100+ datasets found
  1. U.S. public debt 1990-2023

    • statista.com
    Updated Jul 5, 2024
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    Statista (2024). U.S. public debt 1990-2023 [Dataset]. https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/
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    Dataset updated
    Jul 5, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    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.

  2. U.S. interest expense on public debt 2012-2023

    • statista.com
    Updated Jul 5, 2024
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    Statista (2024). U.S. interest expense on public debt 2012-2023 [Dataset]. https://www.statista.com/statistics/246439/interest-expense-on-us-public-debt/
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    Dataset updated
    Jul 5, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    In 2023, the U.S. government spent a total of 875 billion U.S. dollars on interest of public debt. 497 billion U.S. dollars was on interest for debt held by the public.

    The national debt of the United Stated can be found here.

  3. Historical Debt Outstanding

    • fiscaldata.treasury.gov
    csv, json, xml
    Updated Apr 7, 2022
    + more versions
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    U.S. DEPARTMENT OF THE TREASURY (2022). Historical Debt Outstanding [Dataset]. https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/
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    xml, csv, jsonAvailable download formats
    Dataset updated
    Apr 7, 2022
    Dataset provided by
    United States Department of the Treasuryhttps://treasury.gov/
    Authors
    U.S. DEPARTMENT OF THE TREASURY
    Time period covered
    Jan 1, 1790 - Sep 30, 2024
    Description

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

  4. F

    Federal Debt: Total Public Debt

    • fred.stlouisfed.org
    json
    Updated Jun 3, 2025
    + more versions
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    (2025). Federal Debt: Total Public Debt [Dataset]. https://fred.stlouisfed.org/series/GFDEBTN
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    jsonAvailable download formats
    Dataset updated
    Jun 3, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Description

    Graph and download economic data for Federal Debt: Total Public Debt (GFDEBTN) from Q1 1966 to Q1 2025 about public, debt, federal, government, and USA.

  5. U.S. publicly held debt 2013-2024

    • statista.com
    Updated Nov 20, 2024
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    Statista (2024). U.S. publicly held debt 2013-2024 [Dataset]. https://www.statista.com/statistics/273294/public-debt-of-the-united-states-by-month/
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    Dataset updated
    Nov 20, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    Oct 2013 - Oct 2024
    Area covered
    United States
    Description

    In October 2024, the public debt of the United States was around 35.46 trillion U.S. dollars, a slight decrease from the previous month. The U.S. public debt ceiling has become one of the most prominent political issues in the States in recent years, with debate over how to handle it causing political turmoil between Democrats and Republicans. The public debt The public debt of the United States has risen quickly since 2000, and in 2022 was more than five times higher than in 2000. The public debt is the total outstanding debt that is owed by the federal government. This figure comprises debt owed to the public (for example, through bonds) and intergovernmental debt (debt owed to various governmental departments), such as Social Security. Debt in Politics The debt issue has become a highly contentious topic within the U.S. government. Measures such as stimulus packages, social programs and tax cuts add to the public debt. Additionally, spending tends to peak during large global events, such as the Great Depression, the 2008 financial crisis, or the COVID-19 pandemic - all of which had a detrimental impact on the U.S. economy. Although both major political parties in the U.S. tend to blame one another for increases in the country's debt, a recent analysis found that both parties have contributed almost equally to national expenditure. Debate on raising the debt ceiling, or the amount of debt the federal government is allowed to have at any one time, was a leading topic in the government shutdown in October 2013. Despite plans from both Democrats and Republicans on how to lower the national debt, it is only expected to increase over the next decade.

  6. T

    United States Gross Federal Debt to GDP

    • tradingeconomics.com
    • zh.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, United States Gross Federal Debt to GDP [Dataset]. https://tradingeconomics.com/united-states/government-debt-to-gdp
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    excel, json, xml, csvAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1940 - Dec 31, 2024
    Area covered
    United States
    Description

    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.

