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.

The statistic shows the national debt of the United States from 2019 to 2022 in relation to the gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of the United States was at around 120.03 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 Gross Federal Debt as Percent of Gross Domestic Product (GFDGDPA188S) from 1939 to 2023 about gross, debt, federal, GDP, and USA.

In the fiscal year of 2021, total state and local government debt in the state of New York amounted to 20.07 percent of the annual Gross Domestic Product of the state. In Kentucky, this figure amounted to 22.78 percent of the state's annual GDP, the highest of any state.

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

Private Debt to GDP in the United States decreased to 216.50 percent in 2023 from 224.50 percent in 2022. United States Private Debt to GDP - values, historical data, forecasts and news - updated on March of 2025.

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.

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.

The U.S. debt held by the public amounted to 24.24 trillion U.S. dollars in 2023, which was about 97.3 percent of the U.S. GDP. The forecast predicts an increase in public debt up to 48.3 trillion U.S. dollars in 2034, which would be about 116 percent of the U.S. GDP. The actual total debt accrued by the U.S. annually can be accessed here.

Graph and download economic data for Federal Debt Held by the Public as Percent of Gross Domestic Product (FYGFGDQ188S) from Q1 1970 to Q4 2024 about public, debt, federal, GDP, and USA.

Key information about Japan Government Debt: % of GDP

• Japan Government debt accounted for 216.2 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 217.2 % in the previous quarter.
• Japan government debt to GDP ratio data is updated quarterly, available from Dec 1994 to Dec 2024.
• The data reached an all-time high of 225.8 % in Mar 2021 and a record low of 55.9 % in Dec 1994.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bank of Japan provides Government Debt in local currency. The Economic and Social Research Institute provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about Japan Government Debt: % of GDP

• In the latest reports, Japan National Government Debt reached 9,396.6 USD bn in Apr 2023.
• The country's Nominal GDP reached 1,080.1 USD bn in Mar 2023.

United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product was 121.86755 % of GDP in October of 2024, according to the United States Federal Reserve. Historically, United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product reached a record high of 132.81490 in April of 2020 and a record low of 30.60333 in July of 1981. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Federal Debt: Total Public Debt as Percent of Gross Domestic Product - last updated from the United States Federal Reserve on March of 2025.

The ratio of national debt to gross domestic product (GDP) in Mexico was forecast to increase between 2024 and 2029 by in total 0.3 percentage points. This overall increase does not happen continuously, notably not in 2026. According to this forecast, in 2029, the ratio will have increased for the third consecutive year to 58.08 percent. 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.Find more statistics on other topics about Mexico with key insights such as the general government primary net lending, the share in the global GDP adjusted for PPP, and the gross domestic product (GDP) in current prices.

Key information about United States External Debt: % of GDP

• United States External Debt accounted for 93.7 % of the country's Nominal GDP in 2023, compared with the ratio of 94.4 % in the previous year.
• US External Debt: % of Nominal GDP data is updated yearly, available from Dec 2003 to Dec 2023.
• The data reached an all-time high of 100.0 % in Dec 2020 and a record low of 60.6 % in Dec 2003.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. The U.S. Department of the Treasury provides External Debt in USD based on BPM6. The Bureau of Economic Analysis provides Nominal GDP in USD. External Debt prior to 2014 is based on BPM5.


Related information about United States External Debt: % of GDP

• In the latest reports of US, Current Account recorded a deficit of 266.8 USD bn in Jun 2024.
• Foreign Direct Investment (FDI) increased by 93.6 USD bn in Jun 2024.
• US Direct Investment Abroad expanded by 56.2 USD bn in Jun 2024.
• Its Foreign Portfolio Investment increased by 258.7 USD bn in Jun 2024.
• The country's External Debt reached 26,467,035.0 in Mar 2024.
• The country's Nominal GDP was reported at 6,632.4 USD bn in Mar 2023.

Key information about China Government Debt: % of GDP

• China Government debt accounted for 25.6 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 25.1 % in the previous quarter.
• China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Dec 2024.
• The data reached an all-time high of 25.6 % in Dec 2024 and a record low of 14.0 % in Mar 2014.

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


Related information about China Government Debt: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023.
• The country's Nominal GDP reached 4,166.8 USD bn in Mar 2023.

Russia recorded a Government Debt to GDP of 14.90 percent of the country's Gross Domestic Product in 2023. This dataset provides - Russia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about US External Debt

• United States External Debt reached 25,798.1 USD bn in Sep 2024, compared with 26,895.8 USD bn in the previous quarter.
• US External Debt: USD mn data is updated quarterly, available from Jun 2003 to Sep 2024.
• The data reached an all-time high of 26,895.8 USD bn in Jun 2024 and a record low of 6,570.2 USD bn in Jun 2003.

The US Department of Treasury provides External Debt in USD based on BPM6. External Debt prior to Q3 2014 is based on BPM5.


Related information about US External Debt

• In the latest reports of US, Current Account recorded a deficit of 310.9 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 96.6 USD bn in Sep 2024.
• US Direct Investment Abroad expanded by 96.8 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 637.6 USD bn in Sep 2024.
• The country's Nominal GDP was reported at 6,632.4 USD bn in Mar 2023.

Graph and download economic data for Federal Debt Held by Private Investors as Percent of Gross Domestic Product (HBPIGDQ188S) from Q1 1970 to Q4 2024 about debt, federal, private, GDP, and USA.

Key information about United States Debt Service Ratio: Households

• United States Debt Service Ratio: Households was reported at 8.100 % in Sep 2024
• This stayed constant from the previous number of 8.100 % for Jun 2024
• US Debt Service Ratio: Households data is updated quarterly, averaging 9.000 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 11.600 % in Dec 2007 and a record low of 7.100 % in Mar 2021
• US Debt Service Ratio: Households 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: G2 Households (HH) and Non-Profit Institution Serving Households (NPISHs): Quarterly

The graph shows national debt in China related to gross domestic product until 2023, with forecasts to 2029. In 2023, gross national debt ranged at around 84 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 2023, the estimated national debt of Japan amounted to about 255 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 Montenegro Government Debt: % of GDP

• Montenegro Government debt accounted for 59.8 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 62.1 % in the previous quarter.
• Montenegro government debt to GDP ratio data is updated quarterly, available from Dec 2010 to Sep 2024.
• The data reached an all-time high of 103.5 % in Dec 2020 and a record low of 40.7 % in Dec 2010.

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 Social Welfare provides Government Debt in EUR. The Statistical Office of Montenegro provides Nominal GDP in EUR.


Related information about Montenegro Government Debt: % of GDP

• In the latest reports, Montenegro National Government Debt reached 4.9 USD bn in Sep 2024.
• The country's Nominal GDP reached 1.3 USD bn in Mar 2023.