There are many different equations used to determine how economically sound a nation is, and one of these calculations is the debt-to-GDP ratio. This ratio measures a country’s government debt compared to its gross domestic product (GDP) – or the value of all goods and services produced by the country.
The debt-to-GDP ratio is usually expressed as a percentage and is used to indicate whether or not a country is able to pay back its debts. If the ratio indicates that a nation is unable to pay its government debts, there is a risk of default, which could wreak havoc on the markets.
As of June 2019, the nation with the highest debt-to-GDP ratio is Japan with a ratio of 253%. The next highest ratio is from Greece, which at 181.1%, lags significantly behind Japan.
Lebanon has the next highest debt-to-GDP ratio at 152%, followed by Italy at 123.4%. Other nations with high debt-to-GDP ratios include:
The nations with the lowest debt-to-GDP ratios include:
Flag | Country | National Debt (US dollars) | % of GDP | Debt Per Capita (US dollars) |
![]() | United States | 19.77 trillion | 115.00% | 58,200 |
![]() | United Kingdom | 8.48 trillion | 313.00% | 127,000 |
![]() | France | 5.69 trillion | 213.00% | 87,200 |
![]() | Germany | 5.40 trillion | 141.00% | 65,600 |
![]() | Netherlands | 4.51 trillion | 522.00% | 265,400 |
![]() | Luxembourg | 3.78 trillion | 0.00% | 6.97 million |
![]() | Japan | 3.59 trillion | 74.00% | 28,200 |
![]() | Italy | 2.51 trillion | 124.00% | 42,300 |
![]() | Spain | 2.26 trillion | 167.00% | 48,700 |
![]() | Canada | 1.93 trillion | 115.00% | 52,300 |
![]() | China | 1.84 trillion | 15.00% | 1,326 |
![]() | Switzerland | 1.82 trillion | 269.00% | 213,100 |
![]() | Australia | 1.49 trillion | 126.00% | 60,800 |
![]() | Singapore | 1.32 trillion | 453.00% | 231,000 |
![]() | Belgium | 1.28 trillion | 265.00% | 112,000 |
![]() | Sweden | 993.94 billion | 177.00% | 94,500 |
![]() | Austria | 638.34 billion | 167.00% | 73,100 |
![]() | Norway | 604.42 billion | 169.00% | 117,000 |
![]() | Brazil | 556.42 billion | 30.00% | 3,200 |
![]() | Russia | 537.46 billion | 40.00% | 3,700 |
![]() | India | 529.00 billion | 18.00% | 380 |
![]() | Denmark | 491.62 billion | 163.00% | 85,700 |
![]() | Finland | 483.37 billion | 196.00% | 87,500 |
![]() | Greece | 477.00 billion | 228.00% | 42,800 |
![]() | Turkey | 453.21 billion | 53.00% | 5,500 |
![]() | Portugal | 447.02 billion | 216.00% | 43,300 |
![]() | Mexico | 437.37 billion | 38.00% | 3,300 |
![]() | South Korea | 407.34 billion | 27.00% | 7,500 |
![]() | Poland | 363.66 billion | 70.00% | 9,500 |
![]() | Argentina | 363.12 billion | 66.00% | 8,280 |
![]() | Indonesia | 335.29 billion | 34.00% | 1,300 |
![]() | Malaysia | 227.84 billion | 75.00% | 6,800 |
![]() | Ireland | 227.60 billion | 64.00% | 49,000 |
![]() | United Arab Emirates | 220.40 billion | 59.00% | 23,500 |
