Government Debt Across Major Economies

What We're Showing

The government debt-to-GDP ratio is a key indicator of a country's financial health. It provides insight into the government's capacity to manage its debt, shapes fiscal policy flexibility, and plays a crucial role in influencing investor confidence.

This graphic, created in partnership with the Hinrich Foundation, shows government debt as a percentage of GDP across 30 major economies, using data from the IMF’s World Economic Outlook.

The analysis comes from the 2024 Sustainable Trade Index (STI), which the Hinrich Foundation produced in collaboration with the IMD World Competitiveness Center.

Key Takeaways

• Government debt ratios can provide important context to understand a country’s ability to meet its financial obligations and sustain economic growth.
• A high government debt ratio can also affect investor confidence, undermine economic stability, constrict economic growth, and narrow the government’s access to fiscal policy tools. 
• Japan had the highest government debt ratio, at 252.4%, while Brunei's was the lowest (2.3%).