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.

Graph and download economic data for Gross Federal Debt (FYGFD) from 1939 to 2023 about gross, debt, federal, and USA.

This statistic shows the national debt of the United Kingdom from 2019 to 2023, with projections up until 2029. In 2023, the national debt in the United Kingdom was about 3.32 trillion U.S. dollars. Reduction of the national debt and recovery of the economy in the UK The debt of the United Kingdom, which amounted to around 1,600 billion pounds in 2014 - more than it has ever been - is projected to keep rising. Since the economic recession of 2007-08, economic growth in the United Kingdom has been slow, but it has been able to recover. In 2014, the United Kingdom recorded a 2.8 percent growth rate. Many believe that if the economy is stable, the government will reduce spending and not accrue any more debt, and it can indeed be seen that while government spending continues to increase, the gap between spending and revenue is projected to get smaller. If the government were to earn more than it spends, it could use the money left over to pay the national debt and start to reduce it. However, what is even more important is the size of the debt in relation to the size of the country's economy; if the debt grows slower than the economy, the debt to GDP ratio can still fall, despite a budget deficit. The ratio of government expenditure to GDP indicates that the economy is recovering at a faster rate than government expenditure, with the ratio decreasing significantly over the last decade and the national debt in relation to GDP being expected to decrease further as well - albeit slowly. This should help relieve concerns over the United Kingdom’s mounting debt, but for some debt reduction is just not fast enough.

The United States recorded a Government Debt to GDP of 122.30 percent of the country's Gross Domestic Product in 2023. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

In 2023, the national debt of India amounted to around 2.83 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

The statistic shows Japan's national debt from 2019 to 2022 in relation to gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of Japan amounted to about 256.3 percent of the gross domestic product. An eye on Japan’s national debt Japan’s national debt ranks first among countries with the highest debt levels in the world, far surpassing the debt levels of Greece - which ranks number two - whose financial crisis has been in the spotlight recently. Italy is third, followed by Jamaica, Lebanon and Enritrea. Currently, Japan’s national debt amounts more than a thousand trillion yen and the country’s debt is predicted to keep rising for the foreseeable future, albeit only slightly. Japan’s national debt is not without consequence for the global economy, because the country claims the fourth-largest share in global gross domestic product. Therefore, the effects on the global economy would and could have a much greater global impact than that of a country such as Greece - considering its share of the global economy adjusted for purchase power parity was less than 0.29 percent in 2011. The debt levels of China, the United States and India should also be watched closely as they together make up the largest share of global GDP. At the moment, Japan’s inflation rate is among the lowest in the world, but as Japan attempts to reduce its national debt, this could change.

The national debt in Argentina was forecast to continuously increase between 2024 and 2029 by in total 602.4 billion U.S. dollars (+104.78 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 1.2 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.The indicator describes the general government gross debt which 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.Find more key insights for the national debt in countries like Uruguay, Chile, and Paraguay.

AFCC Debt Settlement operates in a substantial and rapidly growing market for debt settlement services. The global debt settlement market, valued at USD 388.4 million in 2025, is projected to reach USD XX billion by 2033, registering a CAGR of XX% during the forecast period. This growth is driven by increasing consumer debt levels, rising interest rates, and the proliferation of financial products. The market is segmented based on type (credit card loan, medical loan, private student loan, others), application (open-end loan, closed-end loan), and region (North America, South America, Europe, Middle East & Africa, Asia Pacific). Key industry players include Freedom Debt Relief, Rescue One Financial, National Debt Relief, ClearOne Advantage, and Century Support Services. Several factors contribute to the market's growth. Consumers are facing higher levels of debt due to factors such as job loss, medical expenses, and overspending. At the same time, interest rates are rising, making it more expensive for consumers to repay their debts. This has led to an increased demand for debt settlement services, which can help consumers reduce their debt burden and improve their financial health. Additionally, the increasing availability of financial products, such as credit cards and personal loans, has contributed to the growth of the market. These products can be helpful when used responsibly, but they can also lead to excessive debt if not managed properly. As a result, the demand for debt settlement services is expected to remain strong in the years to come.

Government debt in the United Kingdom reached over 2.9 trillion British pounds in 2023/24, compared with 1.9 trillion pounds in 2019/20. Although the amount of public sector debt has been rising for some time, there was a noticeable uptick between 2019/20 and 2020/21, when government spending increased substantially due to the economic impact of the COVID-19 pandemic.

In the fiscal year of 2024, Illinois' state debt stood at about 69.79 billion U.S. dollars. Comparatively, the state's debt was approximately 28.83 billion U.S. dollars in 2000. The national debt of the United Stated can be found here.

This statistic shows the national debt of Greece from 2019 to 2023, with projections until 2029. In 2023, the national debt in Greece was around 382.04 billion U.S. dollars. In a ranking of debt to GDP per country, Greece is currently ranked third. Greece's struggle after the financial crisis Greece is a developed country in the EU and is highly dependent on its service sector as well as its tourism sector in order to gain profits. After going through a large economic boom from the 1950s to the 1970s as well as somewhat high GDP growth in the early to mid 2000s, Greece’s economy took a turn for the worse and struggled intensively, primarily due to the Great Recession, the Euro crisis as well as its own debt crisis. National debt within the country saw significant gains over the past decades, however roughly came to a halt due to financial rescue packages issued from the European Union in order to help Greece maintain and improve their economical situation. The nation’s continuous rise in debt has overwhelmed its estimated GDP over the years, which can be attributed to poor government execution and unnecessary spending. Large sums of financial aid were taken from major European banks to help balance out these government-induced failures and to potentially help refuel the economy to encourage more spending, which in turn would decrease the country’s continuously rising unemployment rate. Investors, consumers and workers alike are struggling to see a bright future in Greece, whose chances of an economic comeback are much lower than that of other struggling countries such as Portugal and Italy. However, Greece's financial situation might improve in the future, as it is estimated that at least its national debt will decrease - slowly, but steadily. Still, since its future participation in the European Union is in limbo as of now, these figures can only be estimates, not predictions.

