Gross Domestic Product (GDP) Debt
Debt to GDP Ratio by Country 2026
Sudan 272%
Highest
Brunei 2.3%
Lowest
Countries Ranked by Debt-to-GDP Ratio
Country | Debt to GDP Ratio 2024 (of GDP)↓ | Central Government Debt 2024 (% of GDP) | General Government Debt 2024 (% of GDP) | |
|---|---|---|---|---|
 | Sudan | 272% | 272% | |
 | Japan | 237% | 201% | 237% |
 | Singapore | 173% | 177% | |
 | Venezuela | 164% | 164% | |
 | Lebanon | 164% | 164% | |
 | Eritrea | 164% | ||
 | Greece | 154% | 170% | 151% |
 | Italy | 135% | 133% | 135% |
 | Bahrain | 134% | 134% | |
 | United States | 124% | 103% | 121% |
 | France | 113% | 94.34% | 113% |
 | Canada | 111% | 52% | 111% |
 | Cape Verde | 109% | 114% | |
 | Bhutan | 108% | 108% | |
 | Belgium | 104% | 85.43% | 104% |
 | Spain | 102% | 93.57% | 102% |
 | Sri Lanka | 96.1% | 99.43% | |
 | Republic of the Congo | 95.4% | 95.44% | |
 | Bolivia | 95% | 101% | |
 | United Kingdom | 93.6% | 101% | 101% |
 | Portugal | 93.6% | 102% | 94.93% |
 | Jordan | 90.2% | 95.9% | |
 | Ukraine | 89.8% | 89.84% | |
 | China | 88.3% | 88.33% | |
 | Malawi | 87.7% | 74.38% | |
 | Suriname | 87.2% | 87.22% | |
 | Zimbabwe | 87% | 94.59% | |
 | Argentina | 83.2% | 85.33% | |
 | Egypt | 82.9% | 90.93% | |
 | Finland | 82.1% | 82.05% | 82.53% |
 | Mauritius | 82.1% | 91.36% | |
 | India | 81.92% | 53.82% | 81.29% |
 | Austria | 81.8% | 62.12% | 81.21% |
 | Bahamas | 81.5% | 77.79% | |
 | Guinea-Bissau | 80.3% | 82.29% | |
 | Pakistan | 80% | 70.07% | |
 | Tunisia | 79.8% | 83.13% | |
 | Fiji | 78.3% | 76.95% | |
 | South Africa | 76.9% | 76.36% | |
 | Mozambique | 76.9% | 96.63% | |
 | Brazil | 76.5% | 83.48% | 87.28% |
 | Costa Rica | 74.18% | 59.78% | 60.17% |
 | Hungary | 73.5% | 74.49% | 73.45% |
 | Gabon | 73.4% | 73.4% | |
 | Gambia | 72% | 73.49% | |
 | Yemen | 70.9% | 70.94% | 70.94% |
 | Ghana | 70.5% | 70.51% | |
 | Malaysia | 70.4% | 62.62% | 70.39% |
 | Uruguay | 70.3% | 58.33% | |
 | Morocco | 70% | 70.03% | |
 | Zambia | 69.6% | 11,494% | |
 | Togo | 69% | 70.62% | |
 | Israel | 69% | 66.46% | 67.85% |
 | Laos | 68.71% | 96.45% | |
 | Jamaica | 67.9% | 69.92% | |
 | Rwanda | 67.2% | 67.24% | |
 | Slovenia | 67% | 61.59% | 67.04% |
 | Kenya | 65.5% | 65.59% | |
 | Namibia | 65.3% | 67.7% | |
 | Thailand | 63.7% | 56.57% | 57.17% |
 | Cyprus | 62.8% | 100% | 65.32% |
 | Maldives | 62.4% | 134% | |
 | Germany | 62.2% | 43.97% | 63.89% |
 | Myanmar | 61.3% | 61.3% | |
 | Colombia | 61.3% | 61.28% | |
 | El Salvador | 61.13% | 56.19% | 87.58% |
 | Seychelles | 61% | 57.8% | |
 | Philippines | 60.7% | 57.06% | |
 | Central African Republic | 60.7% | 60.67% | |
 | Lesotho | 60% | 59.75% | |
 | Slovakia | 59.7% | 64.04% | 58.02% |
 | Iceland | 59.3% | 59.94% | 59.08% |
 | Trinidad and Tobago | 58.36% | 64.48% | |
 | Angola | 58.2% | 62.5% | |
 | Croatia | 57.7% | 56.52% | 57.65% |
 | Panama | 56.6% | 56.62% | |
 | Poland | 55.1% | 45.04% | 55.28% |
 | Norway | 55.1% | 14.88% | 42.72% |
 | Liberia | 54.9% | 56.47% | |
 | Romania | 54.8% | 54.73% | 54.58% |
 | Albania | 54.7% | 59.23% | 55.65% |
 | North Macedonia | 53.8% | 60.67% | 54.83% |
 | Nigeria | 52.9% | 49.66% | 52.9% |
