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it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.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 1 227.7% 14368.62 E
Sudan 2 168.6% 347.09 E
Singapore 3 158.3% 1323.45 E
Lebanon 4 149.8% 127.79 E
Greece 5 129.9% 613.02 E
Italy 6 113.0% 4260.08 E
United States 7 112.7% 30303.80 E
Libya 8 97.8% 176.10 E
France 9 97.0% 4283.12 E
Canada 10 95.1% 2391.81 E
Bahrain 11 92.4% 112.00 E
United Kingdom 12 91.9% 3811.00 E
Belgium 13 88.4% 799.29 E
Spain 14 85.1% 2372.61 E
Cabo Verde 15 84.8% 5.68 E
Portugal 16 80.2% 424.26 E
Sri Lanka 17 77.6% 335.45 E
Laos 18 76.9% 72.43 E
Austria 19 73.3% 463.51 E
Zambia 20 73.2% 98.48 D
Jordan 21 72.2% 100.28 E
Finland 22 71.7% 262.15 E
China 23 71.6% 29573.53 E
Bhutan 24 71.3% 13.67 E
Ukraine 25 66.7% 598.09 E
Mauritius 26 65.9% 28.71 E
Brazil 27 65.7% 3600.02 E
Argentina 28 63.7% 1092.81 D
Tunisia 29 62.1% 130.08 E
Mozambique 30 61.4% 51.30 E
Suriname 31 61.4% 10.44 E
Egypt 32 61.3% 1790.38 E
Hungary 33 59.3% 290.40 E
El Salvador 34 59.2% 63.63 D
Bahamas, The 35 58.3% 11.52 E
Israel 36 58.0% 324.10 D
Germany 37 56.8% 3273.00 D
Cyprus 38 56.7% 34.34 D
India 39 56.7% 11650.39 D
Malawi 40 56.7% 30.35 D
Yemen, Rep. 41 55.8% 33.11 D
Slovenia 42 55.3% 69.83 D
Bolivia 43 53.9% 114.58 D
Morocco 44 53.9% 237.84 D
Iceland 45 53.5% 15.58 D
Senegal 46 52.4% 69.85 D
Slovak Republic 47 52.0% 128.16 D
South Africa 48 51.2% 652.87 D
Ghana 49 50.8% 192.80 D
Guinea-Bissau 50 50.0% 3.90 D
Congo, Rep. 51 49.0% 37.37 D
Rwanda 52 49.0% 32.40 D
Malaysia 53 48.8% 832.03 D
Costa Rica 54 48.2% 85.76 D
Burundi 55 48.0% 10.07 C
Pakistan 56 47.8% 954.02 D
Jamaica 57 47.6% 20.15 D
Togo 58 46.3% 19.03 D
Croatia 59 46.0% 97.55 D
Dominican Republic 60 45.8% 163.10 C
Kenya 61 45.6% 231.12 D
Poland 62 45.6% 922.26 C
Albania 63 45.5% 29.88 C
Thailand 64 45.5% 1012.63 C
Namibia 65 45.0% 21.02 D
Australia 66 44.1% 785.13 C
Uruguay 67 44.1% 71.21 D
Romania 68 44.0% 441.83 C
Colombia 69 43.1% 558.02 C
Korea, Rep. 70 42.9% 1418.14 D
New Zealand 71 42.9% 121.52 C
Trinidad and Tobago 72 42.8% 26.18 C
Mexico 73 41.8% 1691.63 C
North Macedonia 74 41.4% 24.46 C
Netherlands 75 40.5% 553.54 C
Philippines 76 40.2% 696.79 C
Gambia 77 39.1% 5.53 C
Ecuador 78 38.9% 141.35 C
Ireland 79 38.1% 259.48 C
Lesotho 80 37.8% 3.56 C
Norway 81 37.8% 211.72 B
Burkina Faso 82 37.7% 34.84 C
Czechia 83 37.6% 228.20 C
Cote d'Ivoire 84 37.5% 127.04 C
Latvia 85 37.5% 32.74 B
Armenia 86 37.1% 32.64 C
Malta 87 37.0% 15.70 C
Myanmar 88 36.9% 181.21 C
Panama 89 36.6% 90.55 B
Zimbabwe 90 36.4% 42.31 D
Gabon 91 36.2% 36.44 C
Benin 92 35.7% 30.11 C
Liberia 93 35.6% 5.30 B
Algeria 94 35.4% 291.08 C
Papua New Guinea 95 34.6% 23.31 B
Uganda 96 34.0% 73.74 B
Chile 97 33.8% 244.91 B
Serbia 98 33.4% 82.10 B
Qatar 99 32.9% 129.64 B
Mongolia 100 32.6% 25.25 C
Sweden 101 32.3% 248.89 B
Kyrgyzstan 102 31.9% 19.45 C
Lithuania 103 31.6% 51.96 B
Niger 104 31.6% 25.25 B
Madagascar 105 30.8% 29.69 B
Belarus 106 30.7% 109.12 B
Angola 107 30.6% 161.01 C
Nepal 108 30.2% 73.33 B
Switzerland 109 29.8% 237.13 B
Central African Republic 110 29.7% 3.40 B
Mali 111 29.2% 32.93 B
Tanzania 112 29.2% 116.72 B
Mauritania 113 29.0% 14.29 B
Indonesia 114 28.1% 1663.53 B
Bangladesh 115 27.6% 576.67 B
Honduras 116 27.4% 31.71 B
Cameroon 117 27.2% 58.21 B
Paraguay 118 27.2% 46.85 B
Oman 119 27.0% 64.22 B
Moldova 120 26.9% 14.82 B
Nigeria 121 26.8% 673.45 A
Uzbekistan 122 26.7% 115.89 B
Bosnia and Herzegovina 123 26.1% 22.55 A
Nicaragua 124 26.0% 20.94 B
United Arab Emirates 125 25.5% 236.57 A
Georgia 126 25.4% 34.07 B
Denmark 127 25.2% 122.88 A
Comoros 128 25.0% 1.07 B
Luxembourg 129 24.5% 24.01 A
Vietnam 130 23.7% 487.30 A
Eswatini 131 23.6% 5.40 A
Sierra Leone 132 23.6% 6.52 C
Guinea 133 22.7% 22.02 A
Taiwan 134 22.0% 350.91 A
Tajikistan 135 22.0% 15.33 A
Ethiopia 136 21.8% 127.32 A
Peru 137 21.5% 179.76 A
Saudi Arabia 138 19.9% 535.96 A
Türkiye 139 19.5% 766.19 A
Guyana 140 18.8% 24.84 A
Bulgaria 141 18.3% 52.05 A
Guatemala 142 18.3% 62.00 A
Kazakhstan 143 18.2% 181.39 A
Estonia 144 17.8% 12.44 A
Chad 145 16.9% 10.53 A
Russia 146 15.8% 1197.93 A
Botswana 147 15.3% 10.78 A
Cambodia 148 14.3% 23.96 A
Azerbaijan 149 13.9% 45.81 A
Haiti 150 8.9% 4.64 A
Hong Kong 151 7.9% 45.55 A
Congo, Dem. Rep 152 6.1% 18.42 A
Kuwait 153 5.2% 15.50 A
Afghanistan 154 3.8% 6.71 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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