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.

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.

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.

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

Central government debt, total (% of GDP) in Canada was reported at 61.34 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Canada - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Canada debt to gdp ratio for 2023 was 62.23%, a 0.81% increase from 2022.

<ul style='margin-top:20px;'>

<li>Canada debt to gdp ratio for 2022 was <strong>61.42%</strong>, a <strong>9.66% decline</strong> from 2021.</li>
<li>Canada debt to gdp ratio for 2021 was <strong>71.07%</strong>, a <strong>3.48% decline</strong> from 2020.</li>
<li>Canada debt to gdp ratio for 2020 was <strong>74.55%</strong>, a <strong>21.19% increase</strong> from 2019.</li>
</ul>Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

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.

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.

Canada CA: Gross Public Debt: % of GDP: General Government: External Creditors data was reported at 28.005 % in Dec 2024. This records an increase from the previous number of 26.618 % for Sep 2024. Canada CA: Gross Public Debt: % of GDP: General Government: External Creditors data is updated quarterly, averaging 20.131 % from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 30.963 % in Mar 1995 and a record low of 9.329 % in Dec 2007. Canada CA: Gross Public Debt: % of GDP: General Government: External Creditors data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.QPSD: Gross Public Debt: % of GDP: General Government.

This table contains 29 series, with data for years 2009 - 2019 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 item: Canada) Central government debt (29 items: A. Federal debt (accumulated deficit), (B - E); B. Net debt, (C - D); C. Liabilities, gross debt; Accounts payable and accrued liabilities; ...).

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

Private Debt to GDP in Canada decreased to 163.25 percent in 2024 from 164 percent in 2023. Canada Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Canada PBO Forecast: Federal Debt: % of GDP data was reported at 39.200 % in 2030. This records a decrease from the previous number of 40.100 % for 2029. Canada PBO Forecast: Federal Debt: % of GDP data is updated yearly, averaging 40.800 % from Mar 2016 (Median) to 2030, with 15 observations. The data reached an all-time high of 49.300 % in 2021 and a record low of 30.800 % in 2020. Canada PBO Forecast: Federal Debt: % of GDP data remains active status in CEIC and is reported by Office of the Parliamentary Budget Officer. The data is categorized under Global Database’s Canada – Table CA.F011: Federal Government Debt: Forecast: Parliamentary Budget Officer.

Graph and download economic data for Household Debt to GDP for Canada (HDTGPDCAQ163N) from Q1 2005 to Q4 2024 about Canada, debt, households, and GDP.

Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities data was reported at 46.370 % in Dec 2024. This records an increase from the previous number of 46.229 % for Sep 2024. Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities data is updated quarterly, averaging 35.320 % from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 56.169 % in Jun 1996 and a record low of 23.968 % in Dec 2007. Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.QPSD: Gross Public Debt: % of GDP: Central 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.

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

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.

Canada CA: Gross Public Debt: % of GDP: Central Government: External Creditors data was reported at 18.693 % in Dec 2024. This records an increase from the previous number of 17.343 % for Sep 2024. Canada CA: Gross Public Debt: % of GDP: Central Government: External Creditors data is updated quarterly, averaging 10.193 % from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 18.693 % in Dec 2024 and a record low of 3.378 % in Dec 2007. Canada CA: Gross Public Debt: % of GDP: Central Government: External Creditors data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Canada – Table CA.World Bank.QPSD: Gross Public Debt: % of GDP: Central Government.

Outstanding international public debt securities to GDP (%) in Canada was reported at 9.28 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Canada - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.