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.

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

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 2023, the United States had the highest gross government debt of any G7 country, amounting to an estimated 33 trillion U.S. dollars. However, in terms of government debt as a share of GDP, Japan carries a far higher government debt load than the U.S.

The graph shows national debt in China related to gross domestic product until 2024, with forecasts to 2030. In 2024, gross national debt ranged at around 88 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 2024, the estimated national debt of Japan amounted to about 250 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.

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.

Key information about Japan Foreign Exchange Reserves: Months of Import

• Japan Foreign Exchange Reserves equaled 19.5 Months of Import in Feb 2025, compared with the ratio of 16.2 in the previous month
• Japan Foreign Exchange Reserves: Months of Import data is updated monthly, available from Apr 2000 to Feb 2025
• The data reached an all-time high of 27.8 in Aug 2020 and a record low of 9.6 in Oct 2000

CEIC calculates Foreign Exchange Reserves as Months of Import from monthly Foreign Exchange Reserves and monthly Imports. Foreign Exchange Reserves are calculated as the sum of Foreign Currency Reserves and Other Reserve Assets, which include other financial instruments denominated in foreign currency. The Ministry of Finance provides Foreign Exchange Reserves in USD and Imports in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.


Further information about Japan Foreign Exchange Reserves: Months of Import

• In the latest reports, Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025
• Its Money Supply M2 increased 1.1 % YoY in Feb 2025
• Japan Domestic Credit reached 11,877.4 USD bn in Jan 2025, representing an increased of 0.5 % 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
• Household Debt of Japan reached 2,739.5 USD bn in Sep 2024, accounting for 65.1 % of the country's Nominal GDP

Key information about Japan Domestic Credit Growth

• Japan Domestic Credit increased 0.5 % YoY in Jan 2025, compared with an increase of 1.1 % YoY in the previous month
• Japan Domestic Credit Growth YoY data is updated monthly
• It averaged 2.5 %, available from Apr 2004 to Jan 2025
• The data reached an all-time high of 8.1 % in Feb 2021 and a record low of -3.2 % in May 2005

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. The Bank of Japan provides Domestic Credit in local currency.


Further information about Japan Domestic Credit Growth

• In the latest reports, Japan Domestic Credit reached 11,877.4 USD bn in Jan 2025
• Money Supply M2 in Japan increased to 10,270.0 USD bn YoY in Jan 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
• 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
• Household Debt of Japan reached 65.1 % in Dec 2024, accounting for 65.1 % of the country's Nominal GDP

Debt-To-Capital-Ratio Time Series for Isuzu Motors Ltd.. Isuzu Motors Limited manufactures and sells commercial vehicles, light commercial vehicles, and diesel engines and components internationally. The company offers products including heavy and medium-duty trucks and buses, and light-duty trucks; pickup vehicles, pickup trucks, and SUVs; and marine and industrial engines. The company also supplies diesel engines to manufacturers in various fields, including construction machinery, agricultural equipment, power generators, and commercial vessels. In addition, it provides after-sales services; repair services for commercial vehicles and buses; and commercial vehicle leasing and maintenance contract services. Further, the company manufactures automobile parts and engines. Additionally, it engages in the import, wholesale, supply, and export of vehicles and components and parts; and logistics management activities, as well as the import, assembly, and wholesale of pickup trucks and derivatives. The company was formerly known as Diesel Automobile Industry Co., Ltd. and changed its name to Isuzu Motors Limited in July 1949. Isuzu Motors Limited was founded in 1916 and is headquartered in Yokohama-shi, Japan.