 | Burkina Faso | 52.7% | 52.69% | |
 | Uganda | 51.8% | 51.83% | |
 | Papua New Guinea | 51.1% | 53.7% | |
 | Ecuador | 50.6% | ||
 | Armenia | 50.3% | 50.3% | |
 | Mexico | 49.7% | 45.45% | |
 | Tanzania | 48.2% | 48.21% | |
 | Serbia | 47.2% | 47.2% | 44.48% |
 | Niger | 47% | 47.17% | |
 | South Korea | 46.8% | 44.77% | 52.49% |
 | Latvia | 46.6% | 47.39% | 47.36% |
 | Algeria | 46.2% | 46.2% | |
 | Dominican Republic | 46.2% | 46.12% | |
 | Malta | 46.2% | 46.58% | 47.39% |
 | Paraguay | 45.2% | 38.17% | |
 | New Zealand | 45.2% | 51.15% | |
 | Australia | 43.8% | 36.79% | 49.83% |
 | Netherlands | 43.7% | 43.23% | |
 | Czechia | 43.3% | 43.81% | 42.99% |
 | Sierra Leone | 43% | 43% | |
 | Iraq | 42.9% | 42.91% | |
 | Cameroon | 42.7% | 39.54% | |
 | Nepal | 42.6% | 47.87% | |
 | Belize | 42.6% | 60.95% | |
 | Chile | 41.7% | 41.65% | 41.98% |
 | Qatar | 40.8% | 40.84% | |
 | Mauritania | 40.3% | 44.92% | |
 | Honduras | 39.8% | 47.87% | 41.14% |
 | Nicaragua | 39.1% | 39.12% | 39.12% |
 | Indonesia | 38.8% | 39.21% | 40.19% |
 | Madagascar | 38.8% | 50.41% | |
 | Ireland | 38.8% | 44.79% | 41.11% |
 | Lithuania | 38% | 37.65% | 38.22% |
 | Moldova | 37.8% | 37.57% | 38.13% |
 | Switzerland | 37.6% | 13.65% | 37.58% |
 | Iran | 36.8% | 36.85% | |
 | Equatorial Guinea | 36.2% | 36.2% | |
 | Georgia | 36.1% | 37.87% | |
 | Oman | 35.5% | 35.51% | |
 | Uzbekistan | 35% | 32.65% | |
 | Sweden | 34% | 34.43% | 32.64% |
 | Chad | 33.8% | 33.8% | |
 | Mongolia | 33% | 38.95% | 44.36% |
 | Vietnam | 32.9% | 32.86% | |
 | Peru | 32.8% | 30.92% | |
 | Bangladesh | 32.2% | 40.13% | |
 | United Arab Emirates | 32.1% | 32.11% | |
 | Ethiopia | 32% | 32.3% | |
 | Denmark | 31.1% | 20.24% | 27.99% |
 | Palestine | 30.7% | ||
 | Tajikistan | 29.5% | 29.54% | |
 | Comoros | 28.4% | 30.82% | |
 | Guatemala | 27.9% | 28.24% | |
 | Cambodia | 26.6% | 26.62% | |
 | Luxembourg | 26.3% | 25.98% | |
 | Saudi Arabia | 26.2% | 29.87% | |
 | Kyrgyzstan | 25.9% | 36.64% | 36.64% |
 | Botswana | 24.9% | 32.79% | |
 | Turkey | 24.7% | 21.32% | 25.97% |
 | Guyana | 24.3% | 24.27% | |
 | Bulgaria | 24.1% | 23.55% | 24.08% |
 | Kazakhstan | 23.7% | 24.95% | 24.8% |
 | Estonia | 23.5% | 23.06% | 23.62% |
 | Azerbaijan | 20.9% | 20.85% | |
 | DR Congo | 19.3% | 19.31% | |
 | Eswatini | 19.3% | 37.21% | |
 | Bosnia and Herzegovina | 16.9% | 32.75% | 32.75% |
 | Russia | 16.4% | 20.3% | |
 | Haiti | 14% | 14.95% | |
 | Burundi | 13.1% | 43.18% | |
 | Hong Kong | 9.3% | ||
 | Cayman Islands | 6.4% | ||
 | Turkmenistan | 4.6% | 4.62% | 4.62% |
 | Kuwait | 3% | 3.04% | |
 | Brunei | 2.3% | 2.29% | |
 | Ivory Coast | 59.25% | ||
 | Mali | 51.83% | ||
 | Taiwan | 245% | 26.17% | |
 | Senegal | 114% | ||
 | Guinea | 47.84% | ||
 | South Sudan | 54.32% | ||
 | Belarus | 44.38% | ||
 | Vanuatu | 44.6% | ||
 | Barbados | 104% | ||
 | Sao Tome and Principe | 43.46% | ||
 | Samoa | 27.71% | ||
 | Saint Lucia | 74.77% | ||
 | Kiribati | 9.92% | 9.92% | |
 | Grenada | 73.18% | ||
 | Micronesia | 10.92% | ||
 | Saint Vincent and the Grenadines | 91.61% | 92.69% | |
 | Antigua and Barbuda | 67.06% | ||
 | Dominica | 104% | ||
 | Saint Kitts and Nevis | 52.19% | ||
