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.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

Key information about Japan Government Debt: % of GDP

• Japan Government debt accounted for 202.2 % of the country's Nominal GDP in Dec 2025, compared with the ratio of 202.9 % in the previous quarter.
• Japan government debt to GDP ratio data is updated quarterly, available from Jun 1982 to Dec 2025.
• The data reached an all-time high of 219.4 % in Mar 2021 and a record low of 42.9 % in Sep 1982.

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. Economic and Social Research Institute provides Nominal GDP in local currency, based on SNA 2008 with benchmark year 2020. Government Debt covers Central Government only. Nominal GDP prior to Q4 1994 is based on SNA 1993 with benchmark year 2000.


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.

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.

Foreign Treasury Holdings Japan in the United States decreased to 1185.50 USD Billion in December from 1202.70 USD Billion in November of 2025. United States US Treasuries Held by Japan - values, historical data, forecasts and news - updated on February of 2026.

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.

Government debt statistics for Japan including total debt, debt-to-GDP ratio, and per capita figures.

Key information about Japan National Government Debt

• Japan National Government Debt reached 9,012.6 USD bn in Sep 2025, compared with 9,125.6 USD bn in the previous month.
• Japan National Government Debt data is updated monthly, available from Apr 1982 to Sep 2025.

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 4.6 % of its Nominal GDP in Mar 2026.
• The country's Government debt accounted for 212.1 % of its Nominal GDP in Sep 2025.
• Japan Nominal GDP reached 1,077.6 USD bn in Sep 2025.

In 2023, China held **** percent of foreign held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United Stated can be found here.

Graph and download economic data for General government gross debt for Japan (GGGDTAJPA188N) from 1980 to 2023 about Japan, gross, debt, and government.

Key information about Japan External Debt

• Japan External Debt reached 4,628.9 USD bn in Dec 2025, compared with 4,713.2 USD bn in the previous quarter.
• Japan External Debt: USD mn data is updated quarterly, available from Mar 2003 to Dec 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 2.4 USD bn in Jan 2026.
• Japan Direct Investment Abroad expanded by 11.7 USD bn in Jan 2026.
• Its Foreign Portfolio Investment increased by 84.8 USD bn in Dec 2025.
• The country's Nominal GDP was reported at 1,077.6 USD bn in Sep 2025.

Internet Initiative Japan reported JPY35.57B in Debt for its fiscal quarter ending in December of 2025.Data for Internet Initiative Japan | IIJI - Debt including historical, tables and charts were last updated by Trading Economics this last March in 2026.

The statistic shows the gross national debt of the United States from 2019 to 2024 in relation to the gross domestic product (GDP), with projections up until 2030. In 2024, the national debt of the United States was at around 120.79 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.

In the fiscal year 2023, the national debt service expenditure of the national government in Japan amounted to **** trillion Japanese yen. Expenditure on debt service increased from around **** trillion yen in the previous fiscal year.

View monthly updates and historical trends for Japan Gross Sales of Long-Term US Treasury Bonds & Notes. from United States. Source: Department of the Tre…

View monthly updates and historical trends for Japan Gross Purchases of Long-Term US Treasury Bonds & Notes. from United States. Source: Department of the…

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.

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

This data package includes the underlying data and files to replicate the calculations, charts, and tables presented in Sustainability of Public Debt in the United States and Japan, PIIE Working Paper 14-9. If you use the data, please cite as: Cline, William R. (2014). Sustainability of Public Debt in the United States and Japan. PIIE Working Paper 14-9. Peterson Institute for International Economics.

USF: Long Term: Corporate Debt: Japan data was reported at 188.051 USD bn in 2017. This records an increase from the previous number of 187.421 USD bn for 2016. USF: Long Term: Corporate Debt: Japan data is updated yearly, averaging 144.251 USD bn from Jun 2002 (Median) to 2017, with 16 observations. The data reached an all-time high of 188.051 USD bn in 2017 and a record low of 62.821 USD bn in 2002. USF: Long Term: Corporate Debt: Japan data remains active status in CEIC and is reported by US Department of Treasury. The data is categorized under Global Database’s USA – Table US.Z047: Foreign Residents' Portfolio Holdings of U.S. Securities.