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.

Graph and download economic data for Gross Federal Debt as Percent of Gross Domestic Product from 1939 to 2023 about gross, debt, federal, GDP, and USA.

Interactive chart of historical data comparing the level of gross domestic product (GDP) with Federal Debt.

Key information about United States Government Debt: % of GDP

• United States Government debt accounted for 124.0 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 123.1 % in the previous quarter.
• US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Dec 2024.
• The data reached an all-time high of 130.4 % in Mar 2021 and a record low of 31.8 % in Sep 1974.

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


Related information about United States Government Debt: % of GDP

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

Households Debt in the United States decreased to 69.20 percent of GDP in the fourth quarter of 2024 from 70.50 percent of GDP in the third quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United States Total Debt: % of GDP

• United States Total Debt accounted for 722.0 % of the country's GDP in 2024, compared with the ratio of 722.0 % in the previous quarter.
• US Total Debt: % of GDP data is updated quarterly, available from Dec 1951 to Sep 2024.
• The data reached an all-time high of 834.9 % in Mar 2021 and a record low of 309.4 % in Jun 1953.

CEIC calculates quarterly Total Debt as % of Nominal GDP from quarterly Total Debt and quarterly Nominal GDP. Total Debt is calculated as sum of Liabilities for NonFinancial Business, Federal Government, State and Local Government, Households & Nonprofit Organizations and Financial Business less Mutual Fund Shares. Federal Reserve Board provides Total Debt in local currency. Bureau of Economic Analysis provides Nominal GDP in local currency.

Private Debt to GDP in the United States decreased to 142 percent in 2024 from 147.50 percent in 2023. United States Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Graph and download economic data for Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S) from Q1 1970 to Q1 2025 about public, debt, federal, GDP, and USA.

Government Debt in the United States decreased to 36211469 USD Million in June from 36215818 USD Million in May of 2025. This dataset provides - United States Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 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.

U.S. Debt to GDP Ratio: 84 years of historical data from 1939 to 2023.

Summarizes the U.S. government's total outstanding debt at the end of each fiscal year from 1789 to the current year.

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.

Graph and download economic data for Federal Outlays: Interest as Percent of Gross Domestic Product (FYOIGDA188S) from 1940 to 2024 about outlays, federal, percent, interest, GDP, and USA.

Key information about United States Household Debt: % of GDP

• United States household debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 62.3 % in the previous quarter.
• US household debt to GDP ratio is updated quarterly, available from Mar 1999 to Dec 2024.
• The data reached an all-time high of 85.8 % in Dec 2008 and a record low of 49.4 % in Mar 1999.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Federal Reserve Board of New York provides Household Debt in USD. The Bureau of Economic Analysis provides Nominal GDP in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Related information about United States Household Debt: % of GDP

• In the latest reports, US Household Debt reached 18,036.0 USD bn in Dec 2024.
• Money Supply M2 in US increased 3.9 % YoY in Jan 2025.
• US 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.
• US Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.7 % in Dec 2024, compared with the ratio of 1.5 % in the previous quarter.

United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product was 120.80844 % of GDP in January of 2025, according to the United States Federal Reserve. Historically, United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product reached a record high of 132.81490 in April of 2020 and a record low of 30.60333 in July of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product - last updated from the United States Federal Reserve on July of 2025.

Key information about United States External Debt: % of GDP

• United States External Debt accounted for 93.7 % of the country's Nominal GDP in 2023, compared with the ratio of 94.4 % in the previous year.
• US External Debt: % of Nominal GDP data is updated yearly, available from Dec 2003 to Dec 2023.
• The data reached an all-time high of 100.0 % in Dec 2020 and a record low of 60.6 % in Dec 2003.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. The U.S. Department of the Treasury provides External Debt in USD based on BPM6. The Bureau of Economic Analysis provides Nominal GDP in USD. External Debt prior to 2014 is based on BPM5.


Related information about United States External Debt: % of GDP

• In the latest reports of US, Current Account recorded a deficit of 266.8 USD bn in Jun 2024.
• Foreign Direct Investment (FDI) increased by 93.6 USD bn in Jun 2024.
• US Direct Investment Abroad expanded by 56.2 USD bn in Jun 2024.
• Its Foreign Portfolio Investment increased by 258.7 USD bn in Jun 2024.
• The country's External Debt reached 26,467,035.0 in Mar 2024.
• The country's Nominal GDP was reported at 6,632.4 USD bn in Mar 2023.

U.S. Debt to GDP Ratio: 59 years of historical data from 1966 to 2025.

During the Great Recession of 2008-2009, the advanced economies of the G7 experienced a period of acute financial crises, downturns in the non-financial economy, and political instability. The governments of these countries in many cases stepped in to backstop their financial sectors and to try to stimulate their economies. The scale of these interventions was large by historical standards, with observers making comparisons to the measures of the New Deal which the U.S. undertook in the 1930s to end the Great Depression.

The bailouts of financial institutions and stimulus packages caused the government debt ratios of the United States, United Kingdom, and Japan in particular to rise sharply. The UK's government debt ratio almost doubled due to the bailouts of Northern Rock and Royal Bank of Scotland. On the other hand, the increases in government debt in the Eurozone were more measured, due to the comparative absence of stimulus spending in these countries. They would later be hit hard during the Eurozone crisis of the 2010s, when bank lending to the periphery of the Eurozone (Portugal, Spain, Ireland and Greece in particular) would trigger a sovereign debt crisis. The Canadian government, led by a Conservative premier, engaged in some fiscal stimulus to support its economy, but these packages were small in comparison to that in most other of the G7 countries.