overstatement vs exaggeration

overstatement and exaggeration both are nouns.

Word	Noun	Adjective	Verb	Adverb
overstatement	Yes	No	No	No
exaggeration	Yes	No	No	No

As nouns, overstatement and exaggeration are synonyms defined as:

overstatement and exaggeration: making to seem more important than it really is

Other synonyms of overstatement include magnification.

overstatement (noun)	exaggeration (noun)
making to seem more important than it really is	the act of making something more noticeable than usual
	making to seem more important than it really is
	extravagant exaggeration