The global student debt recovery services market is projected to reach $12.5 billion by 2033, expanding at a CAGR of 6.2% from 2025 to 2033. The market growth is primarily driven by the increasing student loan defaults, rising tuition fees, and government initiatives to reduce student debt. Furthermore, the growing awareness of student debt recovery services among educational institutions, lenders, and government agencies is expected to drive market expansion. The segment of tuition fee loan recovery services held the largest market share in 2025 and is expected to maintain its dominance throughout the forecast period. This segment's growth is attributed to the increasing number of student loan defaults and the growing demand for specialized services to recover tuition fees from delinquent borrowers. Additionally, the living expenses loan recovery services segment is expected to witness significant growth due to the increasing cost of living and the rising number of students relying on loans to cover their living expenses.

Public sector net debt amounted to 88.9 percent of gross domestic product in the United Kingdom during the 2023/24 financial year, rising to 97.8 percent when the Bank of England is included. This is the highest debt incurred by the government since the early 1960s. After peaking at 251.7 percent shortly after the end of the Second World War, government debt in the UK gradually fell, before a sharp increase in the late 2000s at the time of the global financial crisis. Debt not expected to start falling until 2029/30 In 2022/23, the UK's government expenditure was approximately 1.15 trillion pounds, around 45.3 percent of GDP. This spending was financed by 1.02 trillion pounds of revenue raised, and 1.28 billion pounds of borrowing. Although the UK government can still borrow money in the future, it also needs to abide by certain fiscal rules, one of which is that debt should be falling within a five-year timeframe. Recent forecasts suggest that while this is expected to be the case, it is based on falling government deficits in the next five years. Next government faces hard choices Whoever wins the UK's 2024 general election will face tough economic choices in the coming years. Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books, and possibly the need for either spending cuts or tax rises. The two major parties, Labour and the Conservatives, have both ruled out raising the main government tax sources, Income Tax, National Insurance, and VAT, and have so far remained silent on possible spending cuts. With limits on borrowing, and no tax rises or spending cuts, maintaining, let alone improving public services, will prove a challenging prospect for the next government.

This graph shows the state debt per capita in the United States for the 2013 fiscal year. In 2013, the state of Alabama had a total per capita debt of 14,173 U.S. dollars. Average state debt per capita amounted to 16,178 U.S. dollars.

The national debt of the United Stated can be found here. State debt National debts, also known as public debt and government debt, are the amount of money borrowed by states to cover their budget deficits. Nearly all governments use the debt method to finance operations and projects. Government debt can be seen as an indirect debt on taxpayers.

The public debt of the United States has been rising steadily for the last decades from 3,233.31 billion U.S. dollars in 1990 to 17,156.12 billion U.S dollars in 2013.

Although the United States’ debt is significantly high, the country with the highest public debt in 2014, in relation to the gross domestic product (GDP), was Japan. Japan had an estimated debt of about 246.16 percent in relation to the gross domestic product, according to IMF data. Nigeria was among the countries with the lowest national debt in 2014 in relation to the gross domestic product (GDP), with an estimated level of national debt reached about 15.91 percent of the GDP.

Much of the U.S. public debt is held by foreign investors, debt holders like nations or institutions which lent money to the United States. About 47 percent of the U.S. public debt is hold by foreign investors, while the Federal Reserve Bank holds 10 percent of the U.S public debt. As of August 2014, China and Japan are the major foreign holders of U.S. treasury debt. According to the Federal Reserve and U.S. Department of the Treasury, China held 1,270.9 billion U.S. dollars, while Japan held 1,220.1 billion U.S. dollars.

This statistic shows the national debt in the member states of the European Union in the second quarter of 2024. The data refer to the entire state and are comprised of the debts of central government, provinces, municipalities, local authorities and social security. In the second quarter of 2024, Greece's national debt amounted to about 369.4 billion euros. National debt in the EU member states National or government debt is the debt owed by a central government. No country in the European Union is debt-free, although some are able to manage their debts better than others. Debt is influenced by the economic situation of a country, factors such as unemployment, the rate of inflation or the trade figures have a significant impact on its extent, and are, in turn, influenced by the national debt. The economic crisis has hit some EU countries harder than others; Spain, Ireland and Greece especially have been struggling economically since 2008. Greece’s national debt has skyrocketed over the past few years, and the same can be said about Spain and Ireland. Other EU countries, like France and the United Kingdom have been affected as well, albeit not as severely. The national debt of a country can be reduced by applying several measures: money can be borrowed (for example in the form of rescue packages), austerity programs can be enforced, taxes can be increased or central banks can inject liquidity into the economy through the implementation of quantitative easing policies. Some critics of the policy claim that this could lead to a higher level of inflation, which, if severe enough, could have a detrimental impact on living standards.

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.

Global public debt increased steadily since 2010, almost doubling from 2010 to 2023. Global public debt in the United States alone stood at 33 trillion dollars. The rising global public debt is driven by increasing inflation and slowing economic growth.

The value of global debt increased from 285 trillion U.S. dollars in the first quarter of 2022 to 315 trillion U.S. dollars in the same quarter of 2024. Since the start of the COVID-19 pandemic, global debt has skyrocketed. The value of global debt in Q1 2024 was more than three times the value of the global GDP.

Credit card debt in the United States has been growing at a fast pace between 2021 and 2024. In the third quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from 927 billion U.S. dollars in the last quarter of 2019 to 770 billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2024. That year, the penetration rate of credit cards in the United States was 67 percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2023, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.