National Debt (% of GDP): United Kingdom
Current Value (2024)
131.1%
All-Time Peak (2020)
194.7%
All-Time Low (1991)
29.2%
National Debt (% of GDP) — United Kingdom
Analysis# UK National Debt Analysis
The UK's national debt spiked to a 34-year high of 194.7% of GDP in 2020, driven primarily by COVID-19 pandemic spending, then declined to 131.1% by 2024—a 63.6 percentage point reduction reflecting post-pandemic fiscal consolidation and nominal GDP recovery. The debt-to-GDP ratio has remained persistently elevated since the 2008 financial crisis (when it was ~65%), never returning to the pre-crisis norm of ~35%, indicating structural deficits and sluggish productivity growth. At 131.1% in 2024, the debt level remains 4.5
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 131.1% | -3.72% |
| 2023 | 136.1% | -1.50% |
| 2022 | 138.2% | -24.80% |
| 2021 | 183.8% | -5.59% |
| 2020 | 194.7% | +22.46% |
| 2019 | 159.0% | +1.41% |
| 2018 | 156.8% | -2.11% |
| 2017 | 160.1% | +2.93% |
| 2016 | 155.6% | +5.79% |
| 2015 | 147.1% | -1.69% |
| 2014 | 149.6% | +6.06% |
| 2013 | 141.0% | -3.65% |
| 2012 | 146.4% | +2.27% |
| 2011 | 143.1% | +9.68% |
| 2010 | 130.5% | +6.19% |
| 2009 | 122.9% | +17.21% |
| 2008 | 104.8% | +12.28% |
| 2007 | 93.4% | +1.73% |
| 2006 | 91.8% | -0.08% |
| 2005 | 91.9% | +1.84% |
Show all 35 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 90.2% | +4.39% |
| 2003 | 86.4% | +0.28% |
| 2002 | 86.2% | +2.53% |
| 2001 | 84.0% | -3.71% |
| 2000 | 87.3% | -0.01% |
| 1999 | 87.3% | -3.11% |
| 1998 | 90.1% | +2.13% |
| 1997 | 88.2% | +1.19% |
| 1996 | 87.2% | -1.17% |
| 1995 | 88.2% | +117.93% |
| 1994 | 40.5% | +14.63% |
| 1993 | 35.3% | +16.16% |
| 1992 | 30.4% | +4.13% |
| 1991 | 29.2% | -3.34% |
| 1990 | 30.2% | — |