Debt

Visualizing Government Debt-to-GDP Around the World

Published

2 weeks ago

April 29, 2025

Niccolo Conte

Article/Editing:

Govind Bhutada

Graphics/Design:

Sabrina Lam

See this visualization first on the Voronoi app.

Use This Visualization

Visualized: Government Debt-to-GDP Around the World

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In 2025, public debt remains a pressing issue for many countries, with governments around the world are navigating fiscal challenges in the wake of the pandemic, geopolitical instability, and economic slowdowns.

This infographic ranks countries by their debt-to-GDP ratio, a key metric used to assess how much debt a government holds relative to its economic output. The data comes from the IMF’s World Economic Outlook, April 2025 edition.

Countries With the Highest Debt-to-GDP Ratios

Advanced economies are generally grappling with higher debt burdens than others, with an average debt-to-GDP ratio of 110%, compared to around 74% for emerging and developing economies.

The table below highlights the debt-to-GDP ratios for 186 countries in 2025:

Rank	Country	General government gross debt (% of GDP)
#1	🇸🇩 Sudan	252%
#2	🇯🇵 Japan	235%
#3	🇸🇬 Singapore	175%
#4	🇬🇷 Greece	142%
#5	🇧🇭 Bahrain	141%
#6	🇲🇻 Maldives	141%
#7	🇮🇹 Italy	137%
#8	🇺🇸 United States	123%
#9	🇫🇷 France	116%
#10	🇨🇦 Canada	113%
#11	🇸🇳 Senegal	111%
#12	🇺🇦 Ukraine	110%
#13	🇨🇻 Cabo Verde	110%
#14	🇧🇪 Belgium	106%
#15	🇬🇧 United Kingdom	104%
#16	🇧🇹 Bhutan	103%
#17	🇲🇿 Mozambique	101%
#18	🇪🇸 Spain	101%
#19	🇩🇲 Dominica	98%
#20	🇧🇧 Barbados	98%
#21	🇨🇳 China, People's Republic of	96%
#22	🇻🇨 Saint Vincent and the Grenadines	94%
#23	🇯🇴 Jordan	93%
#24	🇧🇴 Bolivia	92%
#25	🇧🇷 Brazil	92%
#26	🇵🇹 Portugal	92%
#27	🇨🇬 Congo	91%
#28	🇱🇦 Lao P.D.R.	91%
#29	🇸🇻 El Salvador	88%
#30	🇪🇬 Egypt	87%
#31	🇸🇷 Suriname	87%
#32	🇫🇮 Finland	86%
#33	🇪🇺 European Union	84%
#34	🇲🇺 Mauritius	83%
#35	🇦🇹 Austria	83%
#36	🇹🇳 Tunisia	83%
#37	🇮🇳 India	80%
#38	🇿🇦 South Africa	80%
#39	🇧🇸 Bahamas, The	79%
#40	🇬🇼 Guinea-Bissau	79%
#41	🇬🇦 Gabon	79%
#42	🇫🇯 Fiji	78%
#43	🇷🇼 Rwanda	78%
#44	🇵🇰 Pakistan	74%
#45	🇱🇨 Saint Lucia	74%
#46	🇭🇺 Hungary	74%
#47	🇦🇷 Argentina	73%
#48	🇲🇼 Malawi	73%
#49	🇬🇩 Grenada	71%
#50	🇾🇪 Yemen	71%
#51	🇦🇼 Aruba	71%
#52	🇲🇾 Malaysia	70%
#53	🇹🇬 Togo	70%
#54	🇮🇱 Israel	69%
#55	🇲🇦 Morocco	69%
#56	🇺🇾 Uruguay	69%
#57	🇰🇪 Kenya	68%
#58	🇸🇮 Slovenia	68%
#59	🇹🇹 Trinidad and Tobago	68%
#60	🇬🇲 Gambia, The	68%
#61	🇬🇭 Ghana	66%
#62	🇩🇪 Germany	65%
#63	🇵🇼 Palau	65%
#64	🇯🇲 Jamaica	65%
#65	🇦🇴 Angola	65%
#66	🇹🇭 Thailand	65%
#67	🇸🇲 San Marino	64%
#68	🇳🇦 Namibia	64%
#69	🇦🇬 Antigua and Barbuda	63%
#70	🇸🇸 South Sudan	63%
#71	🇲🇲 Myanmar	63%
#72	🇷🇴 Romania	62%
#73	🇲🇽 Mexico	61%
#74	🇵🇱 Poland	61%
#75	🇨🇾 Cyprus	60%
#76	🇲🇪 Montenegro	60%
#77	🇰🇳 Saint Kitts and Nevis	60%
#78	🇸🇰 Slovak Republic	60%
#79	🇨🇴 Colombia	60%
#80	🇨🇷 Costa Rica	60%
#81	🇱🇸 Lesotho	60%
#82	🇧🇿 Belize	60%
#83	🇸🇨 Seychelles	59%
#84	🇿🇼 Zimbabwe	59%
#85	🇨🇫 Central African Republic	58%
#86	🇩🇴 Dominican Republic	58%
#87	🇨🇮 Côte d'Ivoire	58%
#88	🇵🇦 Panama	58%
#89	🇵🇭 Philippines	58%
#90	🇩🇿 Algeria	58%
#91	🇱🇷 Liberia	57%
#92	🇭🇷 Croatia	56%
#93	🇳🇿 New Zealand	55%
#94	🇦🇲 Armenia	55%
#95	🇰🇷 Korea, Republic of	55%
#96	🇦🇱 Albania	54%
#97	🇺🇬 Uganda	54%
#98	🇮🇸 Iceland	53%
#99	🇲🇰 North Macedonia	53%
#100	🇧🇯 Benin	53%
#101	🇳🇬 Nigeria	53%
#102	🇵🇬 Papua New Guinea	52%
#103	🇲🇱 Mali	52%
#104	🇲🇬 Madagascar	51%
#105	🇦🇺 Australia	51%
#106	🇧🇫 Burkina Faso	50%
#107	🇮🇶 Iraq	50%
#108	🇳🇵 Nepal	49%
#109	🇲🇹 Malta	49%
#110	🇻🇺 Vanuatu	49%
#111	🇱🇻 Latvia	48%
#112	🇹🇿 Tanzania	47%
#113	🇲🇷 Mauritania	46%
#114	🇷🇸 Serbia	44%
#115	🇸🇱 Sierra Leone	44%
#116	🇨🇿 Czech Republic	44%
#117	🇹🇴 Tonga	44%
#118	🇵🇾 Paraguay	44%
#119	🇳🇪 Niger	43%
#120	🇳🇱 Netherlands	43%
#121	🇧🇼 Botswana	43%
#122	🇨🇱 Chile	43%
#123	🇭🇳 Honduras	43%
#124	🇧🇾 Belarus	43%
#125	🇳🇴 Norway	43%
#126	🇲🇳 Mongolia	43%
#127	🇪🇹 Ethiopia	42%
#128	🇱🇹 Lithuania	42%
#129	🇮🇩 Indonesia	41%
#130	🇶🇦 Qatar	41%
#131	🇧🇩 Bangladesh	40%
#132	🇨🇲 Cameroon	40%
#133	🇮🇷 Iran	40%
#134	🇬🇳 Guinea	40%
#135	🇰🇬 Kyrgyz Republic	39%
#136	🇳🇮 Nicaragua	38%
#137	🇸🇿 Eswatini	38%
#138	🇸🇹 São Tomé and Príncipe	37%
#139	🇨🇭 Switzerland	37%
#140	🇮🇪 Ireland	37%
#141	🇲🇩 Moldova	36%
#142	🇬🇪 Georgia	36%
#143	🇴🇲 Oman	35%
#144	🇧🇮 Burundi	35%
#145	🇬🇶 Equatorial Guinea	35%
#146	🇸🇦 Saudi Arabia	35%
#147	🇹🇩 Chad	34%
#148	🇧🇦 Bosnia and Herzegovina	34%
#149	🇵🇪 Peru	34%
#150	🇸🇪 Sweden	34%
#151	🇻🇳 Vietnam	34%
#152	🇺🇿 Uzbekistan	33%
#153	🇦🇪 United Arab Emirates	33%
#154	🇰🇲 Comoros	33%
#155	🇦🇩 Andorra	32%
#156	🇩🇯 Djibouti	31%
#157	🇰🇭 Cambodia	29%
#158	🇹🇯 Tajikistan	28%
#159	🇧🇬 Bulgaria	28%
#160	🇬🇾 Guyana	28%
#161	🇬🇹 Guatemala	27%
#162	🇹🇷 Türkiye	27%
#163	🇩🇰 Denmark	27%
#164	🇱🇺 Luxembourg	26%
#165	🇪🇪 Estonia	25%
#166	🇰🇿 Kazakhstan	25%
#167	🇹🇼 Taiwan	24%
#168	🇸🇧 Solomon Islands	24%
#169	🇼🇸 Samoa	23%
#170	🇷🇺 Russian Federation	21%
#171	🇦🇿 Azerbaijan	21%
#172	🇵🇷 Puerto Rico	19%
#173	🇽🇰 Kosovo	19%
#174	🇨🇩 DRC	16%
#175	🇲🇭 Marshall Islands	15%
#176	🇳🇷 Nauru	15%
#177	🇹🇱 Timor-Leste	14%
#178	🇭🇹 Haiti	12%
#179	🇭🇰 Hong Kong SAR	12%
#180	🇫🇲 Micronesia	9%
#181	🇰🇮 Kiribati	9%
#182	🇰🇼 Kuwait	7%
#183	🇹🇲 Turkmenistan	5%
#184	🇹🇻 Tuvalu	3%
#185	🇧🇳 Brunei Darussalam	2%
#186	🇲🇴 Macao SAR	0%

