The national debt in Canada was forecast to continuously increase between 2024 and 2029 by in total 255.5 billion U.S. dollars (+11.03 percent). After the tenth consecutive increasing year, the national debt is estimated to reach 2.6 trillion U.S. dollars and therefore a new peak in 2029. Notably, the national debt was continuously increasing over the past years.As defined by the International Monetary Fund, 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.Find more statistics on other topics about Canada with key insights such as the gross domestic product per capita, the number of employed people, and the gross domestic product in current prices.

Households Debt in Canada increased to 100.39 percent of GDP in the fourth quarter of 2024 from 100.32 percent of GDP in the third quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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; ...).

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.

The ratio of national debt to gross domestic product (GDP) in Canada was forecast to continuously decrease between 2024 and 2029 by in total 9.8 percentage points. According to this forecast, in 2029, the ratio will have decreased for the sixth consecutive year to 96.26 percent. Depicted here is the general government gross debt in relation to the country's GDP. According to the International Monetary Fund, 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. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more statistics on other topics about Canada with key insights such as the gross domestic product per capita, the number of employed people, and the unemployment rate.

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

Private Debt to GDP in Canada increased to 269.10 percent in 2023 from 268 percent in 2022. Canada Private Debt to GDP - values, historical data, forecasts and news - updated on March of 2025.

This table contains 13 series, with data for years 1867 - 31-MAR-08 not all combinations necessarily have data for all years), and was last released on 2009-08-28. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Government debt (13 items: Gross federal government debt;Marketable bonds;Treasury bills;Unmatured debt ...).

Key information about Canada Private Debt: % of Nominal GDP

• Canada Private Debt accounted for 212.62 % of its Nominal GDP in Dec 2024, compared with a ratio of 212.27 % in the previous quarter
• Canada Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1969 to Dec 2024, with an average share of 129.19 %
• The data reached an all-time high of 237.84 % in Dec 2020 and a record low of 89.28 % in Sep 1976

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as a sum of Loans to Private Non-Financial Corporations and Household sectors. Statistics Canada provides Private Debt and Nominal GDP in local currency. Private Debt prior to Q1 1990 is sourced from the Bank of Canada.

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 156 percent of its total GDP. Italy had the second highest debt rate at 127 percent of its GDP, whereas Canada had the lowest at only 14 percent.

Key information about Canada Household Debt

• Canada Household Debt reached 2,110.9 USD bn in Dec 2024, compared with the reported number of 2,161.8 USD bn in the previous month
• Canada Household Debt: USD mn data is updated monthly, available from Jan 1969 to Dec 2024
• The data reached an all-time high of 2,225.1 USD bn in Sep 2024 and a record low of 22.2 USD bn in Jan 1969

CEIC converts monthly Household Debt into USD. Statistics Canada provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics. Household Debt prior to January 1990 is sourced from the Bank of Canada.


Further information about Canada Household Debt

• In the latest reports, Canada Household Debt accounted for 99.2 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in Canada increased 1,873.3 USD bn YoY in Nov 2024
• Canada Foreign Exchange Reserves was measured at 90.2 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 2.0 Months of Import in Dec 2024
• Canada Domestic Credit reached 4,647.3 USD bn in Nov 2024, representing an increased of 3.9 % YoY

External Debt in Canada increased to 4555031 CAD Million in the fourth quarter of 2024 from 4286827 CAD Million in the third quarter of 2024. This dataset provides - Canada External Debt - 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.

Canada Federal Government Debt: Non-Financial Assets data was reported at 116,603.000 CAD mn in 2024. This records an increase from the previous number of 109,744.000 CAD mn for 2023. Canada Federal Government Debt: Non-Financial Assets data is updated yearly, averaging 54,822.000 CAD mn from Mar 1984 (Median) to 2024, with 41 observations. The data reached an all-time high of 116,603.000 CAD mn in 2024 and a record low of 14,604.000 CAD mn in 1984. Canada Federal Government Debt: Non-Financial Assets 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.F009: Federal Government Debt: Annual.

Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities and Loans data was reported at 46.688 % in Sep 2024. This records an increase from the previous number of 46.350 % for Jun 2024. Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities and Loans data is updated quarterly, averaging 35.844 % from Mar 1995 (Median) to Sep 2024, with 119 observations. The data reached an all-time high of 57.250 % in Jun 1996 and a record low of 24.021 % in Dec 2007. Canada CA: Gross Public Debt: % of GDP: Central Government: Debt Securities and Loans 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.

During the Great Recession of 2008-2009, the advanced economies of the G7 experienced a period of acute financial crises, downturns in the non-financial economy, and political instability. The governments of these countries in many cases stepped in to backstop their financial sectors and to try to stimulate their economies. The scale of these interventions was large by historical standards, with observers making comparisons to the measures of the New Deal which the U.S. undertook in the 1930s to end the Great Depression.

The bailouts of financial institutions and stimulus packages caused the government debt ratios of the United States, United Kingdom, and Japan in particular to rise sharply. The UK's government debt ratio almost doubled due to the bailouts of Northern Rock and Royal Bank of Scotland. On the other hand, the increases in government debt in the Eurozone were more measured, due to the comparative absence of stimulus spending in these countries. They would later be hit hard during the Eurozone crisis of the 2010s, when bank lending to the periphery of the Eurozone (Portugal, Spain, Ireland and Greece in particular) would trigger a sovereign debt crisis. The Canadian government, led by a Conservative premier, engaged in some fiscal stimulus to support its economy, but these packages were small in comparison to that in most other of the G7 countries.

Interest payments (% of revenue) in Canada was reported at 7.4394 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Canada - Interest payments (% of revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Key information about Canada Debt Service Ratio: Private Non-Financial Sector

• Canada Debt Service Ratio: Private Non-Financial Sector was reported at 25.200 % in Sep 2024
• This records an increase from the previous number of 24.900 % for Jun 2024
• Canada Debt Service Ratio: Private Non-Financial Sector data is updated quarterly, averaging 20.800 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 25.200 % in Sep 2024 and a record low of 18.500 % in Jun 2006
• Canada Debt Service Ratio: Private Non-Financial Sector data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G1 Private Non-Financial Sector (PNF): Quarterly

Key information about Canada External Debt: % of GDP

• Canada External Debt accounted for 148.4 % of the country's Nominal GDP in 2024, compared with the ratio of 139.5 % in the previous year.
• Canada External Debt: % of Nominal GDP data is updated yearly, available from Dec 1990 to Dec 2024.
• The data reached an all-time high of 149.1 % in Dec 2020 and a record low of 56.2 % in Dec 1990.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and quarterly Nominal GDP. Statistics Canada provides External Debt in local currency and Nominal GDP in local currency.


Related information about Canada External Debt: % of GDP

• In the latest reports of Canada, Current Account recorded a deficit of 4.6 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) increased by 20.0 USD bn in Dec 2024.
• Canada Direct Investment Abroad expanded by 28.5 USD bn in Dec 2024.
• Its Foreign Portfolio Investment increased by 35.6 USD bn in Dec 2024.
• The country's External Debt reached 3,163,216.0 in Dec 2024.
• The country's Nominal GDP was reported at 520.3 USD bn in Mar 2023.

Canada CA: Gross Public Debt: % of GDP: General Government: Debt Securities, Loans, Currency and Deposits data was reported at 94.447 % in Sep 2024. This records an increase from the previous number of 93.501 % for Jun 2024. Canada CA: Gross Public Debt: % of GDP: General Government: Debt Securities, Loans, Currency and Deposits data is updated quarterly, averaging 77.678 % from Mar 1995 (Median) to Sep 2024, with 119 observations. The data reached an all-time high of 103.094 % in Dec 2020 and a record low of 53.708 % in Mar 2008. Canada CA: Gross Public Debt: % of GDP: General Government: Debt Securities, Loans, Currency and Deposits 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.