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Debt Rankings: 2026

The debt-to-GDP ratio is the ratio between a country's government debt and its gross domestic product (GDP).

World Economics has upgraded each country's GDP presenting it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data. Using the World Economics GDP Database it is possible to see more realistic debt levels for each country.






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Country Rank
Order		 Debt
% of GDP		 Debt
Billions, Int$		 World Economics
Debt Grade
A-E
Japan 1 207.4% 13211.77 E
Singapore 2 161.6% 1485.88 E
United States 3 120.9% 34525.71 E
Greece 4 117.3% 575.42 E
Italy 5 117.2% 4386.31 E
Bahrain 6 108.1% 144.19 E
France 7 105.9% 4572.17 E
Canada 8 103.3% 2730.51 E
Libya 9 98.3% 172.22 E
United Kingdom 10 96.2% 3899.10 E
Belgium 11 95.8% 853.42 E
China 12 85.6% 37705.67 E
Spain 13 84.2% 2451.92 E
Sudan 14 82.2% 162.08 E
Finland 15 80.3% 287.18 E
Ukraine 16 79.2% 631.63 E
Austria 17 77.9% 492.71 E
Cabo Verde 18 77.1% 5.64 E
Senegal 19 76.6% 118.13 E
Portugal 20 75.9% 409.07 E
Bhutan 21 73.5% 15.92 D
Brazil 22 73.2% 4127.54 D
Zambia 23 73.2% 111.24 D
Mauritius 24 72.9% 32.53 D
Jordan 25 67.9% 101.36 D
Sri Lanka 26 67.5% 288.06 D
Tunisia 27 62.8% 131.78 D
Hungary 28 62.3% 307.09 D
India 29 62.3% 13186.74 C
El Salvador 30 61.4% 68.15 D
Mozambique 31 61.4% 56.12 D
Bolivia 32 61.3% 136.23 C
Israel 33 61.3% 354.06 D
Germany 34 60.3% 3494.09 D
Suriname 35 58.7% 10.17 C
Laos 36 57.4% 60.41 C
Egypt 37 57.2% 1816.43 C
Slovenia 38 56.0% 71.99 C
Argentina 39 55.5% 949.33 C
Slovak Republic 40 55.5% 142.67 C
Bahamas, The 41 55.4% 11.26 C
Poland 42 55.1% 1157.88 C
South Africa 43 53.6% 710.91 C
Morocco 44 52.2% 248.83 C
New Zealand 45 51.4% 151.84 C
Malawi 46 51.1% 29.41 C
Trinidad and Tobago 47 51.0% 30.47 C
Malaysia 48 50.6% 925.83 C
Rwanda 49 50.3% 39.87 C
Romania 50 49.8% 509.59 C
Gabon 51 49.3% 41.18 C
Algeria 52 48.7% 474.87 C
Pakistan 53 48.5% 1046.09 C
Colombia 54 48.3% 638.55 C
Thailand 55 48.1% 1075.82 C
Uruguay 56 48.1% 77.62 C
Costa Rica 57 47.9% 88.48 C
Congo, Rep. 58 47.7% 36.81 C
Korea, Rep. 59 47.3% 1686.89 C
Croatia 60 46.2% 101.90 C
Dominican Republic 61 46.2% 178.72 C
Guinea-Bissau 62 46.0% 4.86 C
Togo 63 46.0% 22.20 C
Australia 64 45.9% 866.33 C
Cyprus 65 45.2% 29.49 C
Yemen, Rep. 66 44.9% 26.84 C
Kenya 67 44.6% 256.04 C
Lebanon 68 44.4% 33.50 C
Mexico 69 43.8% 1765.39 C
Panama 70 43.1% 107.09 C
Namibia 71 42.3% 21.04 C
Netherlands 72 41.8% 591.71 C
Jamaica 73 41.2% 19.04 C
Philippines 74 41.1% 777.07 C
Iceland 75 40.8% 12.22 C