  7. National debt of China in relation to GDP 2010-2030

    • statista.com
    • ai-chatbox.pro
    Updated Apr 24, 2025
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    Statista (2025). National debt of China in relation to GDP 2010-2030 [Dataset]. https://www.statista.com/statistics/270329/national-debt-of-china-in-relation-to-gross-domestic-product-gdp/
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    Dataset updated
    Apr 24, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    China
    Description

    The graph shows national debt in China related to gross domestic product until 2024, with forecasts to 2030. In 2024, gross national debt ranged at around 88 percent of the national gross domestic product. The debt-to-GDP ratio In economics, the ratio between a country's government debt and its gross domestic product (GDP) is generally defined as the debt-to-GDP ratio. It is a useful indicator for investors to measure a country's ability to fulfill future payments on its debts. A low debt-to-GDP ratio also suggests that an economy produces and sells a sufficient amount of goods and services to pay back those debts. Among the important industrial and emerging countries, Japan displayed one of the highest debt-to-GDP ratios. In 2024, the estimated national debt of Japan amounted to about 250 percent of its GDP, up from around 180 percent in 2004. One reason behind Japan's high debt load lies in its low annual GDP growth rate. Development in China China's national debt related to GDP grew slowly but steadily from around 23 percent in 2000 to 34 percent in 2012, only disrupted by the global financial crisis in 2008. In recent years, China increased credit financing to spur economic growth, resulting in higher levels of debt. China's real estate crisis and a difficult global economic environment require further stimulating measures by the government and will predictably lead to even higher debt growth in the years ahead.

  8. T

    Nicaragua Government Debt

    • tradingeconomics.com
    • ko.tradingeconomics.com
    • +12more
    csv, excel, json, xml
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    TRADING ECONOMICS, Nicaragua Government Debt [Dataset]. https://tradingeconomics.com/nicaragua/government-debt
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    excel, json, csv, xmlAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 2012 - Mar 31, 2025
    Area covered
    Nicaragua
    Description

    Government Debt in Nicaragua increased to 379853.20 NIO Million in March from 373773.60 NIO Million in February of 2025. This dataset provides - Nicaragua Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

  9. T

    Nigeria Government Debt

    • tradingeconomics.com
    • zh.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, Nigeria Government Debt [Dataset]. https://tradingeconomics.com/nigeria/government-debt
    Explore at:
    csv, xml, excel, jsonAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 2012 - Mar 31, 2025
    Area covered
    Nigeria
    Description

    Government Debt in Nigeria increased to 97238.52 USD Million in the first quarter of 2025 from 94225.10 USD Million in the fourth quarter of 2024. This dataset provides - Nigeria Government Debt- actual values, historical data, forecast, chart, statistics, economic calendar and news.

  10. Central government debt (x 1,000,000)

    • www150.statcan.gc.ca
    Updated Jun 2, 2025
    + more versions
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    Government of Canada, Statistics Canada (2025). Central government debt (x 1,000,000) [Dataset]. http://doi.org/10.25318/1010000201-eng
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    Dataset updated
    Jun 2, 2025
    Dataset provided by
    Statistics Canadahttps://statcan.gc.ca/en
    Government of Canadahttp://www.gg.ca/
    Area covered
    Canada
    Description

    This table contains 29 series, with data for years 2009 - 2019 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada) Central government debt (29 items: A. Federal debt (accumulated deficit), (B - E); B. Net debt, (C - D); C. Liabilities, gross debt; Accounts payable and accrued liabilities; ...).

  11. Ukraine Government Debt: % of GDP

    • ceicdata.com
    • dr.ceicdata.com
    Updated Dec 15, 2023
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    CEICdata.com (2023). Ukraine Government Debt: % of GDP [Dataset]. https://www.ceicdata.com/en/indicator/ukraine/government-debt--of-nominal-gdp
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    Dataset updated
    Dec 15, 2023
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2021 - Dec 1, 2023
    Area covered
    Ukraine
    Description

    Key information about Ukraine Government Debt: % of GDP

    • Ukraine Government debt accounted for 79.4 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 72.8 % in the previous quarter.
    • Ukraine government debt to GDP ratio data is updated quarterly, available from Dec 2010 to Dec 2023.
    • The data reached an all-time high of 79.4 % in Dec 2023 and a record low of 27.3 % in Jun 2012.

    CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance of Ukraine provides Government Debt in local currency. The State Statistics Service of Ukraine provides Nominal GDP in local currency. Government Debt covers Central Government only.


    Related information about Ukraine Government Debt: % of GDP

    • In the latest reports, Ukraine National Government Debt reached 135.2 USD bn in Feb 2024.
    • The country's Nominal GDP reached 44.4 USD bn in Dec 2022.

