Debt to GDP Ratio by Country 2020

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< 2,000,000,000,000

> 2,000,000,000,000

> 4,000,000,000,000

> 6,000,000,000,000

> 8,000,000,000,000

> 10,000,000,000,000

> 12,000,000,000,000

> 14,000,000,000,000

> 16,000,000,000,000

> 18,000,000,000,000

> 20,000,000,000,000

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 can pay back its debts. If the ratio indicates that a nation cannot pay its government debts, there is a risk of default, which could wreak havoc on the markets.

As of December 2019, the nation with the highest debt-to-GDP ratio is Japan, with a ratio of 237%. In 1992, Japans's Nikkei (stock market) crashed. The government bailed out banks and insurance companies, providing them with low-interest credit. Banks were consolidated and nationalized, and other stimulus initiatives were used to help the struggling economy; however, these caused Japan's debt to increase dramatically.

The next highest ratio is from Greece, which at 177%, lags significantly behind Japan. Lebanon trails with 151% and Italy with 135%.

Brunei has the lowest debt-to-GDP ratio of 2.4%, followed by the Cayman Islands at 5.70% and Afghanistan at 7.10%.

Below is each country's debt-to-GDP ratio.

Debt to GDP Ratio by Country 2020

Country National Debt (US dollars) % of GDP Debt Per Capita (US dollars)
United States19.77 Tn115.00%58,200
United Kingdom8.48 Tn313.00%127,000
France5.69 Tn213.00%87,200
Germany5.40 Tn141.00%65,600
Luxembourg3.78 Tn0.00%6.97 Mn
Japan3.59 Tn74.00%28,200
Italy2.51 Tn124.00%42,300
Spain2.26 Tn167.00%48,700
Canada1.93 Tn115.00%52,300
China1.84 Tn15.00%1,326
Switzerland1.82 Tn269.00%213,100
Australia1.49 Tn126.00%60,800
Singapore1.32 Tn453.00%231,000
Belgium1.28 Tn265.00%112,000
Sweden993.94 Bn177.00%94,500
Austria638.34 Bn167.00%73,100
Norway604.42 Bn169.00%117,000
Brazil556.42 Bn30.00%3,200
Russia537.46 Bn40.00%3,700
India529.00 Bn18.00%380
Denmark491.62 Bn163.00%85,700
Finland483.37 Bn196.00%87,500
Greece477.00 Bn228.00%42,800
Turkey453.21 Bn53.00%5,500
Netherlands451.04 Bn52.20%265,400
Portugal447.02 Bn216.00%43,300
Mexico437.37 Bn38.00%3,300
South Korea407.34 Bn27.00%7,500
Poland363.66 Bn70.00%9,500
Argentina363.12 Bn66.00%8,280
Indonesia335.29 Bn34.00%1,300
Malaysia227.84 Bn75.00%6,800
Ireland227.60 Bn64.00%49,000
United Arab Emirates220.40 Bn59.00%23,500
Saudi Arabia200.90 Bn31.00%6,100
Mauritius199.71 Bn0.00%148,000
Taiwan199.05 Bn33.00%7,400
New Zealand198.81 Bn100.00%40,300
Chile183.29 Bn66.00%9,000
Puerto Rico167.40 Bn164.00%47,800
Kazakhstan165.50 Bn117.00%9,100
Qatar159.20 Bn102.00%68,100
Thailand149.43 Bn33.00%2,170
Hungary148.02 Bn121.00%15,000
South Africa142.83 Bn48.00%2,600
Czech Republic137.61 Bn70.00%13,000
Colombia121.10 Bn43.00%2,500
Cyprus119.67 Bn597.00%97,200
Ukraine114.84 Bn122.00%2,600
Venezuela110.88 Bn23.00%3,500
Romania108.88 Bn55.00%5,100
Hong Kong108.16 Bn35.00%14,820
Pakistan105.84 Bn36.00%380
Malta96.25 Bn879.00%223,000
Israel89.44 Bn26.00%10,700
Slovakia86.63 Bn91.00%15,900
Peru74.65 Bn38.00%2,300
Philippines72.49 Bn25.00%720
Iraq68.01 Bn44.00%1,800
Egypt67.32 Bn41.00%700
Vietnam50.94 Bn26.00%500
Slovenia49.95 Bn109.00%24,000
Morocco48.83 Bn44.00%1,400
Kuwait47.89 Bn43.00%11,700
Sri Lanka46.59 Bn59.00%2,200
Croatia46.08 Bn87.00%10,700
Sudan45.00 Bn47.00%1,100
Latvia41.15 Bn147.00%21,200
Bulgaria40.42 Bn66.00%5,700
Belarus38.98 Bn83.00%4,000
Angola37.70 Bn41.00%1,400
Ecuador36.75 Bn35.00%2,100
Lithuania36.43 Bn86.00%12,700
Serbia27.95 Bn78.00%3,200
Lebanon27.80 Bn54.00%4,600
Jordan27.76 Bn30.00%3,400