Key information about Japan Domestic Credit

• Japan Domestic Credit reached 11,877.4 USD bn in Jan 2025, compared with a reported figure of 11,738.9 USD bn in the previous month
• Japan Domestic Credit data is updated monthly
• It is available from Apr 2003 to Jan 2025 and averaged 12,536.8 USD bn
• The data reached an all-time high of 16,530.5 USD bn in Dec 2020 and a record low of 9,039.7 USD bn in Jun 2007

CEIC converts monthly Domestic Credit into USD. The Bank of Japan provides Domestic Credit in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about Japan Domestic Credit

• In the latest reports, Japan Domestic Credit represented an increased of 0.5 % YoY in Jan 2025
• Money Supply M2 in Japan increased to 10,270.0 USD bn YoY in Jan 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
• 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
• Household Debt of Japan reached 65.1 % in Dec 2024, accounting for 65.1 % of the country's Nominal GDP

Key information about Japan M2 Growth

• Japan Money Supply M2 increased 1.1 % YoY in Feb 2025, compared with a growth of 1.3 % in the previous month
• Japan Money Supply M2 growth data is updated monthly, available from Jan 1968 to Feb 2025
• The data reached an all-time high of 28.5 % in Nov 1972 and a record low of -0.6 % in Oct 1992

CEIC calculates M2 Growth Rate from monthly M2. The Bank of Japan provides M2 in local currency. Average M2 is used. M2 Growth Rate prior to April 2004 includes Certificates of Deposits and prior to April 1999 excludes Foreign Banks.


Further information about Japan M2 Growth

• In the latest reports, 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
• Household Debt of Japan reached 2,739.5 USD bn in Sep 2024, accounting for 65.1 % of the country's Nominal GDP

Key information about Japan Non Performing Loans Ratio

• Japan Non Performing Loans Ratio stood at 1.2 % in Sep 2024, compared with the ratio of 1.3 % in the previous half a year
• Japan Non Performing Loans Ratio data is updated half a yearly, available from Mar 1999 to Sep 2024
• The data reached an all-time high of 8.4 % in Mar 2002 and a record low of 1.1 % in Sep 2020

Financial Services Agency provides semiannually Non Performing Loans Ratio. Non performing Loans are defined as defaulted loans due to bankruptcy, loans that are doubtful or requires special attention (overdue by 3 months) as definted under Financial Reconstruction Act.


Further information about Japan Non Performing Loans Ratio

• In the latest reports, Money Supply M2 in Japan increased 1.3 % YoY in Jan 2025
• Japan Foreign Exchange Reserves was measured at 1,096.8 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025
• The country's Domestic Credit reached 11,754.7 USD bn in Dec 2024, representing an increased of 1.3 % YoY
• Household Debt of Japan reached 2,739.5 USD bn in Sep 2024, accounting for 65.1 % of the country's Nominal GDP

Key information about Japan Reserve Requirement Ratio

• Reserves Required: Average Effective Reserve Rate was set as 0.8 % in Dec 2024
• Japan Reserve Requirement Ratio data updated monthly, available from Oct 1980 to Dec 2024
• The data is reported by Bank of Japan
• In the latest reports, Japan Money Supply M2 increased to 10,580.1 USD bn YoY in Nov 2024
• Foreign Exchange Reserves in Japan was measured at 1,096.8 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 17.2 Months of Import in Dec 2024
• Japan Domestic Credit reached 12,293.5 USD bn in Nov 2024, representing an increase of 1.7 % YoY
• The country's Non Performing Loans Ratio stood at 1.3 % in Mar 2024, compared with the ratio of 1.2 % in the previous half a year
• Household Debt of Japan reached 65.1 % in Sep 2024, accounting for 65.1 % of the country's Nominal GDP

The base for calculation of required reserves excludes foreign currency deposits, nonresident yen deposits, and offshore account deposits.

