The ratio of national debt to gross domestic product (GDP) of Canada was 111.3 percent in 2024. Between 1980 and 2024, the ratio rose by 66.71 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is forecast to decline by 3.41 percentage points from 2024 to 2030, fluctuating as it trends downward.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Canada recorded a Government Debt to GDP of 110.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Canada Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Canada Government Debt: % of GDP

• Canada Government debt accounted for 69.4 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 66.9 % in the previous year.
• Canada government debt to GDP ratio data is updated yearly, available from Mar 1962 to Mar 2024.
• The data reached an all-time high of 83.6 % in Mar 1996 and a record low of 33.1 % in Mar 1977.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and quarterly Nominal GDP. The Department of Finance Canada provides Government Debt in local currency. Statistics Canada provides Nominal GDP in local currency based on CSNA 2012/SNA 2008. Government Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about Canada Government Debt: % of GDP

• In the latest reports, Canada National Government Debt reached 1,519.8 USD bn in Mar 2024.
• The country's Nominal GDP reached 520.3 USD bn in Mar 2023.

Graph and download economic data for Central government debt, total (% of GDP) for Canada (DEBTTLCAA188A) from 1990 to 2024 about Canada, debt, government, and GDP.

Quarterly gross and net debt to gross domestic product for federal and other levels of general government.

Actual value and historical data chart for Canada Central Government Debt Total Percent Of GDP

Of the G7 countries, Japan had the highest net debt in terms of share of gross domestic product (GDP) between 2010 and 2024. That year, Japan's government's net debt reached an estimated *** percent of its total GDP. Italy had the second highest debt rate at *** percent of its GDP, whereas Canada had the lowest at only ** percent.

Graph and download economic data for General government gross debt for Canada (GGGDTACAA188N) from 1980 to 2024 about Canada, debt, gross, and government.

Key information about Canada National Government Debt

• Canada National Government Debt reached 1,517.7 USD bn in Mar 2025, compared with 1,519.8 USD bn in the previous year.
• Canada National Government Debt data is updated yearly, available from Mar 1962 to Mar 2025.
• The data reached an all-time high of 1,519.8 USD bn in Mar 2024 and a record low of 20.5 USD bn in Mar 1962.

*This indicator will be no longer available from March 2026, 4th onwards. CEIC has a plan to remove the non-standard frequency indicator after the standard frequency indicator has been added and be available on this table. CEIC converts annual Government Debt into USD. The Department of Finance Canada provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt is in annual frequency, ending in March of each year.


Related information about Canada National Government Debt

• In the latest reports, Canada Consolidated Fiscal Balance recorded a deficit equal to 1.3 % of its Nominal GDP in Sep 2025.
• The country's Government debt accounted for 69.3 % of its Nominal GDP in Mar 2025.
• Canada Nominal GDP reached 590.9 USD bn in Sep 2025.

General government gross domestic and foreign debt, and financial liabilities by category, quarterly.

Canada FIN Forecast: Federal Debt: % of GDP data was reported at 38.600 % in 2030. This records a decrease from the previous number of 39.500 % for 2029. Canada FIN Forecast: Federal Debt: % of GDP data is updated yearly, averaging 38.600 % from Mar 1996 (Median) to 2030, with 32 observations. The data reached an all-time high of 75.100 % in 1997 and a record low of 28.500 % in 2009. Canada FIN Forecast: Federal Debt: % of GDP data remains active status in CEIC and is reported by Department of Finance Canada. The data is categorized under Global Database’s Canada – Table CA.F010: Federal Government Debt: Forecast: Department of Finance.

Households Debt in Canada decreased to 99.58 percent of GDP in the first quarter of 2025 from 100.39 percent of GDP in the fourth quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Outstanding International Public Debt Securities to GDP for Canada (DDDM06CAA156NWDB) from 1980 to 2020 about public, Canada, debt, securities, and GDP.

The national debt of Canada was ************* U.S. dollars in 2024. Between 1980 and 2024, the national debt rose by ************* U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The national debt will steadily rise by ************** U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.

Canada FIN Forecast: Long Term: Federal Debt: % of GDP data was reported at 2.400 % in 2056. This records a decrease from the previous number of 8.900 % for 2051. Canada FIN Forecast: Long Term: Federal Debt: % of GDP data is updated yearly, averaging 24.600 % from Mar 2019 (Median) to 2056, with 12 observations. The data reached an all-time high of 30.400 % in 2022 and a record low of 2.400 % in 2056. Canada FIN Forecast: Long Term: Federal Debt: % of GDP data remains active status in CEIC and is reported by Department of Finance Canada. The data is categorized under Global Database’s Canada – Table CA.F010: Federal Government Debt: Forecast: Department of Finance.

In 2024, the net government debt to gross domestic product (GDP) ratio of Japan was estimated at about *** percent. The government debt ratio of the United States was over ** percent. Saudi Arabia, who had the lowest net debt, had a debt ratio of only **** percent.

Quarterly total debt to equity and credit market debt to equity for private non-financial corporations.

Graph and download economic data for General Government Gross Debt for Canada (CANGGXWDGGDP) from 1980 to 2030 about Canada, debt, gross, and government.

Canada Government Expenditure: as % of GDP: Public Debt Charges data was reported at 1.600 % in 2024. This records an increase from the previous number of 1.200 % for 2023. Canada Government Expenditure: as % of GDP: Public Debt Charges data is updated yearly, averaging 2.350 % from Mar 1967 (Median) to 2024, with 58 observations. The data reached an all-time high of 6.500 % in 1991 and a record low of 0.900 % in 2021. Canada Government Expenditure: as % of GDP: Public Debt Charges data remains active status in CEIC and is reported by Department of Finance Canada. The data is categorized under Global Database’s Canada – Table CA.F002: Government Revenue and Expenditure: Annual.

The ratio of national debt to gross domestic product (GDP) of Canada was approximately 110.77 percent in 2024. Between 1980 and 2024, the ratio rose by around 66.18 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is forecast to decline by about 6.66 percentage points from 2024 to 2030, fluctuating as it trends downward.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.