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.

Key information about United States Private Debt: % of Nominal GDP

• United States Private Debt accounted for 145.54 % of its Nominal GDP in Sep 2024, compared with a ratio of 146.25 % in the previous quarter
• US Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Dec 1951 to Sep 2024, with an average share of 119.14 %
• The data reached an all-time high of 172.25 % in Sep 2008 and a record low of 53.98 % in Dec 1951

CEIC calculates quarterly Private Debt as % of Nominal GDP from quarterly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Debt from Household and Business Sector. Federal Reserve Board provides Private Debt in USD. The Bureau of Economic Analysis Nominal GDP in USD. Flow of Funds Seasonally Adjusted Annual Rate Private Debt and Seasonally Adjusted Annual Rate Nominal GDP are used.

Italy recorded a Government Debt to GDP of 135.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Italy Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Italy's Gross Domestic Product (GDP) amounted to 2.13 trillion euros in 2023. The Italian economy grew at low rates between 2010 and 2019, and significantly shrank in 2020 following the consequences of the pandemic on the global economy. However, since 2021, GDP recorded a steady uprise, with remarkably higher growth rates compared to the pre-pandemic period. A difficult outlook for the Italian economy Besides the positive performance recorded right after the COVID-19 pandemic, projections indicate a different outlook. The slow growth of the Italian economy, less than one percent each year from 2024 to 2029, is believed to remove Italy from the giants of the global players. Indeed, by 2028, the ranking of the world's largest economies might appear quite different from the present one. In addition to slow growth, Italy's economy is characterized by large internal disparities. After 160 years of national unity, the country is economically still very divided, as data on unemployment, GDP, and poverty confirm. National debt: Italy's most difficult challenge Italy still ranges among the top-20 largest economies in the world. However, the large amount of the national debt risks hampering future growth. In 2023, it reached 134 percent of the GDP, equivalent to 3.1 trillion U.S. dollars, and forecasts expect figures to increase over the coming years. By 2029, the debt-to-GDP ratio may hit 145 percent. A large amount of national debt significantly limits the government's possibility to earmark resources for public investments. In fact, a considerable share of the state budget is devoted to reimbursing the debt.

Key information about Egypt External Debt

• Egypt External Debt reached 155.2 USD bn in Sep 2024, compared with 152.9 USD bn in the previous quarter.
• Egypt External Debt: USD mn data is updated quarterly, available from Jun 1997 to Sep 2024.
• The data reached an all-time high of 168.0 USD bn in Dec 2023 and a record low of 26.1 USD bn in Mar 2001.

Related information about Egypt External Debt

• In the latest reports of Egypt, Current Account recorded a deficit of 5.9 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 22.4 USD bn in Jun 2024.
• Egypt Direct Investment Abroad expanded by 120.0 USD mn in Jun 2024.
• Its Foreign Portfolio Investment fell by 104.5 USD mn in Jun 2024.
• The country's Nominal GDP was reported at 109.0 USD bn in Dec 2022.