The Asia-Pacific capital market exchange ecosystem is experiencing robust growth, driven by increasing financialization in the region's rapidly developing economies. A compound annual growth rate (CAGR) exceeding 7% from 2019 to 2024 suggests a significant market expansion, projected to continue into the forecast period (2025-2033). Key drivers include rising domestic savings, increasing foreign direct investment (FDI), and the proliferation of retail and institutional investors. The expansion of digital financial services and fintech innovations further fuels this growth, facilitating easier access to markets and investment products. While market segments vary significantly across the region, the dominance of equity and debt markets is evident, reflecting the developmental stage of many economies. The presence of major stock exchanges like the Shanghai, Tokyo, and Hong Kong exchanges underscores the region's importance in the global financial landscape. However, regulatory hurdles, geopolitical uncertainties, and potential macroeconomic shifts pose some restraints to sustained growth. The study focuses on key markets within the Asia-Pacific region, including China, Japan, South Korea, India, Australia, and others, providing a detailed picture of market dynamics and future potential within each specific nation. Furthermore, the growing participation of institutional investors, alongside a rising retail investor base, points to a mature and deepening market. This expanding market presents significant opportunities for both domestic and international players. However, navigating the diverse regulatory environments and understanding the unique characteristics of each national market is crucial for success. Future growth will likely be shaped by government policies promoting financial inclusion, technological advancements enhancing market efficiency, and the overall macroeconomic stability of the region. The continued development and deepening of these capital markets will play a critical role in driving economic growth and development across the Asia-Pacific region for the foreseeable future, attracting further foreign investment and fostering greater financial integration within the area. Please note: I cannot create hyperlinks. I also cannot provide financial data (market size, growth rates, etc.) as this requires specialized market research. The following report description provides a framework; you would need to fill in the financial data from your research. Recent developments include: July 2022: The eligible companies listed on Beijing Stock Exchange were allowed to apply for transfer to the Star Market of the Shanghai Stock Exchange. A transfer system is a positive approach for bridge-building efforts between China's multiple layers of the capital market., February 2022: The China Securities Regulatory Commission (CSRC) approved the merger of Shenzhen Stock Exchange's main board with the SME board. The merger will optimize the trading structure of the Shenzhen Stock Exchange.. Notable trends are: Increasing Foreign Direct Investment in Various Developing Economies in Asia-Pacific.

Key information about Japan Foreign Exchange Reserves

• Japan Foreign Exchange Reserves was measured at 1,108.4 USD bn in Feb 2025, compared with 1,096.8 USD bn in the previous month
• Japan Foreign Exchange Reserves: USD mn data is updated monthly, available from Apr 2000 to Feb 2025
• The data reached an all-time high of 1,319.9 USD bn in Jul 2020 and a record low of 324.1 USD bn in Apr 2000

CEIC calculates monthly Foreign Exchange Reserves as the sum of Foreign Currency Reserves and Other Reserve Assets, which include other financial instruments denominated in foreign currency.2. The Ministry of Finance provides Foreign Exchange Reserves in USD.


Further information about Japan Foreign Exchange Reserves

• In the latest reports, Japan Foreign Exchange Reserves equaled 16.2 Months of Import in Jan 2025.
• Its Money Supply M2 increased 10,151.2 USD bn YoY in Dec 2024.
• 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.
• Household Debt of Japan reached 65.1 % in Sep 2024, accounting for 65.1 % of the country's Nominal GDP.

Inflation rates in the Association of Southeast Asian Nations (ASEAN) ranged from ** percent inflation in Myanmar to **** percent inflation in Thailand in 2025. Only a few countries are in the 2 to 6 percent range that many economists view as optimal for emerging economies. Effects of high inflation High inflation is generally detrimental to the economy. Prices tend to rise faster than wages, meaning that people and firms have less purchasing power. This in turn leads to slower growth in the gross domestic product (GDP). It also leads to a weaker currency. For countries with a positive trade balance this can be beneficial, because exports are relatively cheaper to foreign buyers. Through the same mechanism, net importers suffer from a weaker currency. Additionally, inflation makes a country’s national debt less expensive if the debt is denominated in the local currency. However, most of this debt is in U.S. dollars, so inflation makes the debt more difficult to service and repay. Risks of deflation With deflation, consumers and firms delay investments because they expect prices to be lower in the future. This slows consumption and investment, two major components of GDP growth. The most common example of this is Japan, where the GDP growth rate has been low for a long time due, in large part, to deflation. For this reason, countries like Brunei would rather see low and stable inflation than slight deflation.