household debts in the United Kingdom

Gross debt in the United Kingdom

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 the United Kingdom in the period from 1998 to 2019 was between 565.8 billion and 2.73 trillion USD. The hightest level within the past 21 years was reached in 2014. However, the liabilities in 2019 have been only 2.5 trillion USD The budget deficit in the same year was 65.3 billion USD.

Based on the number of inhabitants, this is a debt of 37,230 USD per person. For comparison, the average debt per person in the same year in the European Union was 27,168 USD.

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Gross debt of the last 21 years in billion USD

YearUnited Kingdom totalUnited Kingdom per capitaEU per capita
1998646.32 bn USD11,051 USD14,079 USD
1999695.44 bn USD11,851 USD14,032 USD
2000592.85 bn USD10,067 USD11,232 USD
2001565.77 bn USD9,570 USD11,255 USD
2002583.58 bn USD9,829 USD12,258 USD
2003713.02 bn USD11,954 USD15,286 USD
2004890.04 bn USD14,837 USD17,595 USD
20051,003.18 bn USD16,609 USD18,327 USD
20061,115.87 bn USD18,339 USD18,877 USD
20071,202.51 bn USD19,610 USD20,898 USD
20081,210.51 bn USD19,585 USD24,086 USD
20091,536.86 bn USD24,678 USD25,361 USD
20101,837.18 bn USD29,270 USD26,496 USD
20112,212.56 bn USD34,976 USD29,231 USD
20122,241.09 bn USD35,182 USD28,174 USD
20132,386.76 bn USD37,218 USD29,981 USD
20142,734.64 bn USD42,330 USD30,648 USD
20152,516.51 bn USD38,646 USD25,918 USD
20162,237.79 bn USD34,107 USD26,261 USD
20172,273.63 bn USD34,418 USD27,024 USD
20182,425.46 bn USD36,495 USD28,448 USD
20192,488.31 bn USD37,230 USD27,168 USD

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

      United Kingdom       European Union

Budget deficit in the United Kingdom

household debts in the United KingdomThe 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 the United Kingdom in the period between 2001 and 2019 varied between -243.43 billion euros and +6.26 billion euros. In 2019, the United Kingdom reached a balance of -65 billion euros.

In ratio to population, this equals a new indebtedness of 977 euros per capita in the United Kingdom in 2019. For comparison, the average debt per capita in the European Union in the same year was 197 euros.

Budget deficit and surplus in the last 18 years

YearUnited Kingdom totalUnited Kingdom per capitaEU per capita
20016.26 bn USD106 USD-299 USD
2002-34.24 bn USD-577 USD-565 USD
2003-64.86 bn USD-1,087 USD-840 USD
2004-82.47 bn USD-1,375 USD-920 USD
2005-79.57 bn USD-1,317 USD-822 USD
2006-74.43 bn USD-1,223 USD-568 USD
2007-81.40 bn USD-1,327 USD-360 USD
2008-150.46 bn USD-2,434 USD-1,085 USD
2009-243.43 bn USD-3,909 USD-2,021 USD
2010-229.10 bn USD-3,650 USD-1,970 USD
2011-199.11 bn USD-3,148 USD-1,462 USD
2012-220.56 bn USD-3,462 USD-1,220 USD
2013-153.20 bn USD-2,389 USD-1,027 USD
2014-169.84 bn USD-2,629 USD-852 USD
2015-133.37 bn USD-2,048 USD-577 USD
2016-88.35 bn USD-1,347 USD-423 USD
2017-64.57 bn USD-977 USD-263 USD
2018-64.32 bn USD-968 USD-139 USD
2019-65.32 bn USD-977 USD-197 USD

(negative numbers = deficit)
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