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Economies by Debt Levels

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it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.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 Global
Rank
Region
Rank
Revised
Debt to GDP %
Revised
Debt (Billions $)
GDP Data Quality Grade
Japan 1 1 240.0 13535.90 A
Greece 2 1 156.8 624.48 A
Lebanon 3 1 130.7 120.53 B
United States 4 1 123.6 27837.43 A
Italy 5 2 121.9 3735.59 A
Singapore 6 2 120.3 758.81 A
Cabo Verde 7 1 117.0 5.54 B
Portugal 8 3 106.0 440.31 A
Canada 9 2 100.8 2053.25 A
France 10 4 99.3 3425.16 A
Spain 11 5 97.8 2139.69 A
Bahrain 12 2 96.1 92.70 B
Sudan 13 2 94.3 319.05 D
Belgium 14 6 90.8 647.42 A
Suriname 15 3 87.8 11.25 D
Bhutan 16 3 87.5 10.58 D
Libya 17 3 86.9 303.91 D
United Kingdom 18 7 86.4 2938.21 A
Mauritius 19 4 83.7 25.79 A
Cyprus 20 8 81.8 38.07 A
Austria 21 9 76.4 401.39 A
Bahamas, The 22 4 75.7 13.17 B
Zambia 23 5 74.6 77.42 C
Jordan 24 3 73.8 93.86 B
Sri Lanka 25 4 72.6 304.95 C
Mongolia 26 5 72.0 36.93 B
Brazil 27 5 69.8 2908.38 B
Mozambique 28 6 67.7 40.18 C
Laos 29 6 67.7 55.27 C
Iceland 30 10 65.9 15.03 A
Jamaica 31 6 64.1 24.79 D
Egypt 32 7 63.7 1181.81 C
Hungary 33 11 63.4 253.88 B
Germany 34 12 63.1 3085.56 A
Tunisia 35 8 62.9 102.57 C
Croatia 36 13 62.5 97.95 A
Slovenia 37 14 60.3 62.88 A
China 38 7 60.2 18234.59 B
Finland 39 15 58.2 179.63 A
Argentina 40 7 57.9 793.72 C
Morocco 41 9 57.9 214.15 B
El Salvador 42 8 57.3 47.72 C
Israel 43 4 57.0 268.19 A
Albania 44 16 56.2 30.13 B
Australia 45 8 54.4 783.13 A
Costa Rica 46 9 54.0 74.58 A
Algeria 47 10 53.2 305.79 B
Ghana 48 11 52.8 144.19 B
Slovak Republic 49 17 52.6 103.60 B
India 50 9 51.8 8038.42 C
Pakistan 51 10 51.7 787.32 B
Netherlands 52 18 51.6 564.94 A
Gambia 53 12 50.8 4.57 D
Ireland 54 19 49.2 283.91 A
Senegal 55 13 49.0 44.64 B
Malaysia 56 11 48.6 609.09 B
Colombia 57 10 48.5 489.09 B
South Africa 58 14 48.3 545.02 B
Trinidad and Tobago 59 11 47.9 21.72 C
Oman 60 5 47.9 100.32 B
Uruguay 61 12 47.3 52.96 C
Dominican Republic 62 13 47.0 130.33 B
Bolivia 63 14 46.8 80.28 D
Angola 64 15 46.6 174.48 D
Namibia 65 16 46.5 15.87 C
Guinea-Bissau 66 17 46.4 3.04 D
Rwanda 67 18 46.3 20.54 B
Qatar 68 6 45.4 145.55 B
Poland 69 20 45.4 720.88 A
Malta 70 21 44.9 12.93 A
New Zealand 71 12 44.6 112.74 A
Sierra Leone 72 19 44.0 10.28 D
Armenia 73 22 43.3 23.80 B
Mexico 74 15 42.8 1391.69 B
Yemen, Rep. 75 7 42.5 24.95 D
Ecuador 76 16 42.3 118.11 C
Kenya 77 20 42.2 170.48 C
Norway 78 23 41.6 170.94 A
Romania 79 24 41.5 302.41 A
