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.

This statistic shows the national debt of the European Union and the euro area in relation to the gross domestic product (GDP) from 2020 to 2024, with projections up until 2030. In 2024, the national debt of the European Union amounted to approximately 82.5 percent of the gross domestic product.

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.

Graph and download economic data for Central government debt, total (% of GDP) for the Euro Area (GCDODTOTLGDZSEMU) from 1998 to 2022 about Euro Area, Europe, debt, government, and GDP.

Key information about European Union Government Debt: % of GDP

• European Union Government debt accounted for 81.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 81.5 % in the previous quarter.
• EU government debt to GDP ratio data is updated quarterly, available from Mar 2000 to Sep 2024.
• The data reached an all-time high of 91.5 % in Mar 2021 and a record low of 62.4 % in Dec 2007.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. Eurostat provides Government Debt in EUR and Nominal GDP in EUR. European Union stands for EU27 excluding UK.


Related information about European Union Government Debt: % of GDP

• In the latest reports, EU National Government Debt reached 16,136.9 USD bn in Sep 2024.
• The country's Nominal GDP reached 4,430.4 USD bn in Mar 2023.

Długospołeczne w strefie euro zmniejszyły się do 51,50% PKB w czwartym kwartale 2024 r. z poziomu 51,70% PKB w trzecim kwartale 2024 r. Ta strona zawiera - Dług gospodarstw domowych strefy euro do PKB - wartości aktualne, dane historyczne, prognozy, wykres, statystyki, kalendarz ekonomiczny i wiadomości.

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.

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.

Key information about European Union External Debt: % of GDP

• European Union External Debt accounted for 111.1 % of the country's Nominal GDP in 2023, compared with the ratio of 118.2 % in the previous year.
• EU External Debt: % of Nominal GDP data is updated yearly, available from Dec 2008 to Dec 2023.
• The data reached an all-time high of 136.7 % in Dec 2015 and a record low of 111.1 % in Dec 2023.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and quarterly Nominal GDP. European Central Bank provides External Debt in EUR. Eurostat provides Nominal GDP in EUR. External Debt as % of Nominal GDP covers Euro Area 20. External Debt as % of Nominal GDP prior to 2013 covers Euro Area 19.


Related information about European Union External Debt: % of GDP

• In the latest reports of EU, Current Account recorded a surplus of 133.2 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 4.8 USD bn in Nov 2024.
• EU Direct Investment Abroad expanded by 7.2 USD bn in Nov 2024.
• Its Foreign Portfolio Investment increased by 239.3 USD bn in Sep 2024.
• The country's External Debt reached 18,601,546.0 in Sep 2024.
• The country's Nominal GDP was reported at 4,430.4 USD bn in Mar 2023.

Graph and download economic data for Gross Portfolio Debt Liabilities to GDP for Euro Area (DISCONTINUED) (DDDM10EZA156NWDB) from 1999 to 2015 about Euro Area, liabilities, Europe, gross, debt, and GDP.

Several European Union member states have struggled with high levels of public debt in the period since the Global Financial Crisis. In particular, Greece's debt skyrocketed during the recession which followed the crisis, culminating in a period of intense political and social upheaval during the early 2010s in which the country came close to having to leave the Euro single currency zone. Along with Italy, Portugal, Spain and France, Greece is part of a group of EU members who have seen their debt soar to a value worth over one year's aggregate production in their economies (i.e. 100% of GDP) due to slow economic growth coupled with increasing public liabilities due to the need to provide emergency support to their domestic financial systems. Belgium, while also a part of this group of high-debt ratio countries has quite different circumstances, as its debt ratio has in fact fallen since the 1990s, remaining 20 percent below its 1995 level, even after a spike due to the COVID-19 pandemic.

Graph and download economic data for Outstanding Domestic Public Debt Securities to GDP for Euro Area (DISCONTINUED) (DDDM04EZA156NWDB) from 1990 to 2011 about public, Euro Area, Europe, debt, securities, domestic, and GDP.

This statistic shows a comparison of the gross domestic product (GDP) and the national debt in selected euro area countries in 2024. In 2024, Italy's GDP amounted to approximately 2.19 trillion euros, while its national debt amounted to approximately 2.97 trillion euros.

Euro area: Government debt as percent of GDP: The latest value from 2023 is 88.6 percent, a decline from 90.8 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Euro area from 1995 to 2023 is 80.17 percent. The minimum value, 66.1 percent, was reached in 2007 while the maximum of 97.2 percent was recorded in 2020.

