Graph and download economic data for Gross Federal Debt Held by the Public as Percent of Gross Domestic Product (FYPUGDA188S) from 1939 to 2023 about public, gross, debt, federal, GDP, and USA.

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.

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.

The statistic shows the gross national debt of the United States from 2019 to 2024 in relation to the gross domestic product (GDP), with projections up until 2030. In 2024, the national debt of the United States was at around 120.79 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.

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.

The ratio of national debt to gross domestic product (GDP) of France was estimated at about 113.11 percent in 2024. Between 1980 and 2024, the ratio rose by approximately 91.81 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio will steadily rise by around 15.28 percentage points over the period from 2024 to 2030, reflecting a clear upward trend.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.

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.

Graph and download economic data for Federal Surplus or Deficit [-] as Percent of Gross Domestic Product (FYFSGDA188S) from 1929 to 2024 about budget, federal, GDP, and USA.

Canada recorded a Government Debt to GDP of 110.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The ratio of national debt to gross domestic product (GDP) of Canada was approximately 110.77 percent in 2024. Between 1980 and 2024, the ratio rose by around 66.18 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is forecast to decline by about 6.66 percentage points from 2024 to 2030, fluctuating as it trends downward.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.

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.

Russia recorded a Government Debt to GDP of 16.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Key information about Canada Government Debt: % of GDP

• Canada Government debt accounted for 69.4 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 66.9 % in the previous year.
• Canada government debt to GDP ratio data is updated yearly, available from Mar 1962 to Mar 2024.
• The data reached an all-time high of 83.6 % in Mar 1996 and a record low of 33.1 % in Mar 1977.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and quarterly Nominal GDP. The Department of Finance Canada provides Government Debt in local currency. Statistics Canada provides Nominal GDP in local currency based on CSNA 2012/SNA 2008. Government Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about Canada Government Debt: % of GDP

• In the latest reports, Canada National Government Debt reached 1,519.8 USD bn in Mar 2024.
• The country's Nominal GDP reached 520.3 USD bn in Mar 2023.

In 2024, the ratio of national debt to gross domestic product (GDP) of Ireland was estimated at approximately 41.11 percent. Between 1995 and 2024, the figure dropped by around 37.41 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the ratio will steadily decline by about 13.15 percentage points from 2024 to 2030.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.

Public sector net debt amounted to 95.8 percent of gross domestic product in the United Kingdom during the 2024/25 financial year, or 90 percent when the Bank of England is excluded. UK government debt is at its highest levels since the early 1960s, due to a significant increase in borrowing during the COVID-19 pandemic. 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 2024/25, the UK's government expenditure was approximately 1.28 trillion pounds, around 44.7 percent of GDP. This spending was financed by 1.13 trillion pounds of revenue raised, and 151 billion pounds of borrowing. Although the UK government can still borrow money in the future to finance its spending, the amount spent on debt interest has increased significantly recently. Recent forecasts suggest that while the debt is eventually expected to start declining, this is based on falling government deficits in the next five years. Government facing hard choices Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books from the current government, and the possibility for either spending cuts or tax rises. Although Labour ruled out raising the main government tax sources, Income Tax, National Insurance, and VAT, at the 2024 election, they did raise National Insurance for employers (rather than employees) and also cut Winter Fuel allowances for large numbers of pensioners. Less than a year after implementing cuts to Winter Fuel, the government performed a U-Turn on the issue, and will make it widely available by the winter of 2025.

Graph and download economic data for Federal Receipts as Percent of Gross Domestic Product (FYFRGDA188S) from 1929 to 2024 about receipts, federal, GDP, and USA.

For this study, data-tables of the following authors were compiled: Walter G. Hoffmann, Jörg Beutenmüller, Lutz Koellner, Carol Bielefeld, and Klaus Detlef Tiepelmann future.

The sources, as well as the summary table, provide information about the subject area the respective author was in charge with. (A detailed description is as WORD or PDF file available)

Hoffman determined a correlation between GNP and military expenditures of countries with different economic and social systems.

The author Beutemueller found in his analysis a comparatively high proportion of military expenditure in the social product, because he summarized military expenditures an a portion of war costs, and he related both to the lower reference of the net gross national product (at factor cost).

