2022 Debt to GDP Ratio by Country
What countries have the largest global debt?
The top 10 countries with the largest national debt are listed below:
- Japan (National Debt: ¥1,028 trillion ($9.087 trillion USD))
- Greece (National Debt: €332.6 billion ($379 billion US))
- Portugal (National Debt: €232 billion ($264 billion US))
- Italy (National Debt: €2.17 trillion ($2.48 trillion US))
- Bhutan (National Debt: $2.33 billion (USD))
- Cyprus (National Debt: €18.95 billion ($21.64 billion USD))
- Belgium (National Debt: €399.5 billion ($456.18 billion USD))
- United States of America (National Debt: $19.23 trillion (USD))
- Spain (National Debt: €1.09 trillion ($1.24 USD))
- Singapore (National Debt: $350 billion ($254 billion US))
With a population of 127,185,332, Japan maintains the world’s biggest national debt, representing over 234.18 percent of GDP, followed by Greece (181.78 %). The national debt of Japan is currently $1,028 trillion ($9.087 trillion USD). After Japan’s stock market collapsed, the government bailed out banks and insurance firms by providing low-interest loans.
After a period of time, banking institutions had to be consolidated and nationalized, and other fiscal stimulus policies were implemented to help the faltering economy get back on track. Unfortunately, these initiatives resulted in a massive increase in Japan’s debt.
The national debt of China now stands at 54.44 percent of GDP, up from 41.54 percent in 2014. China’s national debt currently stands at more than 38 trillion yuan ($5 trillion USD).
According to a 2015 assessment by the International Monetary Fund, China’s debt is relatively modest, and many economists have rejected concerns about the debt’s size, both overall and in relation to China’s GDP. With a population of 1,415,045,928 people, China currently possesses the world’s greatest economy and population.
At 19.48 percent of GDP, Russia has one of the lowest debt ratios in the world. Russia is the world’s tenth least indebted country. The overall debt of Russia is currently about 14 billion рy ($216 billion USD). The majority of Russia’s external debt is held by private companies.
The national debt of Canada is currently 83.81 percent of GDP. The national debt of Canada is presently over $1.2 trillion CAD ($925 billion USD). Following the 1990s, Canada’s debt decreased gradually until 2010, when it began to rise again.
Germany’s debt to GDP ratio is at 59.81 percent. The entire debt of Germany is estimated to be around 2.291 trillion € ($2.527 trillion USD). Germany has the largest economy in Europe.
The data comes from the IMF’s World Economic Outlook database, which was updated in April 2018.