Sudan tops the list with public debt at 252% of GDP, driven by prolonged conflict and severe economic challenges. The African country unseated Japan as the country with the highest debt-to-GDP ratio in 2023, the same year in which the Sudan civil war broke out.

Japan has the highest debt burden among developed countries at 235% of GDP, with persistent fiscal deficits and an aging population contributing to its rising debt. Along with Japan, Singapore (175%), Bahrain (141%), and Italy (137%) are among the most-indebted developed nations.

The U.S. also has a high debt-to-GDP ratio of 123%, reflecting years of deficit spending and large-scale stimulus policies in response to recent economic crises like the pandemic.

Meanwhile, Germany has the lowest debt burden among G7 nations at 65% of GDP, and this is projected to fall to 58% by 2029.

The Impact of High Debt Levels

High public debt levels are typically a result of various factors, including aggressive monetary policies, quantitative easing, slow or negative economic growth, and public spending needs.

Typically, debt-to-GDP ratios balloon following periods of recessions or economic shocks, such as the 2008 Financial Crisis and the COVID-19 pandemic, when governments use fiscal stimulus to improve economic health.

While debt can be helpful in dealing with economic downturns, persistent and excessive debt carries long-term risks. These include slower GDP growth, currency depreciation, and in extreme cases, sovereign defaults that require IMF-led bailouts.

However, some countries like Japan and the U.S. issue debt in their own currencies and have flexibility in managing debt loads by printing more money. Yet, even these countries face rising interest costs as debt levels increase.

Learn More on the Voronoi App

What does the global economic growth landscape look like in 2025? Find out in this infographic Changing GDP Growth Forecasts for 2025, on the Voronoi app.