Key information about Japan Government Debt: % of GDP

• Japan Government debt accounted for 212.1 % of the country's Nominal GDP in Sep 2025, compared with the ratio of 213.9 % in the previous quarter.
• Japan government debt to GDP ratio data is updated quarterly, available from Dec 1994 to Sep 2025.
• 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 9,012.6 USD bn in Sep 2025.
• The country's Nominal GDP reached 1,077.6 USD bn in Sep 2025.

The statistic shows the national debt of Japan from 2020 to 2024, with projections up until 2030. The amount of Japan's national debt in 2024 amounted to about 1,436.5 trillion yen. 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.

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.

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.

Key information about Japan Total Debt: % of GDP

• Japan Total Debt accounted for 1,227.8 % of the country's GDP in 2025, compared with the ratio of 1,255.0 % in the previous quarter.
• Japan Total Debt: % of GDP data is updated quarterly, available from Jun 1998 to Jun 2025.
• The data reached an all-time high of 1,340.4 % 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 Japan's national debt from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2024, the national debt of Japan amounted to about 236.1 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.

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.

Actual value and historical data chart for Japan Central Government Debt Total Percent Of GDP

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

Graph and download economic data for Projection of General government gross debt for Japan (GGGDTPJPA188N) from 2024 to 2030 about projection, Japan, debt, gross, and government.

External Debt in Japan decreased to 677007 JPY Billion in the second quarter of 2025 from 679417 JPY Billion in the first quarter of 2025. This dataset provides - Japan External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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

The combined outstanding long-term debt of central and local governments in Japan was estimated to reach ******* trillion Japanese yen by the end of the fiscal year 2024. The actual central government long-term debt at the end of March 2025 reached ******* trillion yen, while local government debt was projected to reach *** trillion yen.

Key information about Japan External Debt

• Japan External Debt reached 4,695.9 USD bn in Jun 2025, compared with 4,532.5 USD bn in the previous quarter.
• Japan External Debt: USD mn data is updated quarterly, available from Mar 2003 to Jun 2025.
• The data reached an all-time high of 4,844.1 USD bn in Dec 2020 and a record low of 1,223.9 USD bn in Mar 2003.

CEIC converts quarterly External Debt into USD. The Bank of Japan provides External Debt in local currency based on BPM6. The Federal Reserve Board period end market exchange rate is used for currency conversions. External Debt prior to Q1 2014 is based on BPM5.


Related information about Japan External Debt

• In the latest reports of Japan, Current Account recorded a surplus of 29.4 USD bn in Sep 2025.
• Foreign Direct Investment (FDI) increased by 1.4 USD bn in Sep 2025.
• Japan Direct Investment Abroad expanded by 15.2 USD bn in Sep 2025.
• Its Foreign Portfolio Investment increased by 15.2 USD bn in Sep 2025.
• The country's Nominal GDP was reported at 1,077.6 USD bn in Sep 2025.

In 2024, the gross government debt of Japan amounted to *** percent of the country's gross domestic product (GDP), compared to *** 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 ** percent.

Yearly (annual) dataset of the Japan Government Gross Debt to GDP, including historical data, latest releases, and long-term trends from 1980-12-31 to 2024-12-31. Available for free download in CSV format.

Actual value and historical data chart for Japan Central Government Debt Total Current Lcu

Key information about Japan Household Debt

• Japan Household Debt reached 2,739.5 USD bn in Sep 2024, compared with the reported number of 2,437.8 USD bn in the previous quarter
• Japan Household Debt: USD mn data is updated quarterly, available from Dec 1997 to Sep 2024
• The data reached an all-time high of 4,064.6 USD bn in Mar 2000 and a record low of 2,437.8 USD bn in Jun 2024

CEIC calculates quarterly Household Debt as Total Household Liabilities less Financial Surplus or Deficit and converts it into USD. The Bank of Japan provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about Japan Household Debt

• In the latest reports, Japan Household Debt accounted for 65.1 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in Japan increased 11,049.4 USD bn YoY in Sep 2024
• Japan Foreign Exchange Reserves was measured at 1,099.1 USD bn in Nov 2024
• The Foreign Exchange Reserves equaled 18.2 Months of Import in Nov 2024
• Japan Domestic Credit reached 12,785.0 USD bn in Sep 2024, representing an increased of 1.5 % YoY

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 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]