Gambia 76 40.7% 6.55 C
Albania 77 40.6% 29.11 C
North Macedonia 78 40.2% 24.91 C
Czechia 79 40.1% 244.79 C
Latvia 80 40.1% 34.65 C
Armenia 81 39.5% 36.64 C
Ecuador 82 39.1% 138.19 C
Lithuania 83 38.6% 65.68 C
Myanmar 84 38.5% 179.20 C
Malta 85 38.4% 18.44 C
Norway 86 38.2% 223.46 C
Mongolia 87 37.8% 32.67 C
Chile 88 36.9% 273.46 C
Ghana 89 34.2% 146.78 B
Uganda 90 34.2% 86.17 B
Liberia 91 34.1% 5.65 B
Cote d'Ivoire 92 34.0% 132.75 B
Switzerland 93 34.0% 275.58 B
Benin 94 33.3% 31.90 B
Lesotho 95 33.2% 3.43 B
Papua New Guinea 96 33.2% 24.01 B
Angola 97 32.8% 220.62 B
Nepal 98 32.5% 80.59 B
Sweden 99 32.2% 246.16 B
Qatar 100 31.5% 126.92 B
Burkina Faso 101 30.6% 34.31 B
Mali 102 30.2% 36.87 B
Serbia 103 30.2% 84.56 B
Botswana 104 29.8% 22.20 B
Honduras 105 29.8% 33.71 B
Tanzania 106 29.4% 132.72 B
Kyrgyzstan 107 29.3% 21.16 B
Moldova 108 29.3% 16.15 B
Ireland 109 28.7% 221.60 B
Bangladesh 110 28.4% 664.05 B
Indonesia 111 28.1% 1840.77 B
Belarus 112 27.6% 100.54 B
Madagascar 113 27.5% 28.97 B
Nicaragua 114 27.4% 23.11 B
Paraguay 115 27.2% 48.85 B
Saudi Arabia 116 27.1% 769.95 B
United Arab Emirates 117 27.0% 265.59 B
Denmark 118 26.8% 129.39 B
Central African Republic 119 26.6% 3.25 B
Mauritania 120 26.4% 14.72 B
Oman 121 26.3% 67.05 B
Luxembourg 122 26.0% 25.50 B
Eswatini 123 25.7% 6.11 B
Ethiopia 124 25.5% 179.86 B
Zimbabwe 125 25.2% 39.59 B
Burundi 126 25.0% 6.41 B
Niger 127 24.5% 23.14 B
Bosnia and Herzegovina 128 24.1% 21.68 B
Uzbekistan 129 23.9% 132.22 B
Bulgaria 130 23.8% 69.31 B
Cameroon 131 23.7% 56.19 B
Sierra Leone 132 23.6% 11.12 B
Comoros 133 23.3% 1.05 B
Estonia 134 23.1% 15.90 B
Georgia 135 22.9% 34.92 B
Guinea 136 22.1% 25.16 B
Guyana 137 21.9% 20.11 B
Vietnam 138 21.9% 520.64 B
Peru 139 21.6% 188.83 B
Nigeria 140 20.6% 825.62 B
Kazakhstan 141 19.9% 210.68 B
Russia 142 19.8% 1541.73 B
Türkiye 143 19.8% 844.11 B
Chad 144 19.7% 16.82 B
Guatemala 145 19.3% 69.47 B
Taiwan 146 17.4% 296.80 B
Tajikistan 147 16.6% 13.17 A
Azerbaijan 148 16.5% 55.28 A
Cambodia 149 16.0% 39.68 A
Hong Kong 150 12.2% 72.22 A
Kuwait 151 7.7% 24.67 A
Congo, Dem. Rep 152 7.5% 28.71 A
Haiti 153 6.4% 3.25 A
Afghanistan 154 4.8% 7.66 A
Turkmenistan 155 2.7% 5.24 A
Brunei 156 1.5% 0.83 A


See: Data for individual countries and underlying data click on the country name Notes: Debt value expressed in current dollar terms.
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Debt grade definitions:
         A: Very low debt
         B: Low debt
         C: Moderate debt
         D: High debt
         E: Very high debt






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