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.

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 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.

Graph and download economic data for Central government debt, total (% of GDP) for Japan (DEBTTLJPA188A) from 1990 to 2022 about Japan, debt, government, and GDP.

Key information about Japan Total Debt: % of GDP

• Japan Total Debt accounted for 1,279.3 % of the country's GDP in 2024, compared with the ratio of 1,275.9 % in the previous quarter.
• Japan Total Debt: % of GDP data is updated quarterly, available from Jun 1998 to Dec 2024.
• The data reached an all-time high of 1,339.7 % in Jun 2022 and a record low of 892.0 % in Jun 1998.

CEIC calculates quarterly Total Debt as % of Nominal GDP from quarterly Total Debt and quarterly Nominal GDP. Total Debt is calculated as Total Liabilities less Equity & Investment Fund Shares and Financial Derivatives for Financial Corporations, Non Financial Corporations, General Government, Households and NPISH sectors. The Bank of Japan provides Total Debt in local currency. Economic and Social Research Institute provides Nominal GDP in local currency.

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.

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 July of 2025.

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

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.

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

Key information about Japan External Debt: % of GDP

• Japan External Debt accounted for 111.4 % of the country's Nominal GDP in 2024, compared with the ratio of 107.7 % in the previous year.
• Japan External Debt: % of Nominal GDP data is updated yearly, available from Dec 2003 to Dec 2024.
• The data reached an all-time high of 111.4 % in Dec 2024 and a record low of 28.1 % in Dec 2003.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. The Bank of Japan provides External Debt in local currency based on BPM6. Economic and Social Research Institute provides Nominal GDP in local currency. External Debt prior to 2014 is based on BPM5.


Related information about Japan External Debt: % of GDP

• 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 External Debt reached 4,312,375.1 in Dec 2024.
• The country's Nominal GDP was reported at 1,080.1 USD bn in Mar 2023.

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.

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 July of 2025.

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.

Historical dataset showing Japan debt to gdp ratio by year from 1990 to 2022.

Key information about Japan Household Debt: % of GDP

• Japan household debt accounted for 65.1 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 65.1 % in the previous quarter.
• Japan household debt to GDP ratio is updated quarterly, available from Dec 1997 to Dec 2024.
• The data reached an all-time high of 78.7 % in Mar 2000 and a record low of 59.4 % in Dec 2015.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Household Debt is calculated as Total Household Liabilities less Financial Surplus or Deficit. The Bank of Japan provides Household Debt in local currency. Economic and Social Research Institute provides Nominal GDP in local currency.


Related information about Japan Household Debt: % of GDP

• In the latest reports, Japan Household Debt reached 2,739.5 USD bn in Sep 2024.
• Money Supply M2 in Japan increased 1.1 % YoY in Feb 2025.
• Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025.
• The Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025.
• Japan Domestic Credit reached 11,754.7 USD bn in Dec 2024, representing an increased of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.3 % in the previous half a year.

In 2024, Japan had the highest level of total non-financial debt among advanced economies, reaching 394 percent of the country's GDP. Total non-financial debt includes government debt, as well as private and business debt. Debt of the financial sector is not included in the figures.

Japan: Government debt as percent of GDP: The latest value from 2023 is 227.55 percent, a decline from 236.58 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Japan from 2013 to 2023 is 225.54 percent. The minimum value, 209.86 percent, was reached in 2013 while the maximum of 246.71 percent was recorded in 2020.

With the global impact of the 2020 Novel Coronavirus (COVID-19), there has been a surge in public debt and uncertainty in the global economy. As the likelihood of a recession and a higher debt for Canada increases, the utility of a forecasting model is a realistic choice to both predict and determine optimal fiscal decisions for the government. This paper seeks to ratify existing historical trends in three developed economies (Canada, Japan, and the U.K.) as well as offer a time series forecast for the proceeding five years’ debt to GDP ratio. As per the International Monetary Fund (IMF), a limit of 60% in debt to GDP ratio was employed to measure how far off these three countries were from a considerably recoverable amount of debt. The time series forecast that the U.K. will drop to 65.436% by 2025, however, Japan and Canada will continue to accumulate debt to 254.3851% and 80.107% respectively.

Key information about Japan National Government Debt

• Japan National Government Debt reached 9,396.6 USD bn in Apr 2023, compared with 9,570.6 USD bn in the previous month.
• Japan National Government Debt data is updated monthly, available from Apr 1982 to Apr 2023.
• The data reached an all-time high of 12,619.3 USD bn in Sep 2012 and a record low of 422.2 USD bn in Oct 1982.

CEIC converts monthly Government Debt into USD. The Bank of Japan provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government only.


Related information about Japan National Government Debt

• In the latest reports, Japan Consolidated Fiscal Balance recorded a deficit equal to 6.2 % of its Nominal GDP in Mar 2024.
• The country's Government debt accounted for 226.1 % of its Nominal GDP in Mar 2023.
• Japan Nominal GDP reached 1,080.1 USD bn in Mar 2023.