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.

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.

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 December 2024, ***************** held ** percent of outstanding Japanese Government Bonds (JGBs). While ******************** held the largest share of JGBs, ***** accounted for **** percent of JGB holders.

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.

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.

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

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.

In the fiscal year 2023, the initial budget for national debt service expenditure of the national government in Japan amounted to approximately 25.7 trillion Japanese yen. Around 27 trillion yen in expenditure on debt service was planned according to the general account budget.

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 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.

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.

Ukraine National Debt: USD: Payments in Japanese Yen data was reported at 554,116.674 USD th in Sep 2018. This records a decrease from the previous number of 565,355.648 USD th for Aug 2018. Ukraine National Debt: USD: Payments in Japanese Yen data is updated monthly, averaging 422,900.330 USD th from Dec 2008 (Median) to Sep 2018, with 105 observations. The data reached an all-time high of 632,568.988 USD th in Sep 2016 and a record low of 151,534.120 USD th in Dec 2010. Ukraine National Debt: USD: Payments in Japanese Yen data remains active status in CEIC and is reported by Ministry of Finance of Ukraine. The data is categorized under Global Database’s Ukraine – Table UA.F010: National Debt Payments.

Ukraine National Debt: Payments in Japanese Yen data was reported at 15,622,071.026 UAH th in Oct 2018. This records a decrease from the previous number of 15,680,538.808 UAH th for Sep 2018. Ukraine National Debt: Payments in Japanese Yen data is updated monthly, averaging 3,884,854.395 UAH th from Dec 2008 (Median) to Oct 2018, with 106 observations. The data reached an all-time high of 16,391,051.083 UAH th in Sep 2016 and a record low of 1,206,469.210 UAH th in Dec 2010. Ukraine National Debt: Payments in Japanese Yen data remains active status in CEIC and is reported by Ministry of Finance of Ukraine. The data is categorized under Global Database’s Ukraine – Table UA.F010: National Debt Payments.

Key information about Japan Consolidated Fiscal Balance: % of GDP

• Japan Consolidated Fiscal Balance recorded a deficit equal to 6.2 % of its Nominal GDP in Mar 2024, compared with a deficit equal to 11.6 % in the previous year
• Japan Consolidated Fiscal Balance to GDP data is updated yearly, available from Mar 1996 to Mar 2024, with an average ratio of -6.8 %
• The data reached an all-time high of -3.5 % in Mar 1998 and a record low of -14.8 % in Mar 2021

The Ministry of Finance provides annual Consolidated Fiscal Balance as % of Nominal GDP. Consolidated Fiscal Balance is calculated as Total Revenue excluding Revenue from Government Bond less Expenditure. Consolidated Fiscal Balance for current and coming fiscal years is forecasted. The forecast for the current year is revised when the official Consolidated Fiscal Balance is released. Nominal GDP prior to 2012 is based on SNA 1993. Consolidated Fiscal Balance as % of Nominal GDP is in annual frequency, ending in March of each year.


Further information about Japan Consolidated Fiscal Balance: % of GDP

• In the latest reports, Japan National Government Debt reached 9,396.6 USD bn in Apr 2023
• Japan Nominal GDP reached 1,080.1 USD bn in Mar 2023

Interest payments (% of revenue) in Japan was reported at 8.4376 % in 2022, according to the World Bank collection of development indicators, compiled from officially recognized sources. Japan - Interest payments (% of revenue) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Jordan Central Government: External Public Debt: Outstanding: Foreign Currency: Japanese Yen data was reported at 116,162.300 JPY mn in Sep 2018. This stayed constant from the previous number of 116,162.300 JPY mn for Aug 2018. Jordan Central Government: External Public Debt: Outstanding: Foreign Currency: Japanese Yen data is updated monthly, averaging 119,414.100 JPY mn from Jan 2004 (Median) to Sep 2018, with 177 observations. The data reached an all-time high of 175,003.000 JPY mn in Mar 2004 and a record low of 93,732.800 JPY mn in Jun 2015. Jordan Central Government: External Public Debt: Outstanding: Foreign Currency: Japanese Yen data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Jordan – Table JO.JB012: External Public Debt: Central Government: Outstanding: by Currency.

Jordan Central Government: External Public Debt: Outstanding: Local Currency: Japanese Yen data was reported at 726.800 JOD mn in Sep 2018. This records a decrease from the previous number of 743.000 JOD mn for Aug 2018. Jordan Central Government: External Public Debt: Outstanding: Local Currency: Japanese Yen data is updated monthly, averaging 935.700 JOD mn from Jan 2004 (Median) to Sep 2018, with 177 observations. The data reached an all-time high of 1,191.300 JOD mn in Mar 2004 and a record low of 543.500 JOD mn in Jun 2015. Jordan Central Government: External Public Debt: Outstanding: Local Currency: Japanese Yen data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Jordan – Table JO.JB012: External Public Debt: Central Government: Outstanding: by Currency.

In the fiscal year 2022, Japan issued government bonds (JGBs) worth 212.3 trillion Japanese yen. The issuance amount for fiscal year 2023 was planned to reach 206.1 trillion yen, according to the second supplementary budget. Japanese government bonds are debt securities issued to finance government spending.

The yield on Japan 10Y Bond Yield rose to 1.44% on June 27, 2025, marking a 0.01 percentage point increase from the previous session. Over the past month, the yield has fallen by 0.08 points, though it remains 0.39 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Japan 10 Year Government Bond Yield - values, historical data, forecasts and news - updated on June of 2025.