The International Monetary Fund (IMF) is a global organisation that works to achieve sustainable growth and prosperity for all its 190 member countries. The IMF’s Global Debt Database provides data on the level of global debt as a proportion of GDP for 190 countries since 1950.

The household debt-to-GDP ratio is a measure of the financial obligations of individuals and households of a country in relation to the country’s economic strength or total income. It is measured by the total stock of loans and debt securities issued by households as a share of GDP. The ratio shows how heavy the debt load of households is and how likely it is that households can pay off their debt over time. A low household debt-to-GDP ratio suggests that households are generally financially stable, less vulnerable to economic shocks, and less reliant on debt for consumption, potentially indicating sustainable economic growth and lower systemic risks. An increase in the household debt-to-GDP ratio reduces consumption across countries; debt can boost consumption and GDP growth in the short-run, but the long-term harmful effects of debt may be stronger than their short-term beneficial effects, with household debt accumulation possibly hindering economic growth.

For more information on the IMF’s Global Debt Database, including methodology and definitions, see the IMF working paper Global Debt Database: Methodology and Sources.

See the 2023 Global Debt Monitor for further information, including definitions, methods, commentary and analysis, in particular data and comparability issues. To access the data, see the International Monetary Fund Global Debt Database Source table ‘All Country Data’ excel file.