDP

• In the latest reports, Hong Kong SAR (China) Household Debt reached 359.2 USD bn in Dec 2024.
• Money Supply M2 in Hong Kong SAR (China) increased 7.3 % YoY in Dec 2024.
• Hong Kong SAR (China) Foreign Exchange Reserves was measured at 421.3 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.3 Months of Import in May 2023.
• Hong Kong SAR (China) Domestic Credit reached 1,011.8 USD bn in Oct 2024, representing an drop of 0.2 % YoY.
• The country's Non Performing Loans Ratio stood at 2.2 % in Sep 2024, compared with the ratio of 2.1 % in the previous quarter.

Key information about China Household Debt: % of GDP

• China household debt accounted for 63.3 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 61.9 % in the previous quarter.
• China household debt to GDP ratio is updated quarterly, available from Mar 2007 to Mar 2023.
• The data reached an all-time high of 63.3 % in Mar 2023 and a record low of 17.9 % in Dec 2008.

CEIC calculates quarterly Household Debt as % of Nominal GDP from monthly Household Debt and quarterly Nominal GDP. The People's Bank of China provides Household Debt in local currency. The National Bureau of Statistics provides year-to-date Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics.


Related information about China Household Debt: % of GDP

• In the latest reports, China Household Debt reached 10,834.1 USD bn in Jun 2023.
• Money Supply M2 in China increased 11.6 % YoY in May 2023.
• China Foreign Exchange Reserves was measured at 3,193.0 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Jun 2023.
• China Domestic Credit reached 43,669.0 USD bn in Jun 2023, representing an increased of 10.8 % YoY.
• The country's Non Performing Loans Ratio stood at 1.6 % in Mar 2023, compared with the ratio of 1.6 % in the previous quarter.

Concept: Household debt service ratio – Expected household debt payments to disposable income ratio as a quarterly moving average, seasonally adjusted. Household debt – Ratio of total household debt held by financial institutions to disposable income accumulated over the past twelve months. Source: Central Bank of Brazil – Department of Economics 19881-household-debt-service-ratio---seasonally-adjusted-data 19881-household-debt-service-ratio---seasonally-adjusted-data

Key information about India Household Debt: % of GDP

• India household debt accounted for 17.1 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 14.9 % in the previous year.
• India household debt to GDP ratio is updated yearly, available from Mar 1998 to Mar 2024.
• The data reached an all-time high of 17.1 % in Mar 2024 and a record low of 2.2 % in Mar 1999.

CEIC calculates annual Household Debt as % of Nominal GDP from annual Household Debt and annual Nominal GDP. The Reserve Bank of India provides Household Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Consumer Durables, Housing and Rest of Personal Loans. Household Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India Household Debt: % of GDP

• In the latest reports, India Household Debt reached 617.3 USD bn in Mar 2024.
• Money Supply M2 in India increased 7.9 % YoY in Nov 2024.
• India Foreign Exchange Reserves was measured at 547.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.2 Months of Import in May 2023.
• India Domestic Credit reached 3,168.1 USD bn in Dec 2024, representing an increased of 11.1 % YoY.
• The country's Non Performing Loans Ratio stood at 2.8 % in Mar 2024, compared with the ratio of 3.9 % in the previous year.

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

Key information about South Africa Household Debt: % of GDP

• South Africa household debt accounted for 40.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 40.6 % in the previous quarter.
• South Africa household debt to GDP ratio is updated quarterly, available from Mar 1969 to Sep 2024.
• The data reached an all-time high of 49.6 % in Sep 2007 and a record low of 25.0 % in Sep 1980.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Household Debt is calculated from Household Disposable Income and ratio of Household Debt to Household Disposable Income. South African Reserve Bank provides Household Debt in local currency. Statistics South Africa provides Nominal GDP in local currency.


Related information about South Africa Household Debt: % of GDP

• In the latest reports, South Africa Household Debt reached 171.2 USD bn in Sep 2024.
• Money Supply M2 in South Africa increased 7.1 % YoY in Oct 2024.
• South Africa Foreign Exchange Reserves was measured at 45.0 USD bn in Oct 2024.
• The Foreign Exchange Reserves equaled 4.8 Months of Import in Oct 2024.
• South Africa Domestic Credit reached 319.5 USD bn in Oct 2024, representing an increased of 6.8 % YoY.
• The country's Non Performing Loans Ratio stood at 5.3 % in Oct 2024, compared with the ratio of 5.2 % in the previous month.

Graph and download economic data for Large Bank Consumer Mortgage Balances: Original Front-End Debt-to-Income (DTI): 50th Percentile (RCMFLBFEDTIPCT50) from Q3 2012 to Q4 2024 about FR Y-14M, origination, large, percentile, balance, mortgage, debt, consumer, banks, depository institutions, and USA.

In the first quarter of 2024, the household debt-to-income ratio in the United States differed significantly within the country. The highest household debt-to-income ratio was recorded in Hawaii at 2.2, and the lowest in the District of Columbia at 0.52 percent, respectively. A ratio of two means that the household debt in that state was twice larger than their income, while a ratio of less than one reflects a volume of debt that is smaller than the income of those households.

Households Debt in New Zealand increased to 169 percent of gross income in 2024 from 168 percent in 2024. This dataset provides - New Zealand Households Debt To Income- actual values, historical data, forecast, chart, statistics, economic calendar and news.