  12. Ratio of national debt to GDP in Croatia 1998-2030

    • statista.com
    Updated Jun 18, 2025
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    Statista (2025). Ratio of national debt to GDP in Croatia 1998-2030 [Dataset]. https://www.statista.com/statistics/427224/national-debt-of-croatia-in-relation-to-gross-domestic-product-gdp/
    Explore at:
    Dataset updated
    Jun 18, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Croatia
    Description

    The ratio of national debt to gross domestic product (GDP) of Croatia was estimated at approximately 57.65 percent in 2024. Between 1998 and 2024, the ratio rose by around 34.32 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is expected to drop by about 3.63 percentage points between 2024 and 2030, showing a continuous downward movement throughout the period.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

  13. Argentina Government Debt: % of GDP

    • ceicdata.com
    Updated Jun 15, 2020
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    CEICdata.com, Argentina Government Debt: % of GDP [Dataset]. https://www.ceicdata.com/en/indicator/argentina/government-debt--of-nominal-gdp
    Explore at:
    Dataset updated
    Jun 15, 2020
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jun 1, 2020 - Mar 1, 2023
    Area covered
    Argentina
    Description

    Key information about Argentina Government Debt: % of GDP

    • Argentina Government debt accounted for 80.3 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 79.5 % in the previous quarter.
    • Argentina government debt to GDP ratio data is updated quarterly, available from Dec 2004 to Mar 2023.
    • The data reached an all-time high of 116.8 % in Dec 2004 and a record low of 33.9 % in Jun 2012.

    CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and quarterly Nominal GDP. The Ministry of Treasury provides Government Debt in USD. The National Institute of Statistics and Censuses provides annualized Nominal GDP in local currency. The Central Bank of Argentina average market exchange rate is used for currency conversions. Government Debt excludes debt swaps.


    Related information about Argentina Government Debt: % of GDP

    • In the latest reports, Argentina National Government Debt reached 398.2 USD bn in Mar 2023.
    • The country's Nominal GDP reached 150.8 USD bn in Mar 2023.

  14. United States Federal Debt: Public Debt Securities: Interest Expenses

    • ceicdata.com
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    CEICdata.com (2021). United States Federal Debt: Public Debt Securities: Interest Expenses [Dataset]. https://www.ceicdata.com/en/united-states/federal-debt/federal-debt-public-debt-securities-interest-expenses
    Explore at:
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    May 1, 2017 - Apr 1, 2018
    Area covered
    United States
    Variables measured
    Public Sector Debt
    Description

    United States Federal Debt: Public Debt Securities: Interest Expenses data was reported at 31.648 USD bn in Oct 2018. This records an increase from the previous number of 28.981 USD bn for Sep 2018. United States Federal Debt: Public Debt Securities: Interest Expenses data is updated monthly, averaging 22.310 USD bn from Oct 1997 (Median) to Oct 2018, with 253 observations. The data reached an all-time high of 110.973 USD bn in Jun 2008 and a record low of -52.817 USD bn in Jul 2012. United States Federal Debt: Public Debt Securities: Interest Expenses data remains active status in CEIC and is reported by Bureau of the Fiscal Service. The data is categorized under Global Database’s United States – Table US.F004: Federal Debt. A onetime adjustment of $75 USD BN decreased the interest expense on public debt data for the month of July 2012 causing the value to be negative. Adjustment was made due to the change in the accounting method for the Department of Defense (DOD) market based securities.

  15. T

    Ghana Government Debt to GDP

    • tradingeconomics.com
    • ar.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, Ghana Government Debt to GDP [Dataset]. https://tradingeconomics.com/ghana/government-debt-to-gdp
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    xml, json, excel, csvAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1990 - Dec 31, 2024
    Area covered
    Ghana
    Description

    Ghana recorded a Government Debt to GDP of 70.50 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Ghana Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  16. T

    Greece Government Debt to GDP

    • tradingeconomics.com
    • id.tradingeconomics.com
    • +13more
    csv, excel, json, xml
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    TRADING ECONOMICS, Greece Government Debt to GDP [Dataset]. https://tradingeconomics.com/greece/government-debt-to-gdp
    Explore at:
    json, xml, csv, excelAvailable download formats
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 1980 - Dec 31, 2024
    Area covered
    Greece
    Description

    Greece recorded a Government Debt to GDP of 153.60 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Greece Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

  17. Serbia Government Debt: % of GDP

    • ceicdata.com
    • dr.ceicdata.com
    Updated Feb 19, 2025
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    CEICdata.com (2025). Serbia Government Debt: % of GDP [Dataset]. https://www.ceicdata.com/en/indicator/serbia/government-debt--of-nominal-gdp
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    Dataset updated
    Feb 19, 2025
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2022 - Dec 1, 2024
    Area covered
    Serbia
    Description

    Key information about Serbia Government Debt: % of GDP

    • Serbia Government debt accounted for 47.2 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 47.4 % in the previous quarter.
    • Serbia government debt to GDP ratio data is updated quarterly, available from Sep 2004 to Dec 2024.
    • The data reached an all-time high of 67.3 % in Mar 2015 and a record low of 22.8 % in Sep 2008.

    CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance and Economy provides Government Debt in EUR. The Statistical Office of the Republic of Serbia provides Nominal GDP in local currency. The Federal Reserve Board and National Bank of Serbia average market exchange rates are used for currency conversions.


    Related information about Serbia Government Debt: % of GDP

    • In the latest reports, Serbia National Government Debt reached 40.2 USD bn in Dec 2024.
    • The country's Nominal GDP reached 16.1 USD bn in Mar 2023.

  18. L

    Liechtenstein Government debt - data, chart | TheGlobalEconomy.com

    • theglobaleconomy.com
    csv, excel, xml
    Updated Feb 24, 2018
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    Globalen LLC (2018). Liechtenstein Government debt - data, chart | TheGlobalEconomy.com [Dataset]. www.theglobaleconomy.com/Liechtenstein/Government_debt/
    Explore at:
    excel, csv, xmlAvailable download formats
    Dataset updated
    Feb 24, 2018
    Dataset authored and provided by
    Globalen LLC
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 31, 2011 - Dec 31, 2022
    Area covered
    Liechtenstein
    Description

    Liechtenstein: Government debt as percent of GDP: The latest value from 2022 is 0.5 percent, unchanged from 0.5 percent in 2021. In comparison, the world average is 59.99 percent, based on data from 174 countries. Historically, the average for Liechtenstein from 2011 to 2022 is 0.5 percent. The minimum value, 0.4 percent, was reached in 2011 while the maximum of 0.6 percent was recorded in 2012.

  19. Taiwan Government Debt: % of GDP

    • ceicdata.com
    Updated May 15, 2023
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    CEICdata.com (2023). Taiwan Government Debt: % of GDP [Dataset]. https://www.ceicdata.com/en/indicator/taiwan/government-debt--of-nominal-gdp
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    Dataset updated
    May 15, 2023
    Dataset provided by
    CEIC Data
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2012 - Dec 1, 2023
    Area covered
    Taiwan
    Description

    Key information about Taiwan Government Debt: % of GDP

    • Taiwan Government debt accounted for 29.0 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 29.5 % in the previous year.
    • Taiwan government debt to GDP ratio data is updated yearly, available from Dec 1996 to Dec 2023.
    • The data reached an all-time high of 39.2 % in Dec 2012 and a record low of 23.7 % in Dec 1998.

    CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in local currency. Government Debt covers Non Self-Redeeming Debt with Maturity of One Year and Above.


    Related information about Taiwan Government Debt: % of GDP

    • In the latest reports, Taiwan National Government Debt reached 223.8 USD bn in Dec 2023.
    • The country's Nominal GDP reached 185.2 USD bn in Mar 2023.

  20. C

    China Government Debt Outstanding(including Contingent Liability)

    • ceicdata.com
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    CEICdata.com, China Government Debt Outstanding(including Contingent Liability) [Dataset]. https://www.ceicdata.com/en/china/government-debt-national-audit-office/government-debt-outstandingincluding-contingent-liability
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    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Dec 1, 2012 - Jun 1, 2013
    Area covered
    China
    Variables measured
    Public Sector Debt
    Description

    China Government Debt Outstanding(including Contingent Liability) data was reported at 30,274,970.000 RMB mn in Jun 2013. This records an increase from the previous number of 27,769,191.000 RMB mn for Dec 2012. China Government Debt Outstanding(including Contingent Liability) data is updated semiannually, averaging 29,022,080.500 RMB mn from Dec 2012 (Median) to Jun 2013, with 2 observations. The data reached an all-time high of 30,274,970.000 RMB mn in Jun 2013 and a record low of 27,769,191.000 RMB mn in Dec 2012. China Government Debt Outstanding(including Contingent Liability) data remains active status in CEIC and is reported by National Audit Office. The data is categorized under China Premium Database’s Government and Public Finance – Table CN.FA: Government Debt: National Audit Office.

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Statista (2024). U.S. public debt 1990-2023 [Dataset]. https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/
Organization logo

U.S. public debt 1990-2023

Explore at:
11 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Jul 5, 2024
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
United States
Description

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.

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