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it in Purchasing Power Parity terms with added estimates for the size of the informal economy and adjustments for out-of-date GDP base year data.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 1 232.3% 14565.68 E
Lebanon 2 215.4% 185.44 E
Singapore 3 147.2% 1228.17 E
Sudan 4 137.9% 282.42 E
Greece 5 125.1% 612.33 E
United States 6 114.9% 30880.12 E
Italy 7 112.3% 4333.33 E
France 8 98.6% 4255.54 E
Libya 9 96.3% 176.18 E
United Kingdom 10 94.8% 3905.70 E
Canada 11 94.1% 2361.61 E
Bahrain 12 91.2% 111.40 E
Belgium 13 88.4% 802.51 E
Spain 14 87.5% 2465.69 E
Cabo Verde 15 85.3% 5.75 E
Sri Lanka 16 79.8% 334.15 E
Laos 17 79.3% 77.18 E
Portugal 18 78.5% 425.47 E
Jordan 19 70.9% 100.02 E
China 20 70.3% 29079.99 E
Bhutan 21 70.0% 13.37 E
Finland 22 69.7% 257.31 E
Austria 23 69.4% 444.36 E
Mauritius 24 67.2% 29.00 E
Ukraine 25 65.5% 588.33 E
Brazil 26 65.2% 3566.68 E
Suriname 27 63.2% 10.72 E
Egypt 28 62.5% 1899.52 E
Mozambique 29 61.4% 51.82 E
Bahamas, The 30 60.5% 12.28 E
Hungary 31 60.5% 295.23 E
Tunisia 32 60.3% 122.29 E
Argentina 33 59.8% 1028.89 D
Germany 34 57.3% 3327.16 D
Zambia 35 57.3% 76.17 D
El Salvador 36 57.0% 63.38 D
Israel 37 55.6% 320.73 D
Cyprus 38 55.5% 34.41 D
Slovenia 39 54.4% 70.00 D
Morocco 40 53.4% 243.85 D
Yemen, Rep. 41 53.3% 31.72 D
India 42 52.5% 11561.84 D
Ghana 43 51.6% 195.57 D
Slovak Republic 44 51.6% 128.48 D
Iceland 45 51.4% 15.16 D
Congo, Rep. 46 51.0% 37.89 D
Zimbabwe 47 50.9% 59.29 D
Malawi 48 50.8% 26.95 D
South Africa 49 50.2% 656.60 D
Bolivia 50 48.6% 105.70 D
Guinea-Bissau 51 48.6% 3.87 D
Pakistan 52 48.6% 989.84 D
Kenya 53 47.9% 241.26 D
Malaysia 54 47.9% 808.76 D
Costa Rica 55 47.8% 84.82 D
Rwanda 56 47.2% 31.76 D
Jamaica 57 46.5% 20.04 D
Korea, Rep. 58 46.1% 1520.52 D
Togo 59 45.9% 18.62 D
Croatia 60 45.8% 96.79 D
Australia 61 45.2% 790.04 C
Poland 62 45.0% 916.39 C
Uruguay 63 45.0% 68.07 D
Senegal 64 44.9% 60.15 D
Namibia 65 44.7% 20.59 D
Dominican Republic 66 44.3% 163.87 C
Thailand 67 44.1% 1006.86 C
Albania 68 43.8% 29.75 C
Netherlands 69 43.4% 596.80 C
New Zealand 70 43.0% 121.73 C
Romania 71 42.8% 419.87 C
Malta 72 41.8% 17.68 C
Burkina Faso 73 40.9% 38.37 C
Colombia 74 40.9% 543.76 C
North Macedonia 75 40.8% 23.68 C
Mexico 76 40.5% 1623.90 C
Trinidad and Tobago 77 40.1% 24.91 C
Burundi 78 39.9% 8.43 C
Algeria 79 39.6% 295.64 C
Philippines 80 39.6% 687.72 C
Lesotho 81 39.5% 3.75 C
Czechia 82 39.4% 236.79 C
Sierra Leone 83 38.6% 10.60 C
Armenia 84 38.1% 33.05 C
Gambia 85 37.7% 5.34 C
Ecuador 86 37.2% 138.91 C
Mongolia 87 37.2% 28.47 C
Angola 88 36.6% 191.04 C
Ireland 89 36.6% 252.56 C
Myanmar 90 36.2% 174.31 C
Kyrgyzstan 91 36.0% 21.99 C
Benin 92 35.8% 29.84 C
Panama 93 35.7% 89.75 B
Cote d'Ivoire 94 35.5% 123.53 C
Gabon 95 35.4% 36.34 C
Belarus 96 35.3% 128.15 B
Liberia 97 34.9% 5.28 B
Latvia 98 34.5% 31.23 B
Papua New Guinea 99 34.4% 23.58 B
Switzerland 100 34.2% 273.73 B
Chile 101 34.0% 242.51 B
Serbia 102 33.9% 82.93 B
Norway 103 32.8% 188.07 B
Uganda 104 32.4% 71.28 B
Madagascar 105 31.7% 30.10 B
Sweden 106 31.7% 246.23 B
Mauritania 107 31.2% 15.64 B
Niger 108 31.0% 23.96 B
Lithuania 109 29.7% 49.20 B
Qatar 110 29.7% 117.35 B
Central African Republic 111 29.2% 3.29 B
Bangladesh 112 29.0% 620.44 B
Mali 113 28.5% 32.59 B
Uzbekistan 114 28.2% 121.74 B
Paraguay 115 28.1% 48.21 B
Tanzania 116 28.1% 113.60 B
Oman 117 27.6% 66.78 B
Indonesia 118 27.4% 1617.56 B
Honduras 119 27.3% 32.15 B
Georgia 120 26.5% 34.69 B
Moldova 121 26.5% 14.99 B
Cameroon 122 26.3% 56.69 B
Comoros 123 26.1% 1.09 B
Nicaragua 124 25.6% 20.87 B
Luxembourg 125 25.4% 25.05 A
Nepal 126 25.4% 63.49 B
Denmark 127 25.3% 127.35 A
United Arab Emirates 128 25.1% 227.63 A
Nigeria 129 24.3% 612.04 A
Vietnam 130 23.6% 482.95 A
Türkiye 131 23.5% 935.26 A
Guyana 132 22.6% 30.32 A
Tajikistan 133 22.5% 15.38 A
Bosnia and Herzegovina 134 22.3% 19.45 A
Eswatini 135 21.6% 4.99 A
Peru 136 21.4% 173.57 A
Guinea 137 20.3% 20.46 A
Ethiopia 138 19.6% 115.77 A
Saudi Arabia 139 19.2% 521.76 A
Estonia 140 18.8% 13.10 A
Guatemala 141 18.5% 63.84 A
Kazakhstan 142 18.4% 177.11 A
Taiwan 143 18.4% 300.51 A
Bulgaria 144 18.3% 51.42 A
Chad 145 17.9% 10.77 A
Russia 146 15.1% 1251.86 A
Cambodia 147 14.9% 23.91 A
Azerbaijan 148 13.4% 40.84 A
Botswana 149 12.3% 8.55 A
Haiti 150 9.1% 4.95 A
Hong Kong 151 7.9% 45.20 A
Congo, Dem. Rep 152 5.7% 17.58 A
Kuwait 153 5.0% 15.05 A
Afghanistan 154 3.6% 6.37 A
Turkmenistan 155 3.5% 4.67 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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