National debt in the US in relation to gross domestic product (GDP) 2024*

The statistic shows the national debt of the United States from 2014 to 2018 in relation to the gross domestic product (GDP), with projections up until 2024. In 2018, the national debt of the United States was at around 104.26 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.

National debt in the United States in relation to gross domestic product (GDP) from 2014 to 2024*

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Source

Release date

October 2019

Region

United States

Survey time period

2014 to 2018

Supplementary notes

Due to the high level of uncertainty in current global economic conditions, the IMF does not offer projections for this economic indicator at this time. Data will be updated as soon as they are available.

* Estimate.

The data have been rounded to provide better understanding of the statistic.

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Statistics on "U.S. public debt"

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