Cuba26.32 Bn34.00%2,300
Uruguay26.15 Bn50.00%7,600
Dominican Republic26.05 Bn36.00%2,400
Bangladesh25.96 Bn12.00%160
Mongolia25.21 Bn186.00%7,800
Tunisia25.12 Bn56.00%2,200
Costa Rica24.91 Bn43.00%5,100
Iceland24.39 Bn118.00%72,700
Ethiopia22.49 Bn32.00%220
Kenya22.17 Bn26.00%370
Papua New Guinea22.04 Bn111.00%2,800
Trinidad And Tobago21.53 Bn76.00%15,700
Ghana21.17 Bn50.00%700
Bahrain21.16 Bn66.00%14,900
Oman20.85 Bn35.00%4,400
Estonia20.53 Bn91.00%15,700
Guatemala19.09 Bn28.00%1,100
Palau18.38 Bn0.00%846,000
Panama18.34 Bn30.00%4,400
Bahamas17.56 Bn194.00%44,200
Jamaica16.76 Bn122.00%6,000
Monaco16.50 Bn240.00%434,000
Georgia16.42 Bn108.00%3,900
Paraguay16.12 Bn58.00%2,400
Tanzania15.89 Bn34.00%280
Uzbekistan15.75 Bn24.00%500
Nigeria15.05 Bn3.00%60
El Salvador14.90 Bn56.00%2,400
Laos11.98 Bn87.00%1,700
Nicaragua11.10 Bn83.00%1,800
Zimbabwe10.90 Bn77.00%670
Armenia10.04 Bn94.00%3,300
Ivory Coast10.03 Bn28.00%420
Cambodia9.82 Bn49.00%600
Mozambique9.55 Bn79.00%320
Zambia9.27 Bn45.00%540
Albania8.63 Bn73.00%2,900
Honduras8.04 Bn38.00%1,000
Kyrgyzstan7.87 Bn120.00%1,300
Macedonia7.65 Bn74.00%3,700
Cameroon7.38 Bn24.00%300
Yemen7.19 Bn21.00%260
Iran7.12 Bn2.00%90
Azerbaijan6.91 Bn20.00%1,300
Moldova6.59 Bn98.00%1,600
Namibia6.51 Bn64.00%2,500
Myanmar6.40 Bn17.00%120
Bolivia6.34 Bn19.00%600
Uganda6.24 Bn24.00%150
Senegal6.19 Bn42.00%390
Syria5.92 Bn24.00%300
Dr Congo5.33 Bn13.00%70
Gabon5.16 Bn35.00%2,900
North Korea5.00 Bn18.00%200
Republic Of The Congo4.82 Bn55.00%1,000
Bosnia And Herzegovina4.72 Bn31.00%1,300
Barbados4.49 Bn100.00%15,700
Madagascar4.01 Bn41.00%160
Mali3.63 Bn26.00%200
Mauritania3.58 Bn76.00%840
Libya3.53 Bn9.00%550
Nepal3.45 Bn16.00%120
Algeria3.14 Bn2.00%80
Burkina Faso3.09 Bn26.00%160
Somalia3.05 Bn52.00%270
Niger2.73 Bn36.00%130
Montenegro2.64 Bn60.00%4,260
Seychelles2.55 Bn180.00%26,200
Rwanda2.44 Bn29.00%200
Bermuda2.44 Bn47.00%39,700
Benin2.34 Bn26.00%200
Tajikistan2.27 Bn35.00%260
Bhutan2.26 Bn108.00%2,900
Haiti2.02 Bn24.00%180
Malawi1.92 Bn35.00%100
Chad1.88 Bn18.00%130
Botswana1.69 Bn10.00%720
Palestine1.66 Bn17.00%340
Cape Verde1.66 Bn99.00%3,100
Sierra Leone1.56 Bn36.00%230
Equatorial Guinea1.36 Bn12.00%1,500
Djibouti1.34 Bn71.00%1,500
Guinea1.33 Bn20.00%100
Belize1.33 Bn75.00%3,500
Afghanistan1.28 Bn7.00%40
Suriname1.24 Bn30.00%2,200
Togo1.17 Bn26.00%150
Guyana1.14 Bn36.00%1,500
Liberia1.11 Bn51.00%230
Guinea Bissau1.09 Bn94.00%570
Lesotho948.80 Mn53.00%430
Faroe Islands888.80 Mn38.00%18,400
Fiji833.40 Mn18.00%900
Eritrea820.20 Mn15.00%150
Maldives741.60 Mn23.00%2,000
Burundi705.20 Mn26.00%60
Aruba693.20 Mn28.00%6,600
Central African Republic686.90 Mn39.00%130
Grenada679.00 Mn66.00%6,300
Gambia541.80 Mn61.00%260
Saint Lucia513.20 Mn36.00%2,700
Turkmenistan502.80 Mn1.00%90
Solomon Islands491.50 Mn40.00%800
Swaziland470.50 Mn14.00%360
Samoa447.20 Mn51.00%2,300
Antigua And Barbuda441.20 Mn34.00%4,700
San Marino352.00 Mn22.50%10,604
Saint Vincent And The Grenadines321.10 Mn42.00%2,900
Timor Leste311.50 Mn12.00%250
Dominica288.60 Mn55.00%3,900
Cook Islands281.20 Mn23.00%13,400
Sao Tome And Principe236.50 Mn67.00%1,200
Tonga233.10 Mn54.00%2,200
Vanuatu208.10 Mn27.00%750
Saint Kitts And Nevis187.50 Mn20.00%3,300
Comoros133.30 Mn21.00%160
New Caledonia112.00 Mn1.00%420
Marshall Islands97.96 Mn52.00%1,800
Micronesia93.60 Mn29.00%900
Cayman Islands79.00 Mn7.00%2,100
Greenland36.40 Mn2.00%650
Nauru33.30 Mn22.00%3,200
British Virgin Islands17.67 Mn2.00%570
Kiribati13.60 Mn8.00%120
Anguilla8.80 Mn5.00%590
Wallis And Futuna3.67 Mn6.00%280
Montserrat1.04 Mn2.00%200
South Sudan0.00%