Federal Reserve Economic Data

Federal Debt Held by Agencies and Trusts as Percent of Gross Domestic Product (HBATGDQ188S)

Q2 2025: 23.73337
Updated: Sep 25, 2025 7:58 AM CDT
Q2 2025:  23.73337  
Q1 2025:  24.23710  
Q4 2024:  24.67539  
Q3 2024:  24.19030  
Q2 2024:  24.69385  
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Units:

Percent of GDP,
Seasonally Adjusted

Frequency:

Quarterly

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Notes

Source: U.S. Office of Management and Budget  

Source: Federal Reserve Bank of St. Louis  

Release: Debt to Gross Domestic Product Ratios

Units:  Percent of GDP, Seasonally Adjusted

Frequency:  Quarterly

Notes:

Federal Debt Held by Agencies & Trusts as Percent of Gross Domestic Product (HBATGDQ188S) was first constructed by the Federal Reserve Bank of St. Louis in October 2012. It is calculated using Federal Debt Held by Agencies & Trusts (FDHBATN) and Gross Domestic Product, 1 Decimal (GDP):
HBATGDQ188S = ((FDHBATN/1000)/GDP)*100
FDHBATN/1000 transforms FDHBATN from millions of dollars to billions of dollars.

Suggested Citation:

U.S. Office of Management and Budget and Federal Reserve Bank of St. Louis, Federal Debt Held by Agencies and Trusts as Percent of Gross Domestic Product [HBATGDQ188S], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HBATGDQ188S, .

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