The statistic shows the 20 countries with the lowest national debt in 2023 in relation to the gross domestic product (GDP). The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance. In 2023, Russia's estimated level of national debt reached about 19.66 percent of the GDP, ranking 17th of the countries with the lowest national debt. National debt and GDP The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts, however these countries should not retain newer debts in the process. Many economists believe that if a country is able to produce more without impairing its own economical growth, it can be considered more stable, particularly for the future. However, the listed countries, with the exception of Russia and Saudi Arabia, are not necessarily economic first-world powers. Additionally, economically powerful countries such as the United States and France maintain one of the highest debt-to-GDP ratios, signifying that occurring debt does not necessarily damage the state of the economy and is sometimes necessary in order to help develop it. Saudi Arabia has maintained one of the lowest debt-to-GDP ratios due to its high export rates, which primarily consist of petroleum and petroleum goods. Given the significance of oil in today’s world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This statistic shows the national debt in the member states of the European Union in the second quarter of 2024. The data refer to the entire state and are comprised of the debts of central government, provinces, municipalities, local authorities and social security. In the second quarter of 2024, Greece's national debt amounted to about 369.4 billion euros. National debt in the EU member states National or government debt is the debt owed by a central government. No country in the European Union is debt-free, although some are able to manage their debts better than others. Debt is influenced by the economic situation of a country, factors such as unemployment, the rate of inflation or the trade figures have a significant impact on its extent, and are, in turn, influenced by the national debt. The economic crisis has hit some EU countries harder than others; Spain, Ireland and Greece especially have been struggling economically since 2008. Greece’s national debt has skyrocketed over the past few years, and the same can be said about Spain and Ireland. Other EU countries, like France and the United Kingdom have been affected as well, albeit not as severely. The national debt of a country can be reduced by applying several measures: money can be borrowed (for example in the form of rescue packages), austerity programs can be enforced, taxes can be increased or central banks can inject liquidity into the economy through the implementation of quantitative easing policies. Some critics of the policy claim that this could lead to a higher level of inflation, which, if severe enough, could have a detrimental impact on living standards.

Brunei Darussalam in Southeast Asia is the country with the lowest public debt rate worldwide. It was followed by Kuwait and Turkmenistan. Meanwhile, Sudan has the highest public debt rate worldwide.

The external debt (or the foreign debt), at any given time, is the outstanding amount of the actual current (and not contingent) liabilities that require payment(s) of principal and/or interest by the debtor at some point(s) in the future and that are owed to non-residents by residents of an economy. The external debt is the portion of a country's debt that was borrowed from creditors outside the country, including commercial banks, other governments or international financial institutions (such as the International Monetary Fund (IMF) and the World Bank). The assets/liabilities include debt securities, such as bonds, notes and money market instruments, as well as loans, deposits, currency, trade credits and advances due to non-residents. The loans must usually be paid in the currency in which they was made. In order to earn the needed currency, the borrowing country may sell and export goods to the lender's country. The data are expressed in % of GDP. Copyright notice and free re-use of data on: https://ec.europa.eu/eurostat/about-us/policies/copyright

Key information about Algeria Government Debt: % of GDP

• Algeria Government debt accounted for 48.9 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 47.6 % in the previous year.
• Algeria government debt to GDP ratio data is updated yearly, available from Dec 1997 to Dec 2023.
• The data reached an all-time high of 54.5 % in Dec 2021 and a record low of 6.3 % in Dec 2008.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The National Office of Statistics provides Nominal GDP in local currency based on SNA 2008. Government Debt covers Central Government Domestic Debt only. Seasonally adjusted Nominal GDP is used due to unavailability of unadjusted GDP in annual frequency. Nominal GDP prior to 2001 is based on SNA 1993.


Related information about Algeria Government Debt: % of GDP

• In the latest reports, Algeria National Government Debt reached 118.6 USD bn in Dec 2023.
• The country's Nominal GDP reached 51.3 USD bn in Dec 2022.

In 2024, the national debt of India amounted to around 3.16 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

Key information about Norway Government Debt: % of GDP

• Norway Government debt accounted for 55.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 44.5 % in the previous year.
• Norway government debt to GDP ratio data is updated yearly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 55.1 % in Dec 2024 and a record low of 23.6 % in Dec 1998.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. Statistics Norway provides Government Debt in local currency and Nominal GDP in local currency.


