Interest payments in United Kingdom
United Kingdom: Interest payments was 7.8% in 2023. ▼ Falling
Interest payments in United Kingdom, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
In 2023, interest payments in United Kingdom stood at 7.8%.
The figure is down 25.5% on the previous year and up 5.9% over ten years.
Over the whole period, interest payments in United Kingdom peaked at 11.4% in 1987 and was at its lowest, 4.3%, in 2020.
That places United Kingdom 69th out of 152 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 52 years of available data.
Interest payments in United Kingdom, year by year
| Year | % of expense | Change |
|---|---|---|
| 1972 | 8.8% | — |
| 1973 | 9.4% | +7.2% |
| 1974 | 8.9% | -4.9% |
| 1975 | 8.7% | -2.6% |
| 1976 | 9.1% | +4.1% |
| 1977 | 9.2% | +1.9% |
| 1978 | 9.9% | +7.2% |
| 1979 | 10.8% | +8.7% |
| 1980 | 10.9% | +1.2% |
| 1981 | 10.5% | -3.5% |
| 1982 | 9.9% | -6.0% |
| 1983 | 10.0% | +1.5% |
| 1984 | 10.4% | +3.7% |
| 1985 | 10.6% | +2.2% |
| 1986 | 10.6% | -0.1% |
| 1987 | 11.4% | +7.7% |
| 1988 | 11.3% | -1.3% |
| 1989 | 10.9% | -3.9% |
| 1990 | 9.0% | -17.0% |
| 1991 | 7.3% | -19.4% |
| 1992 | 6.6% | -9.0% |
| 1993 | 7.0% | +5.1% |
| 1994 | 7.8% | +12.0% |
| 1995 | 8.3% | +6.1% |
| 1996 | 8.5% | +3.0% |
| 1997 | 9.1% | +6.6% |
| 1998 | 9.0% | -0.3% |
| 1999 | 7.7% | -14.8% |
| 2000 | 7.2% | -6.2% |
| 2001 | 6.3% | -13.3% |
| 2002 | 5.3% | -15.6% |
| 2003 | 5.1% | -3.7% |
| 2004 | 5.1% | +1.0% |
| 2005 | 5.4% | +5.0% |
| 2006 | 5.4% | +0.0% |
| 2007 | 5.9% | +9.3% |
| 2008 | 5.5% | -6.4% |
| 2009 | 4.6% | -17.1% |
| 2010 | 6.8% | +48.6% |
| 2011 | 7.8% | +14.1% |
| 2012 | 6.9% | -10.8% |
| 2013 | 7.3% | +6.0% |
| 2014 | 7.0% | -4.1% |
| 2015 | 6.3% | -10.4% |
| 2016 | 6.8% | +8.0% |
| 2017 | 7.5% | +10.0% |
| 2018 | 6.8% | -8.6% |
| 2019 | 6.2% | -9.7% |
| 2020 | 4.3% | -30.2% |
| 2021 | 6.4% | +47.7% |
| 2022 | 10.4% | +63.9% |
| 2023 | 7.8% | -25.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 9.4% | 8.7% | 10.8% | 8 |
| 1980s | 10.7% | 9.9% | 11.4% | 10 |
| 1990s | 8.0% | 6.6% | 9.1% | 10 |
| 2000s | 5.6% | 4.6% | 7.2% | 10 |
| 2010s | 6.9% | 6.2% | 7.8% | 10 |
| 2020s | 7.2% | 4.3% | 10.4% | 4 |
Countries ranked near United Kingdom
More public sector data for United Kingdom
- Arms imports 643.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 9.28 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0002 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 36.23 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 643.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 1,180 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0221 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 8.58 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 81.76 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 1,951 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is interest payments in United Kingdom?
- Interest payments in United Kingdom was 7.8% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest interest payments recorded in United Kingdom?
- The highest recorded value was 11.4% in 1987.
- What is the lowest interest payments recorded in United Kingdom?
- The lowest recorded value was 4.3% in 2020.
- How does United Kingdom rank for interest payments?
- United Kingdom ranks 69th out of 152 countries with data for 2023.
- Is interest payments rising or falling in United Kingdom?
- Over the last ten years it is up 5.9%. The long-run trend across the full record is falling.
- Where does this United Kingdom data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Interest payments (% of expense). Statizoid updates them automatically from the source API.
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About this data
Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.