GITNUX MARKETDATA REPORT 2024

Us Debt Industry Statistics

The US debt industry statistics reveal the increasing trend of debt levels and debt delinquencies among consumers and businesses alike.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore the alarming statistics surrounding the U.S. debt industry. From the staggering total debt figures to the breakdown of different types of debt and their implications, the numbers paint a concerning picture of the financial landscape in the United States. Let’s dive into the data and uncover the realities of the nation’s escalating debt crisis.

Statistic 1

"As of the end of December 2020, the total debt in the U.S. amounted to approximately $27.75 trillion."

Statistic 2

"As of February 2021, the U.S. gross federal debt is $27.9 trillion."

Statistic 3

"The US consumer debt reached $14.15 trillion in Q1 2020."

Statistic 4

"In 2020, the U.S. debt as a percentage of GDP reached 129.2%."

Statistic 5

"By 2025, the US federal debt held by the public is projected to reach 117.1% of GDP."

Statistic 6

"U.S. federal government’s interest expense amounted to about 375 billion U.S. dollars in 2020."

Statistic 7

"U.S. student loan debt reached $1.56 trillion in 2020."

Statistic 8

"As of 2019, China is the largest foreign holder of U.S. debt at $1.07 trillion."

Statistic 9

"The total credit card debt in the U.S. totaled $807 billion in Q1 2020."

Statistic 10

"The average American has about $38,000 in personal debt, excluding home mortgages."

Statistic 11

"As of the end of 2019, the U.S. corporate debt stood at $10 trillion, or 47% of the overall economy."

Statistic 12

"As of 2020, the median student loan debt in the U.S. was $20,000."

Statistic 13

"In 2020, medical debts led to over 500,000 bankruptcy filings in the US."

Statistic 14

"The average American owes $5,315 in credit card debt, as of 2020."

Statistic 15

"Mortgage debt is the largest form of debt among American consumers, with a total value of $10.44 trillion in 2020."

Statistic 16

"The U.S. national debt per citizen, in 2021, is about $85,210."

Statistic 17

"The auto loan debt in U.S. reached a record high in 2020, at $1.35 trillion."

Statistic 18

"By the end of 2022, the national debt of the United States is expected to amount to 35.3 trillion U.S. dollars."

The statistics presented highlight the significant and complex landscape of debt in the United States. The data show a substantial amount of debt across various sectors, from government to consumer levels, signaling potential challenges in managing and reducing these financial burdens. With projections indicating further increases in federal debt as a percentage of GDP and the total national debt, there is a continued need for careful economic planning and policy decisions to address this issue. The statistics underscore the importance of monitoring debt levels and implementing strategies to promote financial stability and sustainability in the future.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.