G7 Nations Are Among The Most Debt-Burdened 💰

What We’re Showing

This graphic shows the debt burden score of major world economies, based on analysis from Ray Dalio's Great Powers Index 2024.

Methodology

For the analysis, Dalio looked at metrics including the scale of a country's deficit, debt service costs relative to GDP, and credit ratings.

Figures are represented as z-scores, where a z-score of zero equals the average of the entire dataset.

Key Takeaways

• Driven by high government debt-to-GDP ratios, G7 nations have the worst debt conditions, with the U.S. and UK ranking in last place
• In China, local governments, which rely heavily on the property market sector for revenues, are contending with $5.6 trillion in debt
• Saudi Arabia tops the list, thanks to a public debt-to-GDP ratio of just 24% and high credit ratings