Debt Rankings: 2024

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it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.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 1 212.9% 13434.69 E
Singapore 2 158.1% 1321.78 E
Lebanon 3 126.0% 107.49 E
Sudan 4 123.3% 253.83 E
Greece 5 116.1% 547.90 E
United States 6 114.1% 30680.25 E
Italy 7 113.3% 4271.39 E
Bahrain 8 103.1% 124.97 E
Canada 9 100.9% 2537.68 E
France 10 100.5% 4437.66 E
Libya 11 97.8% 176.10 E
United Kingdom 12 93.7% 3885.64 E
Belgium 13 89.6% 810.14 E
Cabo Verde 14 83.7% 5.61 E
Spain 15 83.7% 2333.58 E
Portugal 16 78.0% 412.62 E
Austria 17 77.2% 488.17 E
Ukraine 18 76.7% 687.76 E
China 19 76.5% 31597.42 E
Finland 20 76.1% 278.24 E
Zambia 21 73.2% 98.48 E
Jordan 22 72.9% 101.25 E
Senegal 23 69.3% 92.38 E
Brazil 24 69.0% 3780.84 E
Mauritius 25 68.6% 29.89 E
Sri Lanka 26 66.5% 287.47 E
Laos 27 64.8% 61.03 E
Mozambique 28 64.6% 53.98 E
Bhutan 29 64.4% 12.34 E
Suriname 30 62.1% 10.56 E
Tunisia 31 61.5% 128.83 E
El Salvador 32 61.4% 65.99 D
Hungary 33 59.3% 290.40 D
Germany 34 59.2% 3411.29 D
Israel 35 58.9% 329.13 D
Bahamas, The 36 58.8% 11.62 D
Egypt 37 58.4% 1705.68 D
Slovenia 38 55.8% 70.46 D
India 39 54.8% 11259.99 D
South Africa 40 54.3% 692.40 D
Morocco 41 54.1% 238.72 D
Rwanda 42 53.3% 35.24 D
Bolivia 43 53.0% 112.67 D
Slovak Republic 44 52.8% 130.14 D
Guinea-Bissau 45 51.5% 4.01 D
Argentina 46 50.9% 873.22 D
Pakistan 47 50.9% 1015.89 D
New Zealand 48 50.2% 142.20 D
Malaysia 49 50.0% 852.49 D
Poland 50 49.9% 1009.22 D
Trinidad and Tobago 51 49.2% 30.09 D
Malawi 52 49.0% 26.23 D
Romania 53 48.6% 488.02 D
Cyprus 54 48.4% 29.31 D
Congo, Rep. 55 48.0% 36.61 D
Costa Rica 56 46.9% 83.44 D
Iceland 57 46.9% 13.66 D
Yemen, Rep. 58 46.8% 27.77 D
Uruguay 59 46.7% 75.41 D
Togo 60 46.2% 18.99 D
Colombia 61 46.1% 596.86 D
Australia 62 45.5% 810.06 D
Jamaica 63 45.3% 19.17 C
Thailand 64 45.2% 1005.96 C
Dominican Republic 65 45.1% 160.61 C
Algeria 66 44.8% 368.37 C
Kenya 67 44.6% 226.05 C
Korea, Rep. 68 44.2% 1461.11 C
Mexico 69 43.9% 1776.62 C
Namibia 70 43.1% 20.13 C
Croatia 71 42.9% 90.97 C
Albania 72 42.4% 27.84 C
Ghana 73 40.9% 155.22 C
Philippines 74 40.6% 703.72 C
Latvia 75 40.0% 34.92 C
Gambia 76 39.6% 5.60 C
Netherlands 77 39.6% 541.24 C
Gabon 78 39.1% 39.36 C
Panama 79 38.9% 96.24 C
North Macedonia 80 38.8% 22.92 C
Armenia 81 38.5% 33.87 C
Malta 82 38.3% 16.25 C
Czechia 83 38.2% 231.84 C
Myanmar 84 38.0% 186.61 C
Ecuador 85 37.9% 137.71 C
Norway 86 37.8% 211.72 C
Lesotho 87 37.6% 3.55 C
Cote d'Ivoire 88 36.8% 124.67 C
Uganda 89 35.7% 77.42 C
Chile 90 35.5% 257.23 C
Liberia 91 35.4% 5.27 C
Papua New Guinea 92 34.9% 23.51 C
Benin 93 34.8% 29.35 C
Lithuania 94 34.6% 56.89 B
Switzerland 95 34.5% 274.53 B
Angola 96 33.3% 175.22 B
Ireland 97 33.0% 224.74 B
Burkina Faso 98 32.9% 30.40 B
Mongolia 99 32.7% 25.32 B
Qatar 100 32.4% 127.67 B
Belarus 101 31.9% 113.38 B
Serbia 102 30.5% 74.97 B
Zimbabwe 103 30.3% 35.22 B
Central African Republic 104 30.2% 3.46 B
Mauritania 105 30.0% 14.78 B
Nepal 106 30.0% 72.85 B
Sweden 107 29.9% 230.40 B
Kyrgyzstan 108 29.4% 17.92 B
Botswana 109 29.1% 20.50 B
Tanzania 110 29.1% 116.32 B
Bangladesh 111 28.9% 603.83 B
Indonesia 112 28.5% 1687.21 B
Madagascar 113 28.5% 27.48 B
Paraguay 114 28.5% 49.09 B
Oman 115 28.1% 66.83 B
Nigeria 116 27.5% 691.04 B
Ethiopia 117 27.2% 158.86 B
Mali 118 27.2% 30.67 B
Cameroon 119 26.9% 57.57 B
Honduras 120 26.8% 31.01 B
Niger 121 26.6% 21.26 B
United Arab Emirates 122 26.6% 246.77 B
Moldova 123 26.5% 14.60 B
Uzbekistan 124 25.7% 111.55 B
Bosnia and Herzegovina 125 25.6% 22.12 A
Nicaragua 126 25.4% 20.45 A
Saudi Arabia 127 24.5% 659.85 A
Sierra Leone 128 24.5% 6.76 A
Luxembourg 129 24.1% 23.62 A
Georgia 130 23.9% 32.06 A
Denmark 131 23.8% 116.05 A
Guinea 132 23.8% 23.09 A
Vietnam 133 23.5% 483.19 A
Comoros 134 23.4% 1.00 A
Eswatini 135 22.2% 5.08 A
Bulgaria 136 21.6% 61.44 A
Peru 137 21.2% 177.25 A
Estonia 138 20.7% 14.47 A
Türkiye 139 20.6% 809.42 A
Guyana 140 20.4% 26.95 A
Tajikistan 141 20.4% 14.21 A
Taiwan 142 20.0% 319.01 A
Burundi 143 19.5% 4.09 A
Guatemala 144 18.6% 63.01 A
Kazakhstan 145 18.6% 185.37 A
Chad 146 18.2% 11.34 A
Russia 147 17.0% 1288.91 A
Cambodia 148 15.7% 26.30 A
Azerbaijan 149 14.2% 46.80 A
Hong Kong 150 10.3% 59.39 A
Congo, Dem. Rep 151 8.6% 25.97 A
Haiti 152 7.5% 3.91 A
Kuwait 153 5.3% 15.79 A
Afghanistan 154 4.0% 7.06 A
Turkmenistan 155 3.4% 4.52 A
Brunei 156 1.5% 0.82 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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