Factual classification of the corresponding data tables in search- and downloadsystem HISTAT(Historical Statistics (www.histat.gesis.org):

A. Expenditures on Defence according to Walter G. Hoffmann A.1 The structure of public consumption per type of spending according to Hoffmann (1850-1959) A.2 The structure of public spending (public consumption plus public investments) per type of spending according to Hoffmann (1850-1959) A.3 Public consumption in current prices according to Hoffmann (1925-1938) A.4 Public consumption in current prices according to Hoffmann (1850-1959) A.5 Public consumption in million marks (in prices of 1913) according to Hoffmann (1850-1959)

B. Military expenditure according to Jörg Beutenmüller B.1 Military expenditure and their proportion of public spending according to Beutenmüller (1872-1968) B.2 Military expenditure and their proportion of the public spending of the FRG according to Beutenmüller (1951-1968) B.3 Military expenditure and their proportion of the net national product with regard to factor costs according to Beutenmüller (1872-1968)

C. Military expenditure in Germany according to the study by Lutz Köllner C.1 Long series referring to the military expenditure in Germany (1900 - 1980) C.1.1 Proportion of military expenditure of the total public spending in selected years in percent (1872-1962) C.1.2 Military expenditure per capita and per employed person in Germany (1900-1980) C.1.3 Proportion of the military expenditure of the net national product at factor prices in million marks (1900-1978) C.1.4 Education spending of the military (1900-1977) C.1.5 Military expenditure per capita of all soldiers and per capita of the officers in billion marks/ reichsmarks/ deutschmarks (1900-1976) C.1.6 Defence density and intensity (1900-1976) C.1.7 Military expenditure in Germany in billion marks/ reichsmarks/ deutschmarks in current prices (1900-1976) C.1.8 Military expenditure in Germany in percent in current prices (1900-1976)

C.2 Other tables for the period before 1945 (von Lutz Köllner) C.2.1 Budget and debts of the German Reich in billion reichsmarks (1933-1945) C.2.2 Germany`s arms expenditure in billion reichsmarks (1932-1939) C.2.3 Public spending and arms expenditure of the German Reich in billion reichsmarks (1932-1939) C.2.4 Increase in national debt in selected states (1914-1950) C.2.5 Public spending in Prussia (1640-1862) C.2.6 Arms expenditure and national income in million reichsmarks according to Blaich (1932-1938)

C.3 Military and finances in the Federal Republic of Germany, the NATO states, and the world (by Lutz Köllner) C.3.1 Defence expenditure of the NATO states (1949-1980) C.3.2 Social burdens resulting from the war in the Federal Republic of Germany in million deutschmarks (1949-1956) C.3.3 Public spending per capita in deutschmarks (1952-1976) C.3.4 Overall expenditure and defence spending by the Federal Republic of Germany in billion deutschmarks (1956-1981) C.3.5 Distribution of worldwide military expenditure in percent (1955-1980) C.3.6 The long-term development of the defence budget of the Federal Republic of Germany in billion deutschmarks (1956-1984)

D. Arms expenditure in the FRG according to Carola Bielfeldt D.1 Defence spending according to different sources in million deutschmarks (1950-1972) D.2 Defence spending in accordance with the NATO criteria in million deutschmarks (1950-1971) D.3 Development of defence spending structure (1950-1971) D.4 Acquisition data for the national economy (1950-1972) D.5 Proportion of defence spending (1950-1971)

E. Defence spending in the FRG according to Klaus Tiepelmann and Detlef Zukunft E.1 Development of defence spending in the Federal Republic of Germany according to Tiepelmann and Zukunft (1955-1992).

Timeseries are downloadable via the online system HISTAT (www.histat.gesis.org).

The U.S. budget deficit amounted to roughly 1.7 trillion U.S. dollars in 2023, which was around 6.3 percent of the U.S. GDP. The forecast predicts a state deficit of about 2.58 trillion U.S. dollars in 2034, which would be about 6.2 percent of the U.S. GDP. The GDP of the United States since 1990 can be accessed here.

In 2024, the U.S. GDP increased from the previous year to about 29.18 trillion U.S. dollars. Gross domestic product (GDP) refers to the market value of all goods and services produced within a country. In 2024, the United States has the largest economy in the world. What is GDP? Gross domestic product is one of the most important indicators used to analyze the health of an economy. GDP is defined by the BEA as the market value of goods and services produced by labor and property in the United States, regardless of nationality. It is the primary measure of U.S. production. The OECD defines GDP as an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs). GDP and national debt Although the United States had the highest Gross Domestic Product (GDP) in the world in 2022, this does not tell us much about the quality of life in any given country. GDP per capita at purchasing power parity (PPP) is an economic measurement that is thought to be a better method for comparing living standards across countries because it accounts for domestic inflation and variations in the cost of living. While the United States might have the largest economy, the country that ranked highest in terms of GDP at PPP was Luxembourg, amounting to around 141,333 international dollars per capita. Singapore, Ireland, and Qatar also ranked highly on the GDP PPP list, and the United States ranked 9th in 2022.