![]() | Saudi Arabia | 200.90 billion | 31.00% | 6,100 |
![]() | Mauritius | 199.71 billion | 0.00% | 148,000 |
![]() | Taiwan | 199.05 billion | 33.00% | 7,400 |
![]() | New Zealand | 198.81 billion | 100.00% | 40,300 |
![]() | Chile | 183.29 billion | 66.00% | 9,000 |
![]() | Puerto Rico | 167.40 billion | 164.00% | 47,800 |
![]() | Kazakhstan | 165.50 billion | 117.00% | 9,100 |
![]() | Qatar | 159.20 billion | 102.00% | 68,100 |
![]() | Thailand | 149.43 billion | 33.00% | 2,170 |
![]() | Hungary | 148.02 billion | 121.00% | 15,000 |
![]() | South Africa | 142.83 billion | 48.00% | 2,600 |
![]() | Czech Republic | 137.61 billion | 70.00% | 13,000 |
![]() | Colombia | 121.10 billion | 43.00% | 2,500 |
![]() | Cyprus | 119.67 billion | 597.00% | 97,200 |
![]() | Ukraine | 114.84 billion | 122.00% | 2,600 |
![]() | Venezuela | 110.88 billion | 23.00% | 3,500 |
![]() | Romania | 108.88 billion | 55.00% | 5,100 |
![]() | Hong Kong | 108.16 billion | 35.00% | 14,820 |
![]() | Pakistan | 105.84 billion | 36.00% | 380 |
![]() | Malta | 96.25 billion | 879.00% | 223,000 |
![]() | Israel | 89.44 billion | 26.00% | 10,700 |
![]() | Slovakia | 86.63 billion | 91.00% | 15,900 |
![]() | Peru | 74.65 billion | 38.00% | 2,300 |
![]() | Philippines | 72.49 billion | 25.00% | 720 |
![]() | Iraq | 68.01 billion | 44.00% | 1,800 |
![]() | Egypt | 67.32 billion | 41.00% | 700 |
![]() | Vietnam | 50.94 billion | 26.00% | 500 |
![]() | Slovenia | 49.95 billion | 109.00% | 24,000 |
![]() | Morocco | 48.83 billion | 44.00% | 1,400 |
![]() | Kuwait | 47.89 billion | 43.00% | 11,700 |
![]() | Sri Lanka | 46.59 billion | 59.00% | 2,200 |
![]() | Croatia | 46.08 billion | 87.00% | 10,700 |
![]() | Sudan | 45.00 billion | 47.00% | 1,100 |
![]() | Latvia | 41.15 billion | 147.00% | 21,200 |
![]() | Bulgaria | 40.42 billion | 66.00% | 5,700 |
![]() | Belarus | 38.98 billion | 83.00% | 4,000 |
![]() | Angola | 37.70 billion | 41.00% | 1,400 |
![]() | Ecuador | 36.75 billion | 35.00% | 2,100 |
![]() | Lithuania | 36.43 billion | 86.00% | 12,700 |
![]() | Serbia | 27.95 billion | 78.00% | 3,200 |
![]() | Lebanon | 27.80 billion | 54.00% | 4,600 |
![]() | Jordan | 27.76 billion | 30.00% | 3,400 |
![]() | Cuba | 26.32 billion | 34.00% | 2,300 |
![]() | Uruguay | 26.15 billion | 50.00% | 7,600 |
![]() | Dominican Republic | 26.05 billion | 36.00% | 2,400 |
![]() | Bangladesh | 25.96 billion | 12.00% | 160 |
![]() | Mongolia | 25.21 billion | 186.00% | 7,800 |
![]() | Tunisia | 25.12 billion | 56.00% | 2,200 |
![]() | Costa Rica | 24.91 billion | 43.00% | 5,100 |
![]() | Iceland | 24.39 billion | 118.00% | 72,700 |
![]() | Ethiopia | 22.49 billion | 32.00% | 220 |
![]() | Kenya | 22.17 billion | 26.00% | 370 |
![]() | Papua New Guinea | 22.04 billion | 111.00% | 2,800 |
![]() | Ghana | 21.17 billion | 50.00% | 700 |
