Private Debt to GDP in the United Kingdom decreased to 75.70 percent in 2024 from 79.30 percent in 2023. United Kingdom Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Key information about United Kingdom Private Debt: % of Nominal GDP

• United Kingdom Private Debt accounted for 113.96 % of its Nominal GDP in Dec 2024, compared with a ratio of 116.11 % in the previous quarter
• UK Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Jun 1998 to Dec 2024, with an average share of 135.26 %
• The data reached an all-time high of 203.16 % in Mar 2010 and a record low of 101.90 % in Dec 1998

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Private Loans and Private Securities in GBP and Foreign Currency. The Bank of England provides Private Debt in local currency. Office for National Statistics provides Nominal GDP in local currency. Private Debt includes Financial Sector.

In the first half of 2024, the total value of debt from loans to households in the United Kingdom amounted to approximately two trillion British pounds. It was in 2004, when household debt surpassed the one trillion British pounds mark. Debts can be formed in a number of ways. The most common forms of debt for households include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Private sector debt includes the stock of liabilities, debt securities and loans, held by non-financial corporations, households and non-profit institutions serving households. Between 1995 and 2018, the value of non-consolidated debt of the private sector in the United Kingdom (UK) increased steadily, reaching its highest value of nearly 3.5 trillion British pounds in 2018. In 2019, this figure decreased slightly. Indebtedness is correlated with rising income levels since borrowing allows an increase in consumption and investment. Nevertheless, overborrowing exposes businesses to risk of changes in economic conditions, interest rates and inflation.

Graph and download economic data for Outstanding International Private Debt Securities to GDP for United Kingdom (DDDM05GBA156NWDB) from 1980 to 2020 about United Kingdom, debt, securities, private, and GDP.

Loans to Private Sector in the United Kingdom increased to 2754106 GBP Million in the first quarter of 2025 from 2715830 GBP Million in the fourth quarter of 2024. This dataset provides - United Kingdom Loans to Private Sector - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households Debt in the United Kingdom decreased to 76.30 percent of GDP in the fourth quarter of 2024 from 77.20 percent of GDP in the third quarter of 2024. This dataset provides - United Kingdom Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Key information about United Kingdom Household Debt: % of GDP

• United Kingdom household debt accounted for 81.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 81.8 % in the previous quarter.
• UK household debt to GDP ratio is updated quarterly, available from Mar 1987 to Sep 2024.
• The data reached an all-time high of 108.5 % in Mar 2010 and a record low of 55.6 % in Mar 1987.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Office for National Statistics provides Household Debt in local currency and Nominal GDP in local currency. Household Debt includes NPISH.


Related information about United Kingdom Household Debt: % of GDP

• In the latest reports, UK Household Debt reached 3,076.4 USD bn in Sep 2024.
• Money Supply M2 in UK increased 2.2 % YoY in Dec 2024.
• UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024.
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year.

United Kingdom UK: Domestic Credit: to Private Sector: % of GDP data was reported at 136.203 % in 2017. This records an increase from the previous number of 134.256 % for 2016. United Kingdom UK: Domestic Credit: to Private Sector: % of GDP data is updated yearly, averaging 94.784 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 194.862 % in 2009 and a record low of 17.556 % in 1960. United Kingdom UK: Domestic Credit: to Private Sector: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Bank Loans. Domestic credit to private sector refers to financial resources provided to the private sector by financial corporations, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises. The financial corporations include monetary authorities and deposit money banks, as well as other financial corporations where data are available (including corporations that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other financial corporations are finance and leasing companies, money lenders, insurance corporations, pension funds, and foreign exchange companies.; ; International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.; Weighted average;

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.

Clients seeking financial advice from the debt charity StepChange in the United Kingdom had on average approximately ***** British pounds of unsecured credit card debt in 2022. On average, the new clients of this charity owed more unsecured debt from personal loans than from any other type of credit.

United Kingdom UK: Monetary Sector Credit to Private Sector: % of GDP data was reported at 120.831 % in 2023. This records a decrease from the previous number of 129.900 % for 2022. United Kingdom UK: Monetary Sector Credit to Private Sector: % of GDP data is updated yearly, averaging 100.120 % from Dec 1960 (Median) to 2023, with 64 observations. The data reached an all-time high of 192.438 % in 2009 and a record low of 17.339 % in 1960. United Kingdom UK: Monetary Sector Credit to Private Sector: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Bank Loans. Domestic credit to private sector refers to financial resources provided to the private sector, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.;International Monetary Fund, International Financial Statistics and data files, and World Bank and OECD GDP estimates.;;

The United Kingdom recorded a Government Debt to GDP of 95.90 percent of the country's Gross Domestic Product in 2024. This dataset provides - United Kingdom Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Outstanding international private debt securities to GDP (%) in United Kingdom was reported at 104 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. United Kingdom - Outstanding international private debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Key information about United Kingdom Debt Service Ratio: Private Non-Financial Sector

• United Kingdom Debt Service Ratio: Private Non-Financial Sector was reported at 13.700 % in Sep 2024
• This records an increase from the previous number of 13.500 % for Jun 2024
• UK Debt Service Ratio: Private Non-Financial Sector data is updated quarterly, averaging 15.600 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 19.700 % in Dec 2008 and a record low of 13.300 % in Jun 2023
• UK Debt Service Ratio: Private Non-Financial Sector data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G1 Private Non-Financial Sector (PNF): Quarterly

In 2022, the most common reason for having personal debt by people seeking financial advice in the United Kingdom (UK) was lack of control over finances. According to the figures, ** percent of clients who sought debt counseling with the UK charity StepChange had debt problems because of the increase in the cost of living. Personal debt is defined as a financial obligation owed by an individual or a household.

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.

Graph and download economic data for Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for United Kingdom (QGBPAM770A) from Q1 1963 to Q4 2024 about adjusted, credits, nonfinancial, sector, United Kingdom, and private.

Debt service ratios for private non-financial sector in the United Kingdom, December, 2024 The most recent value is 13.5 percent as of Q4 2024, a decline compared to the previous value of 13.7 percent. Historically, the average for the United Kingdom from Q1 2000 to Q4 2024 is 15.79 percent. The minimum of 13.3 percent was recorded in Q4 2022, while the maximum of 19.7 percent was reached in Q4 2007. | TheGlobalEconomy.com