Japan recorded a Government Debt to GDP of 236.70 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Japan Government Debt to GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The statistic shows the national debt of Japan from 2020 to 2023, with projections up until 2030. The amount of Japan's national debt in 2023 amounted to about 9.91 trillion U.S. dollar. In a ranking of debt to GDP per country, Japan is thus currently ranked first. Japan's economic power With one of the largest gross domestic products (GDP), Japan is among the largest economies in the world. However, ever since the global financial crisis, Japan's GDP - like many others - has been slightly unstable; Japan even reported a negative GDP growth in comparison to the previous year in 2011 and in 2014. Still, it is estimated that gross domestic product in Japan will continue to thrive over the next decade. One indicator is Japan's inflation rate: Despite the aforementioned economic slumps, Japan has managed to maintain one of the lowest inflation rates in the world, and it also reduced its unemployment rate. Between 2010 and 2013, the unemployment rate in Japan decreased by approximately one percent, and it is expected to drop even lower over the next years. Recently, Japan has been reporting a trade deficit, meaning the value of its imports exceeds the value of its exports. Most of these imports have come from China and the United States. The trade deficit is one of the causes for in an increase of the national debt. It is estimated that the national debt in relation to the GDP will increase further until 2020.

Key information about Japan Government Debt: % of GDP

• Japan Government debt accounted for 216.2 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 217.2 % in the previous quarter.
• Japan government debt to GDP ratio data is updated quarterly, available from Dec 1994 to Dec 2024.
• The data reached an all-time high of 225.8 % in Mar 2021 and a record low of 55.9 % in Dec 1994.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bank of Japan provides Government Debt in local currency. The Economic and Social Research Institute provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about Japan Government Debt: % of GDP

• In the latest reports, Japan National Government Debt reached 9,396.6 USD bn in Apr 2023.
• The country's Nominal GDP reached 1,080.1 USD bn in Mar 2023.

As of March 31, 2025, the central government debt in Japan comprised around ******* trillion Japanese yen in outstanding government bonds and borrowings and close to **** trillion yen in government-guaranteed debts. Outstanding government bonds amounted to about ******* trillion yen.

The statistic shows Japan's national debt from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2023, the national debt of Japan amounted to about 239.97 percent of the gross domestic product. An eye on Japan’s national debt Japan’s national debt ranks first among countries with the highest debt levels in the world, far surpassing the debt levels of Greece - which ranks number two - whose financial crisis has been in the spotlight recently. Italy is third, followed by Jamaica, Lebanon and Enritrea. Currently, Japan’s national debt amounts more than a thousand trillion yen and the country’s debt is predicted to keep rising for the foreseeable future, albeit only slightly. Japan’s national debt is not without consequence for the global economy, because the country claims the fourth-largest share in global gross domestic product. Therefore, the effects on the global economy would and could have a much greater global impact than that of a country such as Greece - considering its share of the global economy adjusted for purchase power parity was less than 0.29 percent in 2011. The debt levels of China, the United States and India should also be watched closely as they together make up the largest share of global GDP. At the moment, Japan’s inflation rate is among the lowest in the world, but as Japan attempts to reduce its national debt, this could change.

Central government debt, total (% of GDP) in Japan was reported at 216 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Japan Central Government Debt data was reported at 1,325,727.600 JPY bn in Feb 2025. This records an increase from the previous number of 1,319,638.000 JPY bn for Jan 2025. Japan Central Government Debt data is updated monthly, averaging 663,044.100 JPY bn from Apr 1982 (Median) to Feb 2025, with 515 observations. The data reached an all-time high of 1,326,530.400 JPY bn in Apr 2024 and a record low of 114,192.300 JPY bn in Jul 1982. Japan Central Government Debt data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.F029: Central Government Debt. [COVID-19-IMPACT]

Central government debt, total (current LCU) in Japan was reported at 1.2101681E+15 LCU in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Central government debt, total (current LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The Japanese government's initial general account budget for the fiscal year 2025 allocated around ********* of the expenditure to social security. National debt service, consisting of redemption of the national debt and interest payments accounted for **** percent of the planned expenditure.

Key information about Japan External Debt: Short Term

• Japan External Debt: Short Term value stood at 3,143.9 USD bn in Dec 2024, compared with 3,340.0 USD bn in the previous quarter.
• Japan External Debt: Short Term data is updated quarterly, available from Mar 2003 to Dec 2024.
• The data reached an all-time high of 3,495.4 USD bn in Mar 2020 and a record low of 825.5 USD bn in Mar 2003.

