Debt by country

Government debt around the world

In 2025, US government debt came to 123.9% of the economy, the 11th highest of 190 economies. For the world as a whole the figure was 93.9%, for the advanced economies 108.0%; the typical single economy stood at 52.5%.

World map of government debt

Choose a figure, then point at or tap a country. Small countries appear as dots. Every number is also in the table of all countries.

Government debt as a share of the economy

Choose a country

Lower
0.0%–30.3%
30.4%–45.1%
45.2%–59.9%
60.4%–80.6%
81.3%–308.7%
Higher
No data
United States

General government gross debt (all levels of government) as a percentage of GDP. IMF World Economic Outlook, April 2026, year 2025. 2025 values are IMF estimates for many economies.

The United States next to its peers

United States123.9%of GDP · $111,499 per person
Japan206.5%of GDP · $74,285 per person
Italy137.1%of GDP · $59,324 per person
France116.0%of GDP · $56,759 per person
United Kingdom102.3%of GDP · $58,933 per person
Canada113.5%of GDP · $63,292 per person
China99.2%of GDP · $13,856 per person
Germany62.9%of GDP · $38,016 per person

All 193 economies

Sorted by debt to GDP in 2025. Debt in dollars and per person are calculated from IMF GDP and population. Change is in percentage points of GDP since 2019.