Philippines 80 13 41.5 529.37 B
Kyrgyzstan 81 14 41.4 19.62 C
Serbia 82 25 40.7 77.23 B
Korea, Rep. 83 15 40.6 1137.09 A
Malawi 84 21 40.5 18.75 C
Congo, Rep. 85 22 40.0 16.24 D
Thailand 86 16 39.7 711.39 C
Switzerland 87 26 39.3 260.24 A
Burundi 88 23 39.3 6.12 D
Panama 89 17 38.5 73.75 C
Myanmar 90 17 37.7 135.29 D
Czech Republic 91 27 36.6 178.21 A
North Macedonia 92 28 36.6 18.26 B
Latvia 93 29 36.5 27.30 B
Zimbabwe 94 24 36.4 35.83 D
Lesotho 95 25 35.9 2.78 C
Ethiopia 96 26 35.8 148.54 C
Togo 97 27 35.5 11.71 D
Lithuania 98 30 35.4 46.85 B
Gabon 99 28 34.8 22.34 D
Benin 100 29 34.0 21.73 C
Ukraine 101 31 34.0 261.87 B
Tajikistan 102 18 33.9 17.70 C
Georgia 103 32 33.9 28.44 B
Papua New Guinea 104 19 33.6 18.22 D
Chad 105 30 33.6 14.35 D
Cote d'Ivoire 106 31 33.2 74.81 C
Sweden 107 33 32.8 206.08 A
Denmark 108 34 32.4 126.56 A
Uganda 109 32 32.1 53.95 C
Nicaragua 110 18 31.9 18.77 C
United Arab Emirates 111 8 31.8 245.22 A
Mauritania 112 33 31.8 13.39 D
Turkey 113 9 31.7 1105.46 B
Madagascar 114 34 31.4 22.38 D
Guyana 115 19 31.3 7.70 D
Indonesia 116 20 30.8 1391.98 B
Niger 117 35 30.7 15.87 D
Chile 118 20 30.4 180.66 A
Bangladesh 119 21 30.1 349.24 C
Honduras 120 21 30.0 27.59 D
Belarus 121 35 29.9 75.81 B
Vietnam 122 22 29.3 328.66 C
Uzbekistan 123 23 28.9 99.11 C
Nepal 124 24 28.7 53.72 D
Cameroon 125 36 28.0 47.49 D
Mali 126 37 28.0 24.19 D
Bosnia and Herzegovina 127 36 27.5 18.42 C
Liberia 128 38 27.4 3.88 D
Burkina Faso 129 39 27.2 24.38 C
Central African Republic 130 40 26.1 2.17 D
Eswatini 131 41 25.9 4.30 D
Paraguay 132 22 24.5 34.15 C
Guinea 133 42 23.8 14.37 D
Peru 134 23 23.6 150.91 C
Moldova 135 37 23.5 12.16 B
Luxembourg 136 38 22.8 19.00 A
Tanzania 137 43 22.6 65.29 C
Cambodia 138 25 22.5 27.77 D
Saudi Arabia 139 10 21.5 477.29 B
Guatemala 140 24 20.8 47.22 B
Taiwan 141 26 20.7 351.80 C
Nigeria 142 44 20.1 388.73 D
Kazakhstan 143 27 19.7 128.54 C
Azerbaijan 144 28 19.3 38.65 C
Bulgaria 145 39 18.7 38.59 A
Comoros 146 45 18.5 0.67 C
Estonia 147 40 14.7 9.15 B
Haiti 148 25 13.5 7.97 D
Botswana 149 46 13.1 8.27 D
Russia 150 41 12.5 692.53 C
Congo, Dem. Rep 151 47 6.8 13.02 D
Kuwait 152 11 6.4 16.96 C
Turkmenistan 153 29 6.4 11.41 D
Afghanistan 154 30 3.9 6.18 D
Hong Kong 155 31 1.9 9.65 A
Brunei Darussalam 156 32 1.2 0.48 D


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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Data Quality Grade definitions:
         A: As good as it gets;
         B: Use with caution;
         C: Unreliable for many purposes
         D: Extremely poor quality.