household debts in Finland

Gross debt in Finland

The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. Not included in the gross debt are the demands of a country to foreign ones.

The gross debt in Finland in the period from 1998 to 2021 was between 53.0 billion and 196.8 billion USD. The highest level of the last years at 197 billion US Dollar was reached in 2021. The budget deficit in the same year was 7.7 billion USD.

Based on the number of inhabitants, this is a debt of 35,520 USD per person. For comparison, the average debt per person in the same year in the European Union was 33,695 USD.

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Gross debt of the last 23 years in billion USD

YearFinland totalFinland per capitaEU per capita
199862.70 bn USD12,167 USD14,079 USD
199959.53 bn USD11,525 USD14,032 USD
200053.50 bn USD10,336 USD11,232 USD
200153.01 bn USD10,217 USD11,255 USD
200256.42 bn USD10,848 USD12,258 USD
200373.38 bn USD14,076 USD15,286 USD
200484.21 bn USD16,107 USD17,595 USD
200581.81 bn USD15,595 USD18,327 USD
200682.74 bn USD15,711 USD18,877 USD
200786.92 bn USD16,436 USD20,898 USD
200893.03 bn USD17,509 USD24,086 USD
2009105.28 bn USD19,720 USD25,361 USD
2010116.99 bn USD21,813 USD26,496 USD
2011133.04 bn USD24,691 USD29,231 USD
2012138.50 bn USD25,582 USD28,174 USD
2013152.58 bn USD28,054 USD29,981 USD
2014164.44 bn USD30,109 USD30,648 USD
2015149.26 bn USD27,240 USD25,918 USD
2016152.11 bn USD27,680 USD26,261 USD
2017156.38 bn USD28,389 USD27,024 USD
2018164.83 bn USD29,884 USD28,448 USD
2019160.02 bn USD28,981 USD27,168 USD
2020187.53 bn USD33,914 USD30,783 USD
2021196.81 bn USD35,520 USD33,695 USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      Finland       European Union

Budget deficit in Finland

household debts in FinlandThe budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurance, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money than at at the beginning, it is a surplus. If it is less, it is called a deficit.

The budget balance in Finland in the period between 1998 and 2021 varied between -14.98 billion euros and +13.13 billion euros. In 2021, Finland reached a balance of -7.72 billion euros.

In ratio to population, this equals a new indebtedness of 1,394 euros per capita in Finland in 2021. For comparison, the average debt per capita in the European Union in the same year was 1,787 euros.

Budget deficit and surplus in the last 23 years

YearFinland totalFinland per capitaEU per capita
19982.05 bn USD397 USD-398 USD
19992.08 bn USD403 USD-204 USD
20008.48 bn USD1,638 USD112 USD
20016.39 bn USD1,232 USD-299 USD
20025.67 bn USD1,089 USD-565 USD
20034.36 bn USD837 USD-840 USD
20044.36 bn USD833 USD-920 USD
20055.30 bn USD1,011 USD-822 USD
20068.52 bn USD1,618 USD-568 USD
200713.13 bn USD2,482 USD-360 USD
200811.93 bn USD2,246 USD-1,085 USD
2009-6.30 bn USD-1,180 USD-2,021 USD
2010-6.32 bn USD-1,178 USD-1,970 USD
2011-2.81 bn USD-521 USD-1,462 USD
2012-5.57 bn USD-1,029 USD-1,220 USD
2013-6.85 bn USD-1,260 USD-1,027 USD
2014-8.21 bn USD-1,504 USD-852 USD
2015-5.69 bn USD-1,038 USD-577 USD
2016-4.09 bn USD-744 USD-423 USD
2017-1.67 bn USD-304 USD-263 USD
2018-2.35 bn USD-427 USD-139 USD
2019-2.54 bn USD-460 USD-197 USD
2020-14.98 bn USD-2,709 USD-2,312 USD
2021-7.72 bn USD-1,394 USD-1,787 USD

(negative numbers = deficit)
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