As of 2024, the United States' government debt accounted for more than a third of the world total. Second in the ranking was China with 16.1 percent of the total, followed by Japan with ten percent.

In 2023, Sudan ranked had the highest public debt level in relation to its GDP, with an estimated debt almost three times larger than its GDP. The countries with the highest public debt often have a high level of economic instability, however there are also many more developed economies on this list, such as five of the G7 countries, who feature due to their high levels of national borrowing and public spending. Venezuela's public debt

This dataset provides values for PRIVATE DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The statistic shows the 20 countries with the lowest national debt in 2023 in relation to the gross domestic product (GDP). The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance. In 2023, Russia's estimated level of national debt reached about 19.66 percent of the GDP, ranking 17th of the countries with the lowest national debt. National debt and GDP The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts, however these countries should not retain newer debts in the process. Many economists believe that if a country is able to produce more without impairing its own economical growth, it can be considered more stable, particularly for the future. However, the listed countries, with the exception of Russia and Saudi Arabia, are not necessarily economic first-world powers. Additionally, economically powerful countries such as the United States and France maintain one of the highest debt-to-GDP ratios, signifying that occurring debt does not necessarily damage the state of the economy and is sometimes necessary in order to help develop it. Saudi Arabia has maintained one of the lowest debt-to-GDP ratios due to its high export rates, which primarily consist of petroleum and petroleum goods. Given the significance of oil in today’s world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Morocco recorded a Government Debt to GDP of 69.70 percent of the country's Gross Domestic Product in 2023. This dataset provides - Morocco Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The United States recorded a Government Debt to GDP of 122.30 percent of the country's Gross Domestic Product in 2023. This dataset provides - United States Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Key information about India Government Debt: % of GDP

• India Government debt accounted for 58.3 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 58.3 % in the previous quarter.
• India government debt to GDP ratio data is updated quarterly, available from Mar 2012 to Sep 2024.
• The data reached an all-time high of 59.3 % in Sep 2023 and a record low of 44.6 % in Dec 2018.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about India Government Debt: % of GDP

• In the latest reports, India National Government Debt reached 2,144.6 USD bn in Sep 2024.
• The country's Nominal GDP reached 873.7 USD bn in Mar 2023.

External Debt in India increased to 711800 USD Million in the third quarter of 2024 from 682300 USD Million in the second quarter of 2024. This dataset provides - India External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the national debt of Japan from 2019 to 2021, with projections up until 2029. The amount of Japan's national debt in 2022 amounted to about 9.16 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.

Iraq recorded a Government Debt to GDP of 49.20 percent of the country's Gross Domestic Product in 2023. This dataset provides - Iraq Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average for 2022 based on 10 countries was 65.75 percent. The highest value was in Singapore: 158.25 percent and the lowest value was in Brunei: 2.06 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

Key information about Russia Government Debt: % of GDP

• Russia Government debt accounted for 14.6 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 14.9 % in the previous quarter.
• Russia government debt to GDP ratio data is updated quarterly, available from Dec 2011 to Mar 2024.
• The data reached an all-time high of 17.8 % in Mar 2021 and a record low of 8.5 % in Mar 2012.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. Government Debt is calculated as a sum of Domestic Government Debt and External Government Debt. The Ministry of Finance provides Government Debt in USD and local currency. The Federal State Statistics Service provides Nominal GDP in local currency. The Bank of Russia period end market exchange rate is used for currency conversions.


Related information about Russia Government Debt: % of GDP

• In the latest reports, Russia National Government Debt reached 284.6 USD bn in Apr 2024.
• The country's Nominal GDP reached 494.7 USD bn in Mar 2023.

Key information about China Government Debt: % of GDP

• China Government debt accounted for 25.6 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 25.1 % in the previous quarter.
• China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to Dec 2024.
• The data reached an all-time high of 25.6 % in Dec 2024 and a record low of 14.0 % in Mar 2014.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The National Bureau of Statistics provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about China Government Debt: % of GDP

• In the latest reports, China National Government Debt reached 4,230.0 USD bn in Dec 2023.
• The country's Nominal GDP reached 4,166.8 USD bn in Mar 2023.

External Debt in Egypt increased to 155204 USD Million in the third quarter of 2024 from 152885.20 USD Million in the second quarter of 2024. This dataset provides - Egypt External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Argentina recorded a Government Debt to GDP of 88.40 percent of the country's Gross Domestic Product in 2023. This dataset provides - Argentina Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the national debt of countries in the countries of the Arab world (Arab League) in relation to gross domestic product (GDP) in 2023. The source did not provide data for Libya, Syria and Palestine. In 2023, the national debt of Algeria amounted to 48.62 percent of the country's gross domestic product.

Key information about Italy Government Debt: % of GDP

• Italy Government debt accounted for 135.3 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 136.2 % in the previous quarter.
• Italy government debt to GDP ratio data is updated quarterly, available from Dec 1995 to Dec 2024.
• The data reached an all-time high of 159.9 % in Mar 2021 and a record low of 103.9 % in Dec 2007.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bank of Italy provides Government Debt in EUR. Italian National Institute of Statistics provides Nominal GDP in EUR.


Related information about Italy Government Debt: % of GDP

• In the latest reports, Italy National Government Debt reached 3,069.8 USD bn in Dec 2024.
• The country's Nominal GDP reached 538.7 USD bn in Mar 2023.

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.