![]() | Bahrain | 21.16 billion | 66.00% | 14,900 |
![]() | Oman | 20.85 billion | 35.00% | 4,400 |
![]() | Estonia | 20.53 billion | 91.00% | 15,700 |
![]() | Guatemala | 19.09 billion | 28.00% | 1,100 |
![]() | Palau | 18.38 billion | 0.00% | 846,000 |
![]() | Panama | 18.34 billion | 30.00% | 4,400 |
![]() | Bahamas | 17.56 billion | 194.00% | 44,200 |
![]() | Jamaica | 16.76 billion | 122.00% | 6,000 |
![]() | Monaco | 16.50 billion | 240.00% | 434,000 |
![]() | Georgia | 16.42 billion | 108.00% | 3,900 |
![]() | Paraguay | 16.12 billion | 58.00% | 2,400 |
![]() | Tanzania | 15.89 billion | 34.00% | 280 |
![]() | Uzbekistan | 15.75 billion | 24.00% | 500 |
![]() | Nigeria | 15.05 billion | 3.00% | 60 |
![]() | El Salvador | 14.90 billion | 56.00% | 2,400 |
![]() | Laos | 11.98 billion | 87.00% | 1,700 |
![]() | Nicaragua | 11.10 billion | 83.00% | 1,800 |
![]() | Zimbabwe | 10.90 billion | 77.00% | 670 |
![]() | Armenia | 10.04 billion | 94.00% | 3,300 |
![]() | Ivory Coast | 10.03 billion | 28.00% | 420 |
![]() | Cambodia | 9.82 billion | 49.00% | 600 |
![]() | Mozambique | 9.55 billion | 79.00% | 320 |
![]() | Zambia | 9.27 billion | 45.00% | 540 |
![]() | Albania | 8.63 billion | 73.00% | 2,900 |
![]() | Honduras | 8.04 billion | 38.00% | 1,000 |
![]() | Kyrgyzstan | 7.87 billion | 120.00% | 1,300 |
![]() | Cameroon | 7.38 billion | 24.00% | 300 |
![]() | Yemen | 7.19 billion | 21.00% | 260 |
![]() | Iran | 7.12 billion | 2.00% | 90 |
![]() | Azerbaijan | 6.91 billion | 20.00% | 1,300 |
![]() | Moldova | 6.59 billion | 98.00% | 1,600 |
![]() | Namibia | 6.51 billion | 64.00% | 2,500 |
![]() | Myanmar | 6.40 billion | 17.00% | 120 |
![]() | Bolivia | 6.34 billion | 19.00% | 600 |
![]() | Uganda | 6.24 billion | 24.00% | 150 |
![]() | Senegal | 6.19 billion | 42.00% | 390 |
![]() | Syria | 5.92 billion | 24.00% | 300 |
![]() | Gabon | 5.16 billion | 35.00% | 2,900 |
![]() | North Korea | 5.00 billion | 18.00% | 200 |
![]() | Republic Of The Congo | 4.82 billion | 55.00% | 1,000 |
![]() | Bosnia And Herzegovina | 4.72 billion | 31.00% | 1,300 |
![]() | Barbados | 4.49 billion | 100.00% | 15,700 |
![]() | Madagascar | 4.01 billion | 41.00% | 160 |
![]() | Mali | 3.63 billion | 26.00% | 200 |
![]() | Mauritania | 3.58 billion | 76.00% | 840 |
![]() | Libya | 3.53 billion | 9.00% | 550 |
![]() | Nepal | 3.45 billion | 16.00% | 120 |
![]() | Algeria | 3.14 billion | 2.00% | 80 |
![]() | Burkina Faso | 3.09 billion | 26.00% | 160 |
![]() | Somalia | 3.05 billion | 52.00% | 270 |
![]() | Niger | 2.73 billion | 36.00% | 130 |
![]() | Montenegro | 2.64 billion | 60.00% | 4,260 |
![]() | Seychelles | 2.55 billion | 180.00% | 26,200 |
![]() | Rwanda | 2.44 billion | 29.00% | 200 |
![]() | Bermuda | 2.44 billion | 47.00% | 39,700 |
![]() | Benin | 2.34 billion | 26.00% | 200 |
![]() | Tajikistan | 2.27 billion | 35.00% | 260 |
