Net incurrence of liabilities, total in North America
North America: Net incurrence of liabilities, total was 6.9% in 2024. ◆ Volatile
Net incurrence of liabilities, total in North America, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2024, net incurrence of liabilities, total in North America stood at 6.9%.
The figure is down 21.1% on the previous year and up 76.1% over ten years.
Over the whole period, net incurrence of liabilities, total in North America peaked at 23.1% in 2020 and was at its lowest, -2.1%, in 2000.
That places North America 3rd out of 21 groups with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total in North America, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | 1.6% | — |
| 1973 | 1.3% | -21.8% |
| 1974 | 0.1% | -89.6% |
| 1975 | 3.2% | +2298.5% |
| 1976 | 4.4% | +40.3% |
| 1977 | 2.7% | -39.3% |
| 1978 | 2.6% | -1.7% |
| 1979 | 1.5% | -42.5% |
| 1980 | 2.7% | +76.9% |
| 1981 | 2.6% | -1.4% |
| 1982 | 4.1% | +56.9% |
| 1983 | 5.9% | +43.0% |
| 1984 | 4.3% | -27.3% |
| 1985 | 4.6% | +7.2% |
| 1986 | 5.1% | +10.1% |
| 1987 | 3.1% | -39.9% |
| 1988 | 3.1% | +0.8% |
| 1989 | 2.5% | -19.8% |
| 1990 | 3.7% | +49.2% |
| 1991 | 4.6% | +24.5% |
| 1992 | 4.7% | +2.6% |
| 1993 | 3.9% | -17.4% |
| 1994 | 2.7% | -29.7% |
| 1995 | 2.4% | -11.2% |
| 1996 | 1.7% | -30.3% |
| 1997 | 0.4% | -75.3% |
| 1998 | -0.5% | -223.9% |
| 1999 | -0.7% | +43.2% |
| 2000 | -2.1% | +185.8% |
| 2001 | 0.7% | -133.9% |
| 2002 | 2.6% | +265.6% |
| 2003 | 4.4% | +69.6% |
| 2004 | 3.5% | -22.0% |
| 2005 | 3.3% | -4.2% |
| 2006 | 1.9% | -42.3% |
| 2007 | 2.3% | +17.5% |
| 2008 | 9.0% | +299.6% |
| 2009 | 10.2% | +13.4% |
| 2010 | 10.6% | +3.5% |
| 2011 | 7.2% | -31.5% |
| 2012 | 7.2% | +0.0% |
| 2013 | 4.8% | -33.1% |
| 2014 | 3.9% | -19.4% |
| 2015 | 4.0% | +3.3% |
| 2016 | 4.3% | +6.5% |
| 2017 | 3.1% | -27.1% |
| 2018 | 5.8% | +83.9% |
| 2019 | 5.1% | -11.0% |
| 2020 | 23.1% | +350.5% |
| 2021 | 6.0% | -73.9% |
| 2022 | 4.9% | -17.9% |
| 2023 | 8.7% | +76.5% |
| 2024 | 6.9% | -21.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.2% | 0.1% | 4.4% | 8 |
| 1980s | 3.8% | 2.5% | 5.9% | 10 |
| 1990s | 2.3% | -0.7% | 4.7% | 10 |
| 2000s | 3.6% | -2.1% | 10.2% | 10 |
| 2010s | 5.6% | 3.1% | 10.6% | 10 |
| 2020s | 9.9% | 4.9% | 23.1% | 5 |
Countries ranked near North America
More public sector data for North America
- Arms imports 1.36 billion SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 3.56 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 56.45 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 1.36 billion SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 2,692 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0325 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 8.84 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 1.03 trillion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 48.39 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in North America?
- Net incurrence of liabilities, total in North America was 6.9% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in North America?
- The highest recorded value was 23.1% in 2020.
- What is the lowest net incurrence of liabilities, total recorded in North America?
- The lowest recorded value was -2.1% in 2000.
- How does North America rank for net incurrence of liabilities, total?
- North America ranks 3rd out of 21 groups with data for 2024.
- Is net incurrence of liabilities, total rising or falling in North America?
- Over the last ten years it is up 76.1%. The long-run trend across the full record is volatile.
- Where does this North America data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.