Rank	Country	Debt to GDP	Debt (US$)	Per person	Since 2019
1	Venezuela	308.7%	$308 billion	$11,534	+102.7
2	Japan	206.5%	$9.16 trillion	$74,285	+0.2
3	Sudan	187.6%	$75 billion	$1,478	−28.9
4	Singapore	171.3%	$1.03 trillion	$170,220	+43.6
5	Bahrain	147.6%	$70 billion	$43,312	+50.5
6	Greece	145.7%	$409 billion	$39,400	−38.0
7	Lebanon	139.4%	$48 billion	$8,982	−32.5
8	Italy	137.1%	$3.50 trillion	$59,324	+3.2
9	Senegal	130.2%	$48 billion	$2,520	+48.7
10	Maldives	125.4%	$10 billion	$23,387	+48.2
11	United States	123.9%	$38.12 trillion	$111,499	+15.1
12	France	116.0%	$3.91 trillion	$56,759	+17.8
13	Canada	113.5%	$2.63 trillion	$63,292	+23.4
14	Saint Vincent and the Grenadines	113.4%	$1 billion	$12,014	+45.4
15	Ukraine	108.7%	$231 billion	$7,065	+58.2
16	Belgium	106.3%	$771 billion	$64,848	+8.7
17	Suriname	105.8%	$5 billion	$7,511	+21.8
18	Bhutan	103.6%	$4 billion	$4,550	+2.8
19	Dominica	102.6%	$763 million	$10,178	+4.8
20	Mozambique	102.5%	$23 billion	$639	+4.2
21	United Kingdom	102.3%	$4.10 trillion	$58,933	+17.4
22	Cabo Verde	101.0%	$3 billion	$6,054	−8.8
23	Spain	100.4%	$1.91 trillion	$38,443	+2.8
24	China	99.2%	$19.47 trillion	$13,856	+39.4
25	Republic of the Congo	96.8%	$15 billion	$2,327	+19.2
26	Barbados	94.2%	$8 billion	$25,863	−7.4
27	Brazil	93.3%	$2.13 trillion	$9,970	+6.2
28	Portugal	89.9%	$311 billion	$28,916	−26.2
29	Finland	89.3%	$283 billion	$50,420	+24.0
30	El Salvador	87.2%	$32 billion	$5,091	+9.3
31	Egypt	86.8%	$317 billion	$2,933	+6.7
32	Mauritius	86.5%	$14 billion	$11,222	+5.4
33	Zambia	86.0%	$25 billion	$1,133	−17.3
34	Bolivia	84.8%	$54 billion	$4,330	+35.9
35	Trinidad and Tobago	84.2%	$22 billion	$15,216	+21.3
36	India	84.1%	$3.29 trillion	$2,250	+7.4
37	Jordan	82.8%	$51 billion	$4,434	+13.4
38	Tunisia	81.3%	$47 billion	$3,791	+14.0
39	Lao P.D.R.	80.6%	$14 billion	$1,844	+11.5
40	Austria	80.5%	$467 billion	$50,843	+9.5
41	Argentina	80.3%	$547 billion	$11,527	−9.5
42	Gabon	78.9%	$17 billion	$7,399	+19.1
43	Fiji	78.7%	$5 billion	$5,123	+29.2
44	South Africa	78.6%	$336 billion	$5,321	+22.5
45	Malawi	78.4%	$12 billion	$490	+37.2
46	Saint Lucia	77.1%	$2 billion	$11,230	+15.0
47	Guinea-Bissau	75.3%	$2 billion	$988	+10.2
48	Hungary	75.2%	$186 billion	$19,421	+10.2
49	The Gambia	73.9%	$2 billion	$668	−9.1
50	The Bahamas	73.8%	$12 billion	$29,499	+13.5
51	Pakistan	72.8%	$297 billion	$1,234	−5.9
52	Grenada	71.6%	$1 billion	$8,765	+8.9
53	Malaysia	70.7%	$334 billion	$9,862	+13.6
54	Namibia	70.2%	$10 billion	$3,414	+12.6
55	Antigua and Barbuda	69.7%	$2 billion	$15,088	−11.9
56	Kenya	69.3%	$95 billion	$1,772	+10.2
57	Israel	68.5%	$418 billion	$41,330	+9.2
58	Belize	67.9%	$2 billion	$5,417	−10.7
59	Jamaica	67.7%	$15 billion	$5,487	−20.0
60	Montenegro	67.1%	$6 billion	$9,923	−12.5
61	Morocco	67.1%	$123 billion	$3,249	+6.8
62	Slovenia	65.9%	$52 billion	$24,617	−0.1
63	Uruguay	65.7%	$56 billion	$16,128	+6.1
64	Thailand	64.7%	$373 billion	$5,213	+23.6
65	Rwanda	64.6%	$10 billion	$729	+11.8
66	Aruba	63.6%	$3 billion	$26,379	−8.5
67	Togo	63.0%	$7 billion	$766	+8.1
68	Germany	62.9%	$3.18 trillion	$38,016	+4.2
69	Palau	62.3%	$215 million	$11,941	+31.8
70	South Sudan	62.1%	$4 billion	$292	+18.7
71	Central African Republic	61.8%	$2 billion	$358	+16.9
72	Mexico	61.8%	$1.13 trillion	$8,492	+9.9
73	Slovakia	61.6%	$95 billion	$17,556	+13.6
74	Romania	60.6%	$259 billion	$13,771	+23.8
75	San Marino	60.6%	$1 billion	$40,121	+4.4
76	Costa Rica	60.4%	$62 billion	$11,574	+4.3
77	Colombia	59.9%	$274 billion	$5,165	+8.9
78	Philippines	59.4%	$289 billion	$2,536	+22.4
79	Dominican Republic	59.0%	$75 billion	$6,932	+5.5
80	Poland	58.8%	$609 billion	$16,684	+13.6
81	Saint Kitts and Nevis	58.4%	$632 million	$12,152	+1.2
82	Benin	57.3%	$14 billion	$936	+16.9
83	Panama	56.6%	$51 billion	$11,214	+14.1
84	Côte d'Ivoire	56.3%	$56 billion	$1,692	+19.1
85	Iceland	56.1%	$22 billion	$55,643	−9.6
86	Croatia	55.9%	$59 billion	$15,303	−15.0
87	São Tomé and Príncipe	55.7%	$546 million	$2,277	−42.9
88	Cyprus	55.3%	$23 billion	$23,076	−37.0
89	Liberia	54.9%	$3 billion	$500	+6.8
90	New Zealand	54.7%	$142 billion	$26,593	+22.9
91	Ecuador	54.4%	$71 billion	$3,916	+2.3
92	Uganda	54.2%	$36 billion	$745	+16.2
93	Algeria	54.1%	$155 billion	$3,271	+13.2
94	Iraq	53.9%	$142 billion	$3,128	+12.2
