Graph and download economic data for General government gross debt for Japan (GGGDTAJPA188N) from 1980 to 2022 about Japan, gross, debt, and government.

The statistic shows the national debt of Japan from 2019 to 2021, with projections up until 2029. The amount of Japan's national debt in 2022 amounted to about 9.16 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.

The statistic shows Japan's national debt from 2019 to 2022 in relation to gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of Japan amounted to about 256.3 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.

In 2024, the gross government debt of Japan amounted to 255 percent of the country's gross domestic product (GDP), compared to 123 percent of the United States. This was an increase for both countries over 2001 levels, Meanwhile, Germany had the lowest government debt ratio at only 64 percent.

Graph and download economic data for Outstanding Domestic Private Debt Securities to GDP for Japan (DDDM03JPA156NWDB) from 1997 to 2020 about Japan, debt, securities, domestic, private, and GDP.

Households Debt in Japan decreased to 65.10 percent of GDP in the third quarter of 2024 from 65.60 percent of GDP in the second quarter of 2024. This dataset provides - Japan Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, net government debt in Japan accounted for 155.8 percent of the gross domestic product (GDP). The share reached a record high in 2020.

Private Debt to GDP in Japan increased to 245.70 percent in 2022 from 242.40 percent in 2021. Japan Private Debt to GDP - values, historical data, forecasts and news - updated on March of 2025.

The graph shows national debt in China related to gross domestic product until 2023, with forecasts to 2029. In 2023, gross national debt ranged at around 84 percent of the national gross domestic product.

The debt-to-GDP ratio

In economics, the ratio between a country's government debt and its gross domestic product (GDP) is generally defined as the debt-to-GDP ratio. It is a useful indicator for investors to measure a country's ability to fulfill future payments on its debts. A low debt-to-GDP ratio also suggests that an economy produces and sells a sufficient amount of goods and services to pay back those debts. Among the important industrial and emerging countries, Japan displayed one of the highest debt-to-GDP ratios. In 2023, the estimated national debt of Japan amounted to about 255 percent of its GDP, up from around 180 percent in 2004. One reason behind Japan's high debt load lies in its low annual GDP growth rate.

Development in China

China's national debt related to GDP grew slowly but steadily from around 23 percent in 2000 to 34 percent in 2012, only disrupted by the global financial crisis in 2008. In recent years, China increased credit financing to spur economic growth, resulting in higher levels of debt. China's real estate crisis and a difficult global economic environment require further stimulating measures by the government and will predictably lead to even higher debt growth in the years ahead.

The outstanding value of Japan's general government debt securities has shown an upward trend from 2000 to the first quarter of 2024, rising from approximately 4.3 trillion U.S. dollars in 2000 to approximately eight trillion U.S. dollars in early 2024. The peak occurred in 2011, when government debt securities recorded a value of over 11 trillion U.S. dollars.

The statistic shows the national debt of the United States from 2019 to 2022 in relation to the gross domestic product (GDP), with projections up until 2029. In 2022, the national debt of the United States was at around 120.03 percent of the gross domestic product. See the US GDP for further information. US finances There has been a dramatic increase in the public debt of the United States since 1990, although the month-to-month change has been quite stable over the last few months. Public debt is defined as the amount of money borrowed by a country to cover budget deficits. A ranking of individual state debt in the United States shows that California is leading by a clear margin, with more than double the amount of runner-up New York. Vermont, North Dakota and South Dakota are the states with the lowest amount of debt. Even before the recession of 2008, the national debt of the United States had been increasing steadily and excessively, and it is predicted to rise even further. Budget cuts and fewer job opportunities as a result of the crisis are taking their toll on the American economy, which is still recovering. Trade figures as well as unemployment are still below average. Subsequently, the national debt and the national debt of the United States per capita have more or less quadrupled since the 1990s. Interestingly, the United States is not even among the top ten of countries with the highest public debt in relation to gross domestic product in international comparison. Japan, Greece and Italy – among others – report far higher figures than the United States.

External Debt in Japan increased to 678638 JPY Billion in the fourth quarter of 2024 from 663482 JPY Billion in the third quarter of 2024. This dataset provides - Japan External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Japan Private Debt: % of Nominal GDP

• Japan Private Debt accounted for 121.83 % of its Nominal GDP in Sep 2024, compared with a ratio of 122.88 % in the previous quarter
• Japan Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Dec 2001 to Sep 2024, with an average share of 101.31 %
• The data reached an all-time high of 123.64 % in Mar 2024 and a record low of 90.76 % in Sep 2004

CEIC calculates quarterly Private Debt as % of Nominal GDP from quarterly Private Debt and quarterly Nominal GDP. The International Monetary Fund provides Private Debt in local currency. Economic and Social Research Institute provides Nominal GDP in local currency.

This scatter chart displays urban land area (km²) against central government debt (% of GDP) and is filtered where the country is Japan. The data is about countries per year.

Outstanding international public debt securities to GDP (%) in Japan was reported at 0.14367 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Graph and download economic data for Amount Outstanding of Total Debt Securities in General Government Sector, All Maturities, Residence of Issuer in Japan (TDSAMRIAOGGJP) from Q4 1997 to Q4 2022 about sector, Japan, maturity, debt, residents, securities, and government.

This scatter chart displays renewable energy consumption (% of total final energy consumption) against central government debt (% of GDP) and is filtered where the country is Japan. The data is about countries per year.

This bar chart displays central government debt (% of GDP) by countries yearly and is filtered where the country is Japan. The data is about countries per year.

Key information about Japan Debt Service Ratio: Households

• Japan Debt Service Ratio: Households was reported at 7.700 % in Sep 2024
• This records a decrease from the previous number of 7.800 % for Jun 2024
• Japan Debt Service Ratio: Households data is updated quarterly, averaging 7.500 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 9.000 % in Mar 2002 and a record low of 7.000 % in Jun 2017
• Japan Debt Service Ratio: Households 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: G2 Households (HH) and Non-Profit Institution Serving Households (NPISHs): Quarterly