 | Marshall Islands | 16.68% | ||
 | San Marino | 65.19% | ||
 | Nauru | 17.59% |
- Central government debt refers to debt incurred by a country’s federal/central government only. A surplus on the state or municipal level will have no impact on this indicator.
- General government debt refers to overall debt, including that of states and municipalities. A surplus in one area could offset a shortfall in another. For example, if the central government debt is high but state finances show a surplus, the general government debt could decrease.
- Both of these measures are given as a percentage of GDP.
- All percentages have been rounded to the nearest hundredth of a percent.
Key Findings
Countries with the Highest Debt-to-GDP Ratio
-
Sudan (272%), Japan (237%), Singapore (173%), and Venezuela (164%) have the highest debt-to-GDP ratios.
-
The highest debt burdens are often driven by a mix of slow economic growth, large fiscal deficits, and heavy borrowing accumulated over time rather than by a single short-term shock.
Countries with the Lowest Debt-to-GDP Ratio
-
Cayman Islands (6.4%), Turkmenistan (4.6%), Kuwait (3%), and Brunei (2.3%) have the lowest debt-to-GDP ratios.
-
Lower debt ratios are often associated with stronger fiscal balances, smaller borrowing needs, or economies that can finance public spending without relying heavily on long-term debt.
What Is a High Debt-to-GDP Ratio?
-
A high debt-to-GDP ratio indicates that a country's debt is large relative to the size of its economy, which can make repayment more challenging and limit fiscal flexibility.
-
Economists often point to debt levels above roughly 77% of GDP as a threshold where government debt can begin to weigh more heavily on long-term economic growth, though the impact depends on interest rates, growth, and fiscal policy.
Countries by Government Debt as a Percentage of GDP
Country Comparison
Debt levels vary widely across countries, from very low ratios in fiscally conservative or resource-rich economies to extremely high levels in nations with prolonged deficits or slow growth. Countries with similar debt ratios can face very different risks depending on interest rates, economic growth, and their ability to manage borrowing.
Definitions & Methodology
What Is the Debt-to-GDP Ratio? The debt-to-GDP ratio compares a country's public debt to the size of its economy and is expressed as a percentage. It is commonly used to assess how manageable government debt is relative to national output.
Central vs. General Government Debt Central government debt covers borrowing by the national or federal government only. General government debt is broader and includes central, state, provincial, and local government debt.
Last Updated: May 14, 2026
Sources
- Central Government Debt - IMF
- General Government Debt - IMF
- Country List Government Debt to GDP - Trading Economics
- Factors Impacting the Federal Budget Deficit - The Balance
- Why US Deficit Spending Is Out of Control - The Balance
- Debt to GDP ratio - Wiki
- Venezuela Sinks Further into Oblivion - Forbes
- The Strange Case of Venezuela's National Debt - Venezuelanalysis