95	Albania	52.6%	$16 billion	$5,910	−14.0
96	North Macedonia	52.5%	$10 billion	$5,537	+12.1
97	South Korea	52.3%	$979 billion	$18,947	+12.6
98	Papua New Guinea	52.1%	$17 billion	$1,322	+13.9
99	Burkina Faso	52.0%	$14 billion	$586	+10.3
100	Myanmar	51.9%	$43 billion	$780	+14.3
101	Seychelles	51.5%	$1 billion	$9,550	+2.6
102	Angola	51.3%	$73 billion	$1,854	−49.5
103	Australia	51.0%	$938 billion	$33,840	+4.5
104	Tanzania	49.7%	$43 billion	$642	+9.3
105	Lesotho	49.1%	$1 billion	$592	−9.1
106	Armenia	49.0%	$14 billion	$4,666	−4.7
107	Ghana	48.8%	$56 billion	$1,596	−14.1
108	Madagascar	48.7%	$10 billion	$303	+7.4
109	Guinea	48.1%	$13 billion	$828	+10.8
110	Nepal	48.1%	$22 billion	$727	+14.1
111	Latvia	46.9%	$23 billion	$12,246	+9.0
112	Malta	46.8%	$13 billion	$23,072	+7.6
113	Niger	45.4%	$10 billion	$340	+5.6
114	Sierra Leone	45.2%	$3 billion	$395	−0.1
115	Mongolia	45.1%	$11 billion	$3,192	−21.7
116	Norway	45.0%	$239 billion	$42,513	+6.0
117	Eswatini	44.9%	$2 billion	$1,994	+14.4
118	Czech Republic	44.6%	$174 billion	$15,912	+15.0
119	Zimbabwe	43.8%	$23 billion	$1,349	−10.1
120	Netherlands	43.3%	$577 billion	$31,970	−4.4
121	Ethiopia	43.1%	$47 billion	$425	−11.6
122	Serbia	42.4%	$42 billion	$6,480	−7.1
123	Bangladesh	42.0%	$192 billion	$1,107	+10.0
124	Mali	41.9%	$13 billion	$499	+7.6
125	Chile	41.8%	$149 billion	$7,413	+13.5
126	Qatar	41.4%	$92 billion	$28,847	−20.7
127	Burundi	41.2%	$3 billion	$197	−18.9
128	Honduras	41.2%	$16 billion	$1,486	−2.1
129	Indonesia	41.0%	$593 billion	$2,084	+10.4
130	Vanuatu	40.9%	$538 million	$1,612	+1.1
131	Equatorial Guinea	40.6%	$5 billion	$3,096	−2.6
132	Cameroon	40.4%	$24 billion	$802	−1.2
133	Mauritania	40.1%	$5 billion	$1,065	−17.6
134	Lithuania	39.8%	$38 billion	$13,068	+4.2
135	Switzerland	39.4%	$411 billion	$45,552	+0.6
136	Botswana	38.6%	$8 billion	$2,958	+17.1
137	Paraguay	38.1%	$19 billion	$2,931	+12.3
138	Iran	37.3%	$138 billion	$1,590	−7.3
139	Moldova	36.6%	$7 billion	$3,127	+7.8
140	Kyrgyzstan	36.0%	$8 billion	$1,074	−12.8
141	Oman	35.8%	$38 billion	$7,159	−16.7
142	Nigeria	35.5%	$103 billion	$434	+14.1
143	Sweden	34.9%	$233 billion	$21,870	−0.9
144	Nicaragua	34.8%	$8 billion	$1,161	−9.4
145	Georgia	34.3%	$13 billion	$3,548	−5.7
146	United Arab Emirates	34.3%	$196 billion	$17,230	+8.5
147	Belarus	33.1%	$31 billion	$3,379	−7.9
148	Ireland	32.9%	$236 billion	$42,981	−22.9
149	Djibouti	32.1%	$1 billion	$1,331	−9.0
150	Saudi Arabia	31.7%	$405 billion	$11,242	+11.4
151	Chad	30.4%	$7 billion	$354	−8.0
152	Andorra	30.3%	$1 billion	$15,290	−5.1
153	Vietnam	30.3%	$150 billion	$1,463	−10.7
154	Peru	30.2%	$103 billion	$2,993	+3.7
155	Bosnia and Herzegovina	29.9%	$10 billion	$2,861	−2.9
156	Comoros	29.5%	$475 million	$522	+7.1
157	Solomon Islands	28.7%	$489 million	$613	+20.9
158	Guyana	28.6%	$8 billion	$7,719	−5.6
159	Uzbekistan	28.6%	$42 billion	$1,100	+4.3
160	Denmark	27.5%	$127 billion	$21,187	−10.8
161	Tonga	27.4%	$186 million	$1,882	−14.4
162	Guatemala	27.2%	$33 billion	$1,765	+0.8
163	Bulgaria	27.1%	$36 billion	$5,669	+8.7
164	Luxembourg	27.0%	$27 billion	$40,025	+4.7
165	Cambodia	26.5%	$13 billion	$732	+5.3
166	Kazakhstan	24.6%	$74 billion	$3,654	+4.7
167	Estonia	24.2%	$11 billion	$8,309	+15.2
168	Türkiye	23.5%	$375 billion	$4,374	−7.7
169	Taiwan	22.4%	$206 billion	$8,845	−10.2
170	Tajikistan	21.6%	$4 billion	$366	−21.6
171	Samoa	21.2%	$273 million	$1,288	−23.1
172	DR Congo	20.2%	$19 billion	$176	+10.5
173	Azerbaijan	20.1%	$15 billion	$1,472	+2.4
174	Puerto Rico	18.0%	$23 billion	$7,173	−30.8
175	Kosovo	17.5%	$2 billion	$1,382	−0.2
176	Russia	17.2%	$445 billion	$3,091	+3.5
177	Kuwait	14.6%	$23 billion	$4,508	+4.1
178	Nauru	14.6%	$26 million	$2,141	−45.0
179	Timor-Leste	14.3%	$295 million	$209	+4.8
180	Haiti	12.3%	$4 billion	$314	−14.2
181	Hong Kong	11.9%	$51 billion	$6,770	+11.6
182	Marshall Islands	11.8%	$36 million	$1,010	−13.3
183	Micronesia	8.9%	$45 million	$470	−10.9
184	Afghanistan	8.0%	$2 billion	$36	+1.9
185	Kiribati	8.0%	$28 million	$216	−10.5
186	Turkmenistan	3.8%	$3 billion	$440	−13.9
187	Tuvalu	3.6%	$2 million	$209	−8.0
188	Brunei Darussalam	1.5%	$239 million	$520	−0.3
189	Liechtenstein	0.5%	$45 million	$1,096	−0.1
190	Macao	0.0%	$0.00	$0	±0.0
—	Libya	—	—	—	—
—	Somalia	—	—	—	—
—	Yemen	—	—	—	—

