Global debt levels

Flows

World-wide debt, equity and equity-related issuance reached record-breaking levels in 2003 with over $5 trillion in proceeds raised, surpassing 2001’s record of $4.4 trillion. The $5 trillion of borrowings represented 14% of the GDP flow during the year (4.938/36.3) (see world economy).

Debt issuance reported by Thomson Financial [1] ($ billions and number of issues).

World-wide debt:

  • 2003: 4,938 (17,287) (Q4 2003 report)
  • 2002: 3,938 (?) (Q4 2003 report)

Levels

Euro area

  • Credit debt: ?
    • Households: 80.9% of households’ gross disposable income
    • Non-financial corporations: 78.9% of GDP
    • Government: 70.7% of GDP

Japan

  • Credit debt: ?
    • Households: 110.5% of households’ gross disposable income
    • Non-financial corporations: 110.5% of GDP
    • Government: 141.3% of GDP

United States

Dollar amounts are debt owed by each sector (amounts borrowed by each sector)

  • Credit debt: $35.8 trillion (303% of GDP) (35820.6/11809.9)
    • Households: 90% of GDP (67.5% of households’ gross disposable income)
      • Household sector: 9.9 trillion (includes $9 trillion in mortgage debt)
    • Financial sectors: 100% of GDP
      • Financial sectors: $11.6 trillion
    • Non-financial corporations: 67.5% of GDP
      • Nonfinancial corporate business: $9 trillion (excludes unfunded liabilities for pension funds and other post employment benefit funds)
      • Nonfarm noncorporate business: $2.4 trillion
      • Farm business: $200 billion
    • Government: 70% of GDP (does not include unfunded liabilities for Medicare and Social Security)
      • Federal government: $9 trillion
      • State and local governments: $1.6 trillion
      • Unfunded Medicare liability: $34 trillion
      • Unfunded Social Security liability: $12 trillion

See also

References

  1. ↑ "Archived copy". Archived from the original on 2004-12-15. Retrieved 2005-01-03.

ECB

United States

Federal Reserve

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