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it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.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 1 208.2% 13138.11 E
Singapore 2 158.7% 1326.79 E
Lebanon 3 125.9% 107.40 E
Greece 4 120.1% 566.77 E
United States 5 116.5% 31325.58 E
Italy 6 113.3% 4271.39 E
Sudan 7 108.5% 223.37 E
Bahrain 8 103.9% 125.94 E
Canada 9 102.2% 2570.38 E
France 10 100.7% 4446.49 E
Libya 11 98.1% 176.64 E
United Kingdom 12 93.3% 3869.06 E
Belgium 13 90.5% 818.28 E
Spain 14 83.5% 2328.00 E
Cabo Verde 15 81.3% 5.45 E
Portugal 16 77.3% 408.92 E
China 17 76.7% 31680.02 E
Austria 18 76.6% 484.37 E
Senegal 19 76.6% 102.11 E
Finland 20 76.5% 279.70 E
Ukraine 21 75.8% 679.69 E
Zambia 22 73.3% 98.61 E
Mauritius 23 72.6% 31.63 E
Jordan 24 70.8% 98.33 E
Brazil 25 68.5% 3753.45 E
Sri Lanka 26 66.6% 287.90 E
Bhutan 27 66.4% 12.73 E
Laos 28 64.4% 60.65 E
Suriname 29 63.9% 10.86 E
Mozambique 30 62.2% 51.97 E
El Salvador 31 61.3% 65.88 E
Hungary 32 60.3% 295.30 D
Tunisia 33 59.9% 125.47 D
Israel 34 59.2% 330.80 D
Egypt 35 58.8% 1717.36 D
Argentina 36 58.7% 1007.03 D
Germany 37 58.4% 3365.20 D
India 38 55.6% 11424.37 D
Bahamas, The 39 54.9% 10.85 D
Slovenia 40 54.7% 69.07 D
Malawi 41 54.0% 28.90 D
Bolivia 42 53.9% 114.58 D
Morocco 43 53.0% 233.87 D
South Africa 44 52.8% 673.27 D
Slovak Republic 45 52.4% 129.15 D
Malaysia 46 50.3% 857.60 D
Rwanda 47 50.3% 33.26 D
Guinea-Bissau 48 49.6% 3.87 D
Pakistan 49 49.5% 987.95 D
Poland 50 49.4% 999.11 D
Congo, Rep. 51 49.0% 37.37 D
New Zealand 52 48.4% 137.10 D
Romania 53 48.3% 485.01 D
Togo 54 47.8% 19.64 D
Trinidad and Tobago 55 47.5% 29.05 D
Costa Rica 56 47.0% 83.62 D
Yemen, Rep. 57 46.9% 27.83 D
Cyprus 58 46.5% 28.16 D
Dominican Republic 59 46.5% 165.60 D
Australia 60 45.7% 813.62 D
Thailand 61 45.6% 1014.86 D
Colombia 62 45.5% 589.09 D
Uruguay 63 45.5% 73.47 C
Kenya 64 44.5% 225.55 C
Croatia 65 43.8% 92.88 C
Gambia 66 43.7% 6.18 C
Korea, Rep. 67 43.2% 1428.06 C
Namibia 68 42.9% 20.04 C
Mexico 69 42.7% 1728.05 C
Albania 70 42.3% 27.78 C
Iceland 71 42.2% 12.29 C
Algeria 72 42.0% 345.35 C
Jamaica 73 41.6% 17.61 C
Philippines 74 40.7% 705.45 C
Netherlands 75 40.3% 550.81 C
Panama 76 40.0% 98.96 C
Latvia 77 39.2% 34.22 C
North Macedonia 78 38.8% 22.92 C
Myanmar 79 38.7% 190.05 C
Czechia 80 38.0% 230.63 C
Armenia 81 37.8% 33.25 C
Gabon 82 37.8% 38.06 C
Norway 83 37.8% 211.72 C
Ecuador 84 37.0% 134.44 C
Ghana 85 36.6% 138.90 C
Malta 86 36.6% 15.53 C
Lesotho 87 36.0% 3.39 C
Mongolia 88 35.9% 27.80 C
Chile 89 35.3% 255.78 C
Cote d'Ivoire 90 35.1% 118.91 C
Burkina Faso 91 35.0% 32.34 C
Liberia 92 34.9% 5.20 C
Lithuania 93 34.6% 56.89 B
Uganda 94 34.6% 75.04 C
Switzerland 95 34.5% 274.53 B
Papua New Guinea 96 33.9% 22.84 B
Benin 97 33.7% 28.42 B
Qatar 98 32.5% 128.06 B
Angola 99 32.2% 169.43 B
Tanzania 100 30.7% 122.72 B
Ethiopia 101 30.5% 178.13 B
Sweden 102 30.4% 234.25 B
Nepal 103 30.1% 73.09 B
Serbia 104 30.1% 73.99 B
Ireland 105 29.7% 202.27 B
Central African Republic 106 29.6% 3.39 B
Bangladesh 107 28.9% 603.83 B
Kyrgyzstan 108 28.9% 17.62 B
Indonesia 109 28.4% 1681.29 B
Honduras 110 28.1% 32.52 B
Madagascar 111 27.7% 26.70 B
Oman 112 27.7% 65.88 B
Moldova 113 27.6% 15.20 B
United Arab Emirates 114 27.6% 256.05 B
Paraguay 115 27.1% 46.68 B
Mauritania 116 27.0% 13.30 B
Belarus 117 26.6% 94.55 B
Denmark 118 26.6% 129.70 B
Botswana 119 26.2% 18.45 B
Nicaragua 120 26.1% 21.02 B
Niger 121 25.8% 20.62 B
Mali 122 25.7% 28.98 B
Cameroon 123 25.6% 54.79 B
Guinea 124 25.5% 24.74 B
Eswatini 125 25.1% 5.75 A
Luxembourg 126 24.8% 24.31 A
Uzbekistan 127 24.2% 105.04 A
Bosnia and Herzegovina 128 23.3% 20.13 A
Zimbabwe 129 23.3% 27.08 A
Georgia 130 22.9% 30.72 A
Sierra Leone 131 22.7% 6.27 A
Vietnam 132 22.5% 462.63 A
Burundi 133 22.3% 4.68 A
Bulgaria 134 22.0% 62.58 A
Comoros 135 21.8% 0.93 A
Guyana 136 21.4% 28.27 A
Saudi Arabia 137 20.5% 552.12 A
Peru 138 20.3% 169.73 A
Estonia 139 19.9% 13.91 A
Taiwan 140 19.6% 312.63 A
Nigeria 141 19.1% 479.96 A
Türkiye 142 18.8% 738.69 A
Guatemala 143 18.4% 62.34 A
Russia 144 18.3% 1387.47 A
Kazakhstan 145 18.2% 181.39 A
Chad 146 16.9% 10.53 A
Tajikistan 147 15.8% 11.01 A
Azerbaijan 148 15.1% 49.76 A
Cambodia 149 15.1% 25.30 A
Hong Kong 150 10.2% 58.82 A
Congo, Dem. Rep 151 10.0% 30.20 A
Haiti 152 7.5% 3.91 A
Kuwait 153 5.2% 15.50 A
Afghanistan 154 4.3% 7.59 A
Turkmenistan 155 2.9% 3.86 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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