Household debt ratio in Spain Q1 2007-Q3 2022
On average, the value of the outstanding debt of Spanish households in the third quarter of 2022 was slightly lower than their gross disposable income. In other words, the indebtedness ratio was below, but close to 100 percent. These figures have been stable since 2019, but before that the debt ratio had been decreasing fast. While in 2007 household debt represented a 140 percent of household income, it has decreased since then. In contrast, the household gross savings rate in Spain peaked in 2020 after the outbreak of the COVID-19 pandemic.
