Government Debt to GDP by Country
Public debt as percentage of GDP. Japan leads at 260%, while Estonia maintains just 19%.
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Key Insights
- •Japan (260%) sustains debt due to domestic ownership
- •US (125%) relies on dollar's reserve currency status
- •Emerging Asian economies maintain fiscal discipline
Country Rankings
Top 10 Countries
Bottom 10 Countries
Data Analysis
Value Distribution
How countries are distributed across the value range
Regional Comparison
Average values by world region (Global avg: 79.5%)
Correlation Analysis
Correlation Analysis
Debt to GDP vs GDP per Capita
About This Statistic
Government debt-to-GDP ratio measures a country's public debt relative to its economic output. Higher ratios indicate heavier debt burdens that can crowd out investment and increase default risk.
The 2024 landscape reflects the "hangover" from pandemic-era fiscal stimulus. Japan (260%) and the US (125%) test the limits of sovereign borrowing, relying on reserve currency status to avoid crises. Most advanced economies now carry debt loads previously seen only during wartime.
Developing nations with moderate debt (Vietnam 32%, Indonesia 39%) are better positioned to attract FDI, as they retain fiscal headroom for infrastructure investment. However, high interest rates in 2023-2024 have made debt servicing expensive for the Global South.
Methodology
Gross debt of the general government as a percentage of GDP.
Full Data
| Rank ↑ | Country ↕ | Value ↕ |
|---|---|---|
| 1 | Japan | 260.0% |
| 2 | Singapore | 168.0% |
| 3 | Greece | 160.0% |
| 4 | Italy | 140.0% |
| 5 | United States of America | 125.0% |
| 6 | France | 110.0% |
| 7 | Spain | 107.0% |
| 8 | Canada | 106.0% |
| 9 | Belgium | 105.0% |
| 10 | United Kingdom | 103.0% |
| 11 | Portugal | 100.0% |
| 12 | Brazil | 85.0% |
| 13 | Argentina | 85.0% |
| 14 | India | 82.0% |
| 15 | People's Republic of China | 80.0% |
| 16 | Austria | 78.0% |
| 17 | Hungary | 75.0% |
| 18 | South Africa | 71.0% |
| 19 | Uruguay | 67.0% |
| 20 | Germany | 64.0% |
| 21 | Thailand | 61.0% |
| 22 | South Korea | 55.0% |
| 23 | Mexico | 53.0% |
| 24 | New Zealand | 51.0% |
| 25 | Australia | 51.0% |
| 26 | Netherlands | 49.0% |
| 27 | Czech Republic | 44.0% |
| 28 | Ireland | 44.0% |
| 29 | Indonesia | 39.0% |
| 30 | Switzerland | 39.0% |
| 31 | Vietnam | 32.0% |
| 32 | Türkiye | 32.0% |
| 33 | Saudi Arabia | 24.0% |
| 34 | Russian Federation | 20.0% |
| 35 | Estonia | 19.0% |
Topics
Related Statistics
GDP per Capita
Gross Domestic Product per person in USD. Luxembourg leads at $135,605, while many developing nations remain below $5,000.
Inflation
Annual percentage change in consumer prices. Argentina faces hyperinflation at 133.5%, while China is near deflation at 0.2%.
Unemployment
Percentage of labor force without work but seeking employment. South Africa has the highest rate at 32.9%.
Minimum Wage
Monthly minimum wage in USD. Luxembourg leads at $2,570/month, while some countries have no statutory minimum.
Data Source
This data comes from International Monetary Fund World Economic Outlook (2024).
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