Key information about European Union Total Debt: % of GDP

• European Union Total Debt accounted for 719.1 % of the country's GDP in 2022, compared with the ratio of 797.7 % in the previous year.
• EU Total Debt: % of GDP data is updated yearly, available from Dec 2001 to Dec 2022.
• The data reached an all-time high of 815.6 % in Dec 2020 and a record low of 547.8 % in Dec 2001.

CEIC calculates annual Total Debt as % of Nominal GDP from annual Total Debt and quarterly Nominal GDP. Total Debt is calculated as the Total Liabilities less Equity & Investment Fund Shares and Financial Derivatives. Eurostat provides Total Debt in EUR and Nominal GDP in EUR. European Union stands for EU27 excluding UK.

Euro Area - Government deficit/surplus, debt and associated data was 87.40 % of GDP in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - Government deficit/surplus, debt and associated data - last updated from the EUROSTAT on July of 2025. Historically, Euro Area - Government deficit/surplus, debt and associated data reached a record high of 96.50 % of GDP in December of 2020 and a record low of 65.90 % of GDP in December of 2007.

Euro Area - General gov. gross debt was 87.50 % of GDP in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Euro Area - General gov. gross debt - last updated from the EUROSTAT on June of 2025. Historically, Euro Area - General gov. gross debt reached a record high of 99.50 % of GDP in March of 2021 and a record low of 83.90 % of GDP in December of 2019.

The statistic shows the growth of the real gross domestic product (GDP) in the European Union and the Euro area from 2019 to 2023, with projections up until 2029. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. In 2022, the GDP in the European Union increased by about 3.61 percent compared to the previous year. Growth trends in the EU compared to the euro area The euro area, which is also called the eurozone, is an economic and monetary union (EMU) which includes 19 of the 27 European Union member states which have formally adopted the euro. Those countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. Member states which have not yet adopted the euro include Bulgaria, Croatia, Czechia, Denmark, Hungary, Poland, Romania, Sweden and the United Kingdom. Additionally, there is the so-called Schengen Area, which is composed of EU and non-EU states, and has been established mainly to facilitate travelling in Europe. While some countries, such as Kosovo and Montenegro have adopted the euro unilaterally, they are not formally part of the eurozone. Others have established a monetary agreement with the EU to use the euro, such as Andorra, Monaco, San Marino and the Vatican, but they do not form part of the official euro area. As can be seen in the chart, annual GDP growth slumped in 2012 and 2013, presumably as a result of the global financial crisis, in both the EU and the euro area. In 2013, growth began increasing ever so slightly and in 2014 the EU regained a bit of stability. However, overall recovery in the EU has been relatively moderate and gradual; growth throughout the EU has been slightly better than in the euro area and is projected to remain slightly better for the foreseeable future. Relatively new member states such as Romania and Czechia, which have not yet adopted the euro, reported the highest annual growth rates in the EU in 2015, and generally, new member states show slightly better growth rates. Also, unemployment has been slightly higher in the euro area compared to the EU for the last ten years (267906). The unemployment rate also remains relatively high for both the EU and the euro area. As for public spending as a share of GDP, these figures are slightly higher in the euro area than in the EU as a whole. The member states with the highest national debt include the United Kingdom, Italy, France and Germany - some of the oldest members of the euro area. The national debt of the euro area is slightly higher than the national debt of the EU as a whole, underlining the economic situation of both areas.

This dataset provides values for PRIVATE 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.

Key information about European Union Household Debt: % of GDP

• European Union household debt accounted for 44.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 44.4 % in the previous quarter.
• EU household debt to GDP ratio is updated quarterly, available from Sep 1997 to Dec 2024.
• The data reached an all-time high of 54.2 % in Jun 2010 and a record low of 38.9 % in Sep 1997.

CEIC calculates quarterly Household Debt as % of Nominal GDP from monthly Household Debt and quarterly Nominal GDP. European Central Bank provides Household Debt in EUR. Eurostat provides Nominal GDP in EUR. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Mortgages and Consumer Loans.


Related information about European Union Household Debt: % of GDP

• In the latest reports, EU Household Debt reached 6,956.2 USD bn in Jan 2025.
• Money Supply M2 in EU increased 3.3 % YoY in Jan 2025.
• EU Foreign Exchange Reserves was measured at 297.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Dec 2024.
• EU Domestic Credit reached 25,135.4 USD bn in Dec 2024, representing an increased of 2.7 % YoY.