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Household debt to GDP ratio in the U.S. 2014-2020

In the second quarter of 2020, the household debt to GDP ratio in the United States amounted to approximately 84.57 percent.

Debt to GDP ratio - additional information

The household debt to GDP ratio decreased in the recent years from 81.9 percent in the first quarter of 2014 to 76 percent in the third quarter of 2019. This tendency could be explained either by steady growth of gross domestic product in the United States or reduction of household debt. Mortgages, which are the most significant component of the household debt, decreased from 9.72 trillion U.S. dollars in the fourth quarter of 2012 to 9.44 trillion U.S. dollars in the third quarter of 2016 in the United States but have rebounded to 10.5 trillion as of the third quarter of 2019.

Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, increased from year to year and reached approximately 15.75 trillion U.S. dollars in 2018. According to the forecast, public debt in the United States will amount to approximately 24.6 trillion U.S. dollars in 2026. The major holders of American government debt, as of December 2018, were Federal Reserve and government accounts and foreign and international holders. National debt in the United States constituted 106.23 percent of GDP in 2017.

The ratio of national debt to GDP varies significantly on a global scale. The countries with the highest ratios of national debt to GDP in 2018 were, among others, Japan, Greece and Barbados. The lowest debt to GDP ratios were observed in Macao SAR, Hong Kong SAR and Brunei Darussalam in the same year.

Household debt to GDP ratio in the United States from 1st quarter 2011 to 2nd quarter 2020

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Sources

Release date

November 2020

Region

United States

Survey time period

Q1 2011 to Q2 2020

Supplementary notes

Figures have been rounded.

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Statistics on "Personal debt in the United States"

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