CEIC calculates Short Term External Debt as the sum of Short Term External Debt breakdowns for General Government, Central Bank, Deposit Taking Corporations excl Central Bank and Other Sectors and converts it into USD. The Bank of Japan provides Short Term External Debt in local currency based on BPM6. The Federal Reserve Board period end market exchange rate is used for currency conversions. Short Term External Debt prior to Q1 2014 is based on BPM5.


Related information about Japan External Debt: Short Term

• In the latest reports of Japan, Current Account recorded a surplus of 14.2 USD bn in Apr 2023.
• Foreign Direct Investment (FDI) fell by 167.1 USD mn in Jan 2025.
• Japan Direct Investment Abroad expanded by 8.3 USD bn in Jan 2025.
• Its Foreign Portfolio Investment increased by 4.8 USD bn in Dec 2024.
• The country's Nominal GDP was reported at 1,080.1 USD bn in Mar 2023.

Private Debt to GDP in Japan decreased to 172.40 percent in 2023 from 176.80 percent in 2022. Japan Private Debt to GDP - values, historical data, forecasts and news - updated on August of 2025.

Japan JP: General Government: Share of Outstanding Marketable Debt to Refinance: Within Coming Period data was reported at 0.193 Ratio in 2026. This stayed constant from the previous number of 0.193 Ratio for 2025. Japan JP: General Government: Share of Outstanding Marketable Debt to Refinance: Within Coming Period data is updated yearly, averaging 0.491 Ratio from Dec 2013 (Median) to 2026, with 14 observations. The data reached an all-time high of 0.802 Ratio in 2014 and a record low of 0.193 Ratio in 2026. Japan JP: General Government: Share of Outstanding Marketable Debt to Refinance: Within Coming Period data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Government Accounts: General Government: Forecast: OECD Member: Annual. RFSH - Share of outstanding marketable debt to refinance within coming period

In the fiscal year 2024, the outstanding Japanese government bonds (JGBs) amounted to ******* trillion Japanese yen. The outstanding amount of JGBs was forecast to increase to ******* trillion yen in fiscal 2025, according to the initial budget. Japanese government bonds are debt securities issued to finance government spending.

Gross Ext. Debt Pos., General Government, All maturities, All instruments, USD in Japan was reported at 1198650188449 USD in 2025, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Gross Ext. Debt Pos., General Government, All maturities, All instruments, USD - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Interest payments (% of revenue) in Japan was reported at 8.4376 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Interest payments (% of revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Japan LOA: EG: Exp: Public Debt data was reported at 11.000 JPY tn in 2034. This records a decrease from the previous number of 11.100 JPY tn for 2033. Japan LOA: EG: Exp: Public Debt data is updated yearly, averaging 12.550 JPY tn from Mar 2003 (Median) to 2034, with 32 observations. The data reached an all-time high of 13.900 JPY tn in 2006 and a record low of 10.900 JPY tn in 2025. Japan LOA: EG: Exp: Public Debt data remains active status in CEIC and is reported by Cabinet Office. The data is categorized under Global Database’s Japan – Table JP.F009: Central and Local Government: Public Finance.

The combined outstanding long-term debt of central and local governments in Japan was estimated to reach 1,315 trillion Japanese yen by the end of the fiscal year 2024. For the end of March 2025, the central government long-term debt was projected to reach 1,136 trillion yen.

Graph and download economic data for Amount Outstanding of International Debt Securities for Issuers in General Government Sector, All Maturities, Residence of Issuer in Japan (IDSGAMRIAOJP) from Q1 1971 to Q1 2025 about sector, Japan, maturity, debt, residents, securities, and government.

Graph and download economic data for Amount Outstanding Due within One Year of International Debt Securities for General Government Sector, Residence of Issuer in Japan (IDS1YMAORIGGJP) from Q1 1971 to Q1 2025 about 1-year, sector, Japan, debt, residents, securities, and government.

Gross Ext. Debt Pos., General Government, Long-term, Debt securities, USD in Japan was reported at 629986502319 USD in 2025, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Gross Ext. Debt Pos., General Government, Long-term, Debt securities, USD - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.