Government Debt (% of GDP)
Central government debt as a percentage of GDP.
This page uses the latest available World Bank observation (2024). Country-level datasets often lag the current calendar year because they depend on official reporting and validation.
What is the global average Government Debt (% of GDP)?
The global average Government Debt (% of GDP) is 64.67 % of GDP as of 2024. Singapore has the highest at 175.61 % of GDP, while Somalia has the lowest at 12.66 % of GDP. Data covers 28 countries. Source: World Bank.
Top Countries
Regional Averages
Country Rankings
View full rankings| # | Country | Value |
|---|---|---|
| 1 | Singapore | 175.61 % of GDP |
| 2 | United Kingdom | 131.07 % of GDP |
| 3 | United States | 117.97 % of GDP |
| 4 | El Salvador | 105.8 % of GDP |
| 5 | Spain | 105.64 % of GDP |
| 6 | Hungary | 82.03 % of GDP |
| 7 | Brazil | 81.86 % of GDP |
| 8 | Mozambique | 71.79 % of GDP |
| 9 | Colombia | 71.48 % of GDP |
| 10 | Bahamas | 71.46 % of GDP |
| 11 | Uruguay | 66.4 % of GDP |
| 12 | Canada | 64.89 % of GDP |
| 13 | Malaysia | 64.57 % of GDP |
| 14 | Thailand | 62.2 % of GDP |
| 15 | Uganda | 54.43 % of GDP |
| 16 | New Zealand | 52.25 % of GDP |
| 17 | Albania | 49.96 % of GDP |
| 18 | Mexico | 49.57 % of GDP |
| 19 | Armenia | 47.88 % of GDP |
| 20 | Mongolia | 43.34 % of GDP |
| 21 | Kyrgyzstan | 40.23 % of GDP |
| 22 | Georgia | 40.1 % of GDP |
| 23 | Andorra | 40.03 % of GDP |
| 24 | Bosnia and Herzegovina | 39.91 % of GDP |
| 25 | Turkey | 26.62 % of GDP |
| 26 | Switzerland | 23.07 % of GDP |
| 27 | Russia | 17.95 % of GDP |
| 28 | Somalia | 12.66 % of GDP |
Definition
Government Debt (% of GDP) measures the total gross debt of the central government relative to the size of the national economy. This indicator represents the accumulated financial obligations of a country's primary governing body, expressing total outstanding debt as a proportion of the market value of all final goods and services produced within the country.
How it is calculated
This indicator is calculated by dividing the total nominal value of outstanding central government debt by the nominal Gross Domestic Product. Data is typically sourced from national treasury reports and central bank records, then standardized to ensure cross-country comparability. It specifically focuses on central government liabilities rather than total public sector or municipal debt.
Interpretation
High values indicate a large debt burden relative to economic output, which may signal potential difficulties in repayment or fiscal instability. Low values generally reflect a stronger fiscal position and greater capacity for future borrowing. While no universal threshold exists, levels exceeding 77 percent are often considered by economists as potentially detrimental to long-term economic growth.
Frequently Asked Questions
Government Debt (% of GDP) is a financial ratio that compares a country's central government debt to its total economic output. This metric helps analysts understand how easily a nation can repay its creditors by measuring total liabilities against the value of everything the country produces. It serves as a primary indicator of national fiscal health.
Sudan has recorded the highest Government Debt (% of GDP) at 865.87 percent, based on the latest data available across 109 countries. This extreme figure indicates a debt burden significantly larger than the nation's entire annual economic output. Such levels typically reflect severe fiscal distress or prolonged periods of significant economic instability.
The United Arab Emirates has the lowest Government Debt (% of GDP) among the 109 countries reported, with a ratio of 1.80 percent. This very low percentage suggests a highly stable fiscal position with minimal central government borrowing relative to the size of its economy. It indicates that the nation maintains vast resources to cover obligations.
The calculation involves dividing the total outstanding liabilities of the central government by the nominal Gross Domestic Product of the country. The resulting figure is then multiplied by 100 to express it as a percentage. This provides a standardized way to compare the debt burdens of different countries regardless of their currency or economic size.
About this data
- Source
- World Bank
GC.DOD.TOTL.GD.ZS - Definition
- Central government debt as a percentage of GDP.
- Coverage
- Data for 28 countries (2024)
- Limitations
- Data may lag 1-2 years for some countries. Coverage varies by indicator.