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Household debt ratio in Europe Q4 2019, by country

According to the OECD, household indebtedness ratio presents the total outstanding debt of households as a percentage of their gross disposable income. The debt of households largely consists of loans, primarily home mortgage loans, but also other types of liabilities such as consumer credit (e.g. credit card, automobile loans). A ratio above 100 percent shows that the level of debt outstanding is larger than the annual flow of disposable income.

Country indebtedness levels

For nine of the fifteen European countries included, the level of household indebtedness outweighed the amount of disposable income, with Denmark seeing the highest household indebtedness to gross disposable income ratio of approximately 264 percent as of the fourth quarter of 2019. Slovenia had the lowest indebtedness ratio at approximately 51.5 percent.

Debt per adult in Europe

In Europe, the value of debt per adult varies considerably from under one thousand U.S. dollars to a high of over 140 thousand U.S. dollars. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans. In Europe, the overall average of debt per adult as of the first half of 2019 was just under 24 thousand U.S. dollars.

Household indebtedness to gross disposable income ratio in Europe as of the 4th quarter 2019, by country

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Source

Release date

July 2020

Region

Europe

Survey time period

4th quarter 2019

Supplementary notes

The source added the following information "The household indebtedness ratio presents the total outstanding debt of households as a percentage of gross disposable income of households. The debt of households largely consists of loans, primarily home mortgage loans, but also other types of liabilities such as consumer credit (e.g. credit card, automobile loans). An indebtedness ratio above (below) 100 percent indicates that the household debt outstanding is larger (smaller) than the annual flow of disposable income. It is clear that high household indebtedness ratios, as is true for high government debt ratios, may create a certain risk or vulnerability for households, especially when it is unevenly distributed across different groups of households. On the other hand however, one should also take into account the availability of assets, e.g. dwellings, for which the borrowing has been made."

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