Related information about Norway Government Debt: % of GDP

• In the latest reports, Norway National Government Debt reached 251.8 USD bn in Dec 2024.
• The country's Nominal GDP reached 128.6 USD bn in Mar 2023.

This scatter chart displays press freedom against central government debt (% of GDP) in Middle Africa. The data is about countries.

This dataset is about countries in Middle Africa. It has 10 rows. It features 3 columns: central government debt, and press freedom.

This scatter chart displays press freedom against central government debt (% of GDP) in Africa. The data is about countries.

Main data files comprise 22 variables in three subcategories of risk (political, financial, and economic) for 146 countries for 1984-2021. Data are annual averages of the components of the ICRG Risk Ratings (Tables 3B, 4B, and 5B) published in the International Country Risk Guide. Indices include: political: government stability, socioeconomic conditions, investment profile, internal conflict, external conflict, corruption, military in politics, religion in politics, law and order, ethnic tensions, democratic accountability, and bureaucratic quality; financial: foreign debt, exchange rate stability, debt service, current account, international liquidity; and economic: inflation, GDP per head, GDP growth, budget balance, current account as % of GDP. Table 2B provides annual averages of the composite risk rating. Table 3Ba provides historical political risk subcomponents on a monthly basis from May 2001-February 2022. Also includes the IRIS-3 dataset by Steve Knack and Philip Keefer, which covers the period of 1982-1997 and computed scores for six additional political risk variables: corruption in government, rule of law, bureaucratic quality, ethnic tensions, repudiation of contracts by government, and risk of expropriation. Additional data files provide country risk ratings and databanks (economic and social indicators) for new emerging markets for 2000-2009.

This statistic shows the national debt of Greece from 2020 to 2023, with projections until 2030. In 2023, the national debt in Greece was around 420.4 billion U.S. dollars. In a ranking of debt to GDP per country, Greece is currently ranked third. Greece's struggle after the financial crisis Greece is a developed country in the EU and is highly dependent on its service sector as well as its tourism sector in order to gain profits. After going through a large economic boom from the 1950s to the 1970s as well as somewhat high GDP growth in the early to mid 2000s, Greece’s economy took a turn for the worse and struggled intensively, primarily due to the Great Recession, the Euro crisis as well as its own debt crisis. National debt within the country saw significant gains over the past decades, however roughly came to a halt due to financial rescue packages issued from the European Union in order to help Greece maintain and improve their economical situation. The nation’s continuous rise in debt has overwhelmed its estimated GDP over the years, which can be attributed to poor government execution and unnecessary spending. Large sums of financial aid were taken from major European banks to help balance out these government-induced failures and to potentially help refuel the economy to encourage more spending, which in turn would decrease the country’s continuously rising unemployment rate. Investors, consumers and workers alike are struggling to see a bright future in Greece, whose chances of an economic comeback are much lower than that of other struggling countries such as Portugal and Italy. However, Greece's financial situation might improve in the future, as it is estimated that at least its national debt will decrease - slowly, but steadily. Still, since its future participation in the European Union is in limbo as of now, these figures can only be estimates, not predictions.

The debt solution market, valued at $6,606.5 million in 2025, is experiencing robust growth driven by several key factors. Increasing personal and corporate debt levels globally, coupled with rising awareness of debt relief options and the availability of user-friendly online platforms, are fueling market expansion. The preference for debt settlement platforms over traditional methods, due to their efficiency and cost-effectiveness, is a significant driver. Furthermore, the increasing adoption of technology, particularly sophisticated AI-driven debt management tools and mobile applications, is streamlining processes and improving accessibility for consumers. The market is segmented by platform type (debt settlement, service) and application (personal, enterprise), with the personal segment currently dominating due to the substantial volume of consumer debt. Growth is expected to be particularly strong in regions with high levels of household debt and underdeveloped financial literacy, such as parts of Asia-Pacific and South America. However, stringent regulatory environments in certain countries and concerns regarding the ethical implications of some debt relief practices pose challenges to market growth. The competitive landscape is characterized by a mix of established players and emerging fintech companies, driving innovation and competition. This competitive pressure, coupled with increasing regulatory scrutiny, is likely to influence pricing strategies and service offerings in the coming years. The forecast period (2025-2033) anticipates continued expansion, with growth spurred by technological advancements and a rising need for effective debt management solutions. The enterprise segment is expected to witness faster growth compared to the personal segment during the forecast period due to the increasing complexity of corporate debt management and the rise of specialized solutions catering to businesses. Geographically, North America and Europe are likely to maintain significant market share, yet developing economies in Asia-Pacific and South America are anticipated to show substantial growth potential as disposable income rises and awareness of debt management services increases. Strategies for market participants will involve enhancing technological capabilities, improving customer service, and complying with evolving regulatory frameworks. Focusing on transparent and ethical practices will be crucial to sustaining long-term market growth and establishing trust with consumers.

