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 ( [http://www.thomson.com/financial/investbank/fi_investbank_league_tablearchive_debt.jsp] ) ($ billions and number of isses).

World-Wide Debt
*2003: 4,938 (17,287) (Q4 2003 report)
*2002: 3,938 (?) (Q4 2003 report)

Levels

Euro area

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

Japan

*Credit market 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 market 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

ee also

*Bond (finance)
*Bond market
*Credit (finance)
*Credit market
*Debt
*Debt market
*Fixed income
*Loan
*Securitization
*Structured finance
*World economy

External links

ECB

* [http://www.ecb.int/stats/html/index.en.html ECB: Statistics]
** [http://www.ecb.int/pub/spb/html/index.en.html ECB: Statistics pocket book]

United States

* [http://www.bondmarkets.com/story.asp?id=323 Outstanding Public and Private Bond Market Debt]

Federal Reserve

* [http://www.federalreserve.gov/releases/Z1/ FRB: Z.1 Release-- Flow of Funds Accounts of the United States, Release Dates]
** [http://www.federalreserve.gov/releases/Z1/current/accessible/l1.htm FRB: Z.1 Release--L.1--Credit Market Debt Outstanding--December 9, 2004]
** [http://www.federalreserve.gov/releases/Z1/current/accessible/f6.htm FRB: Z.1 Release--F.6--Distribution of Gross Domestic Product--December 9, 2004]