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 first quarter of 2024, household debt in the United States amounted to over 71 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 2022, 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 Hungary Household Debt: % of GDP

• Hungary household debt accounted for 20.4 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 19.9 % in the previous quarter.
• Hungary household debt to GDP ratio is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 45.4 % in Jun 2010 and a record low of 8.4 % in Mar 1999.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Magyar Nemzeti Bank provides Household Debt in local currency. Hungarian Central Statistical Office provides Nominal GDP in local currency.


Related information about Hungary Household Debt: % of GDP

• In the latest reports, Hungary Household Debt reached 44.6 USD bn in Sep 2024.
• Money Supply M2 in Hungary increased 7.7 % YoY in Dec 2024.
• Hungary Foreign Exchange Reserves was measured at 36.6 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 3.2 Months of Import in Jan 2025.
• Hungary Domestic Credit reached 117.4 USD bn in Dec 2024, representing an increased of 10.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.7 % in Sep 2024, compared with the ratio of 1.8 % in the previous quarter.

Households Debt in China decreased to 60.10 percent of GDP in the third quarter of 2024 from 60.40 percent of GDP in the second quarter of 2024. This dataset provides - China Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022, the value of the lending to households in Switzerland as a share of its gross domestic product (GDP) was higher than in any of the countries selected here. Australian, Canadian, and South Korean households had an amount of credit which was higher than the overall size of their economy. That year, household lending in Argentina amounted to 4 percent of its GDP, which was the lowest figure in the ranking.

What is the household debt?

Household debt, also known as family debt, includes loans taken to pay for the home or other property, education, vehicles, and other expenses. The largest component of this is mortgage debt, which is seen by many as a way to build long-term equity. As such, households are willing to take on a large amount of this debt with the goal of owning an asset that holds value and can be used as a residence in the meantime.

The cost of debt

The cost of a loan depends on a number of factors such as the interest rate, borrower’s credit risk or time period of a loan. The value of mortgage and the rate of return on assets such as real estate also depend largely on geographic location. The highest borrowers in this statistic are likely living in countries where credit is affordable and expected returns are relatively high, incentivizing heavy borrowing.

Key information about Romania Household Debt: % of GDP

• Romania household debt accounted for 15.4 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 15.3 % in the previous quarter.
• Romania household debt to GDP ratio is updated quarterly, available from Mar 2007 to Sep 2024.
• The data reached an all-time high of 26.5 % in Jun 2010 and a record low of 15.3 % in Sep 2023.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The National Bank of Romania provides Household Debt in local currency. The National Institute of Statistics provides Nominal GDP in local currency.


Related information about Romania Household Debt: % of GDP

• In the latest reports, Romania Household Debt reached 59.7 USD bn in Sep 2024.
• Money Supply M2 in Romania increased 10.3 % YoY in Oct 2024.
• Romania Foreign Exchange Reserves was measured at 60.8 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 5.1 Months of Import in Nov 2024.
• Romania Domestic Credit reached 140.8 USD bn in Oct 2024, representing an increased of 13.8 % YoY.
• The country's Non Performing Loans Ratio stood at 2.5 % in Oct 2024, compared with the ratio of 2.5 % in the previous month.

Households Debt In the Euro Area decreased to 51.80 percent of GDP in the third quarter of 2024 from 52.10 percent of GDP in the second quarter of 2024. This dataset provides - Euro Area Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022, South Korea's household debt accounted for about 105.1 percent of its gross domestic product (GDP). While the household debt-to-GDP ratio has decreased compared to the previous year, it remains very high in international comparisons.

Households Debt in India decreased to 42.10 percent of GDP in the third quarter of 2024 from 42.30 percent of GDP in the second quarter of 2024. This dataset provides - India Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in Greece decreased to 39.30 percent of GDP in the third quarter of 2024 from 39.80 percent of GDP in the second quarter of 2024. This dataset provides - Greece Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about South Korea Household Debt: % of GDP

• South Korea household debt accounted for 93.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 93.9 % in the previous quarter.
• South Korea household debt to GDP ratio is updated quarterly, available from Dec 2002 to Sep 2024.
• The data reached an all-time high of 101.9 % in Sep 2021 and a record low of 61.4 % in Mar 2005.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Bank of Korea provides Household Debt in local currency and Nominal GDP in local currency, based on SNA 2008. Household Debt includes NPISH. Household Debt prior to Q4 2008 is based on SNA 1993.


Related information about South Korea Household Debt: % of GDP

• In the latest reports, South Korea Household Debt reached 1,742.9 USD bn in Mar 2023.
• Money Supply M2 in South Korea increased 6.7 % YoY in Sep 2024.
• South Korea Foreign Exchange Reserves was measured at 391.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 7.1 Months of Import in Dec 2024.
• South Korea Domestic Credit reached 3,624.4 USD bn in Sep 2024, representing an increased of 5.3 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Sep 2024, compared with the ratio of 0.4 % in the previous quarter.

Graph and download economic data for Household Debt to GDP for Spain (HDTGPDESA163N) from 1999 to 2023 about Spain, debt, households, and GDP.

Households Debt in Canada increased to 100.39 percent of GDP in the fourth quarter of 2024 from 100.32 percent of GDP in the third quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, household debt in Thailand amounted to over 90 percent of its GDP. The debt of households peaked in 2021, reaching the highest value since 2013.

Households Debt in Poland decreased to 23.30 percent of GDP in the third quarter of 2024 from 23.40 percent of GDP in the second quarter of 2024. This dataset provides - Poland Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in Denmark remained unchanged at 87 percent of GDP in the third quarter of 2024 from 87 percent of GDP in the second quarter of 2024. This dataset provides - Denmark Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Household debt to GDP, in percent in India, June, 2024 The most recent value is 42.9 percent as of June 2024, an increase compared to the previous value of 42.7 percent. Historically, the average for India from June 2007 to June 2024 is 37.47 percent. The minimum of 31.9 percent was recorded in September 2016, while the maximum of 44.7 percent was reached in September 2007. | TheGlobalEconomy.com

In 2022, household debt in Japan accounted for 68.4 percent of the gross domestic product (GDP). The share increased from 68 percent in the previous year.

 Household debt 

Total household financial liabilities rose to around 382.9 trillion Japanese yen in the second quarter of 2023, most of which comprised housing loans. A distribution of financial liabilities held by multi-person households revealed that loans taken out for the purchase of homes and land were the primary reason for an increase in the average amount of liabilities per household in recent years. The average amount of financial liabilities per multi-person household decreased proportionally with increasing age: household debt reached the highest levels among households with a household head aged below 40 years, while households headed by over 70-year-olds reported the lowest amount of outstanding debt.

 Regional disparities 

A closer look at the geographical distribution of household debt revealed large disparities across different regions in the country: at 6.65 million yen, financial liabilities per multi-person household were highest in the Kanto region, which is home to Japan’s capital Tokyo where a large proportion of the Japanese workforce is concentrated. At the same time, the average household debt in Okinawa, the southernmost region of Japan, was 4.32 million yen.

In 2022, Switzerland was one of the European countries with the most indebted households. The value of credit to Swiss households amounted to 128 percent of the country's GDP. The rest of the European countries included here had a share of less than 92 percent. Meanwhile, lending to households in Turkey and Hungary made up less than 20 percent of their GDP.