The Researcher Datasets from the PRS Group provide annual and monthly weighted average risks across countries from 1984 on a wealth of Political, Economic and Financial risk topics for 140 monitored countries. The components of the ICRG Financial Risk Rating are Foreign Debt as a % of GDP, Exchange Rate Stability, Debt Service as a % of Exports of Goods & Services (XGS), Current Account as a % of Exports of Goods and Services, and International Liquidity.

The statistic shows the national debt of Turkey from 2020 to 2023 in relation to the gross domestic product (GDP), with projections up until 2030. The data relate to the entire Turkish state and include government debt and the debt of the provinces, municipalities, communes as well as social security. In 2023, Turkey's national debt amounted to around 29.26 percent of the GDP. Turkey's economic situation Based on the current state of its economy, Turkey is defined as an emerging market and one of the newly industrialized countries in the world. Turkey is identified as one of the members of the G-20 major economies and is also a member of the EU Customs Union, allowing for custom-free trade amongst all member states. Like every other country's economy, Turkey’s economy is primarily made up of three different sectors; agriculture, industry and services. Over the past decade, Turkey has shifted more focus to its services sector, most notably tourism, communications and transport, while slightly decreasing its dependency on the agricultural and industrial aspects. While many other countries have struggled to recover from the 2008 global financial crisis as well as the Eurozone crisis, the Turkish economy returned to its pre-crisis form in several years and has since seen exponential economic growth and higher productivity and efficiency, more than double the amount compared to a decade prior. With regards to total GDP, government spending within the country has remained relatively low and has remained stable over the past decade, in comparison to developed EU countries, which may be spending more than they can afford.

The national debt of Germany stood at about ************* U.S. dollars in 2024. Between 1991 and 2024, the national debt rose by approximately ************* U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt will steadily rise by around ************* U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

The national debt of Ireland was estimated at approximately 236.50 billion U.S. dollars in 2024. Between 1990 and 2024, the national debt rose by around 199.63 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt is expected to drop by about 31.77 billion U.S. dollars between 2024 and 2030, showing a continuous downward movement throughout the period.

The national debt of Burkina Faso amounted to about ************* U.S. dollars in 2024. Between 2002 and 2024, the national debt rose by approximately ************* U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt will steadily rise by around ************ U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

As of July 18, 2025, the major economy with the highest yield on 10-year government bonds was Turkey, with a yield of ** percent. This is due to the risks investors take when investing in Turkey, notably due to high inflation rates potentially eradicating any profits made when using a foreign currency to investing in securities denominated in Turkish lira. Of the major developed economies, United Kingdom had one the highest yield on 10-year government bonds at this time with **** percent, while Switzerland had the lowest at **** percent. How does inflation influence the yields of government bonds? Inflation reduces purchasing power over time. Due to this, investors seek higher returns to offset the anticipated decrease in purchasing power resulting from rapid price rises. In countries with high inflation, government bond yields often incorporate investor expectations and risk premiums, resulting in comparatively higher rates offered by these bonds. Why are government bond rates significant? Government bond rates are an important indicator of financial markets, serving as a benchmark for borrowing costs, interest rates, and investor sentiment. They affect the cost of government borrowing, influence the price of various financial instruments, and serve as a reflection of expectations regarding inflation and economic growth. For instance, in financial analysis and investing, people often use the 10-year U.S. government bond rates as a proxy for the longer-term risk-free rate.