Source: International Monetary Fund, World Economic Outlook Database (April 2026), imf.org. 2025 values are IMF estimates for many economies. Debt in US dollars, debt per person and the change since 2019 are our calculations from IMF figures. We check every week whether the IMF has published a new edition and load the figures again when it has, last checked on September 19, 2026.

How to read these numbers

All levels of government. The IMF counts the gross debt of the whole general government: central, state and local governments and social security funds. That makes countries with very different structures comparable.

Why the US figure here differs from our debt clock. The US debt to GDP page uses the Treasury’s total public debt, which includes money one part of the federal government owes another, such as the Social Security trust funds, and leaves out state and local debt. The IMF uses international accounting rules and consolidates those internal holdings. The two ratios answer different questions, so both are right. The live US total, $40.09 trillion as of September 17, 2026, stays on the debt clock.

Gross debt, not net. Countries with large savings funds, such as Norway, owe money and hold assets at the same time. Gross debt leaves the assets out.

Dollars move with exchange rates. Debt in dollars and per person convert each country’s figures at market exchange rates. A weaker currency makes the dollar amount smaller even if nothing changed at home. The debt ratio does not have this problem.

Estimates. The IMF publishes this database twice a year, in April and October. For the latest year many values are still estimates and can change with the next edition.

For the United States state by state, see the national debt by state; for the US figure per person, see debt per person.

Common questions

Which country has the highest government debt to GDP?

Venezuela, at 308.7% of GDP in 2025, ahead of Japan (206.5%) and Sudan (187.6%). The figures cover general government gross debt in the IMF World Economic Outlook (April 2026).

Where do the United States rank in 2025?

11th highest of 190 economies, at 123.9% of GDP, or about $111,499 per person. That is above the world as a whole (93.9%) and above the typical single economy (52.5%), but below Japan at 206.5%.

Which countries have the least debt?

At the other end of the ranking: Macao (0.0%), Liechtenstein (0.5%) and Brunei Darussalam (1.5%). Low ratios often reflect an economy that borrows little, but also one that has defaulted in the past or has no developed bond market to borrow in.

Is a high debt ratio dangerous?

There is no threshold at which something happens. What matters is whether a government borrows in its own currency, who holds the debt, how long it is borrowed for and what the interest costs against economic growth. Japan has carried more than 200% of GDP for years at very low interest rates; other countries have run into trouble far below that. The ratio is a starting point for the question, not the answer.

Why does the US figure here differ from the debt clock?

The IMF consolidates debt that one part of government owes another, such as the Social Security trust funds, and counts state and local government too. The debt clock shows the Treasury's total public debt outstanding under US accounting. Both are correct; they answer different questions.

How often are these figures updated?

The IMF publishes the World Economic Outlook database twice a year, in April and October. This page checks every week whether a new edition is out and reloads the figures when it is, last checked on September 19, 2026. For the latest year many values are still IMF estimates.

Sources

Government debt, % of GDPInternational Monetary Fund, World Economic Outlook Database — General government gross debtApril 2026, year 2025
GDP in US dollarsInternational Monetary Fund, World Economic Outlook Database — GDP, current pricesApril 2026, year 2025
PopulationInternational Monetary Fund, World Economic Outlook Database — PopulationApril 2026, year 2025
Map outlinesNatural Earth via world-atlas

All figures are fetched from the publishers above when this site is built; your browser does not contact them. This site is independent and is not affiliated with, sponsored or endorsed by the Federal Reserve System, any Federal Reserve Bank or any government agency. Nothing here is financial advice.