![]() | Bhutan | 2.26 billion | 108.00% | 2,900 |
![]() | Haiti | 2.02 billion | 24.00% | 180 |
![]() | Malawi | 1.92 billion | 35.00% | 100 |
![]() | Chad | 1.88 billion | 18.00% | 130 |
![]() | Botswana | 1.69 billion | 10.00% | 720 |
![]() | Palestine | 1.66 billion | 17.00% | 340 |
![]() | Cape Verde | 1.66 billion | 99.00% | 3,100 |
![]() | Sierra Leone | 1.56 billion | 36.00% | 230 |
![]() | Equatorial Guinea | 1.36 billion | 12.00% | 1,500 |
![]() | Djibouti | 1.34 billion | 71.00% | 1,500 |
![]() | Guinea | 1.33 billion | 20.00% | 100 |
![]() | Belize | 1.33 billion | 75.00% | 3,500 |
![]() | Afghanistan | 1.28 billion | 7.00% | 40 |
![]() | Suriname | 1.24 billion | 30.00% | 2,200 |
![]() | Togo | 1.17 billion | 26.00% | 150 |
![]() | Guyana | 1.14 billion | 36.00% | 1,500 |
![]() | Liberia | 1.11 billion | 51.00% | 230 |
![]() | Guinea Bissau | 1.09 billion | 94.00% | 570 |
![]() | Lesotho | 948.80 million | 53.00% | 430 |
![]() | Faroe Islands | 888.80 million | 38.00% | 18,400 |
![]() | Fiji | 833.40 million | 18.00% | 900 |
![]() | Eritrea | 820.20 million | 15.00% | 150 |
![]() | Maldives | 741.60 million | 23.00% | 2,000 |
![]() | Burundi | 705.20 million | 26.00% | 60 |
![]() | Aruba | 693.20 million | 28.00% | 6,600 |
![]() | Central African Republic | 686.90 million | 39.00% | 130 |
![]() | Grenada | 679.00 million | 66.00% | 6,300 |
![]() | Saint Lucia | 513.20 million | 36.00% | 2,700 |
![]() | Turkmenistan | 502.80 million | 1.00% | 90 |
![]() | Solomon Islands | 491.50 million | 40.00% | 800 |
![]() | Samoa | 447.20 million | 51.00% | 2,300 |
![]() | Antigua And Barbuda | 441.20 million | 34.00% | 4,700 |
![]() | San Marino | 352.00 million | 22.50% | 10,604 |
![]() | Saint Vincent And The Grenadines | 321.10 million | 42.00% | 2,900 |
![]() | Dominica | 288.60 million | 55.00% | 3,900 |
![]() | Cook Islands | 281.20 million | 23.00% | 13,400 |
![]() | Sao Tome And Principe | 236.50 million | 67.00% | 1,200 |
![]() | Tonga | 233.10 million | 54.00% | 2,200 |
![]() | Vanuatu | 208.10 million | 27.00% | 750 |
![]() | Saint Kitts And Nevis | 187.50 million | 20.00% | 3,300 |
![]() | Comoros | 133.30 million | 21.00% | 160 |
![]() | New Caledonia | 112.00 million | 1.00% | 420 |
![]() | Marshall Islands | 97.96 million | 52.00% | 1,800 |
![]() | Cayman Islands | 79.00 million | 7.00% | 2,100 |
![]() | Greenland | 36.40 million | 2.00% | 650 |
![]() | Nauru | 33.30 million | 22.00% | 3,200 |
![]() | British Virgin Islands | 17.67 million | 2.00% | 570 |
![]() | Kiribati | 13.60 million | 8.00% | 120 |
![]() | Anguilla | 8.80 million | 5.00% | 590 |
![]() | Wallis And Futuna | 3.67 million | 6.00% | 280 |
![]() | Montserrat | 1.04 million | 2.00% | 200 |
![]() | Brunei | 0.00% | ||
![]() | South Sudan | 0.00% | ||
![]() | Niue | 0.00% | ||
![]() | Macau | 0.00% | ||
![]() | Liechtenstein | 0.00% | ||
![]() | Andorra | 0.00% |