Nonfinancial corporation debt as a share of GDP in major economies 2022

The debt held by Chinese nonfinancial corporations as a share of GDP was the highest of any major economy in 2022 at 158 percent. This was almost twice that of the United States, whose corporations held debt which amounted to 78 percent of the country's GDP in the same year.

Total debt of nonfinancial corporations in major economies as a share of GDP from 2008 to 2022, by selected countries

Characteristic	United States	Euro area	Japan	United Kingdom	China	India*	Brazil	Russia
2022	77.7%	102.8%	118.6%	67.9%	158.2%	53.6%	52.9%	71.9%
2021	79.8%	108.4%	116.6%	76.5%	152%	53%	53%	77.6%
2020	84.3%	111.3%	115.9%	82.5%	161%	59.2%	54.2%	91.6%
2019	75.8%	102%	101.8%	71.3%	150.1%	54.5%	47%	77%
2018	75.7%	102.6%	98%	71.6%	149.1%	48.9%	46%	80.3%
2017	74.7%	105.8%	95.6%	76.2%	156.4%	53.6%	45.6%	83%
2016	72.7%	108.6%	95.6%	73.8%	159.5%	59%	47.5%	84%
2015	70.1%	109.1%	96.5%	77.4%	158.4%	50.3%	49.8%	87.9%
2014	68.3%	105.4%	99.4%	79.8%	145.8%	50.4%	44.7%	80.9%
2013	67%	102.2%	101%	86.8%	137.5%	52.2%	43.1%	65.2%
2012	66.5%	104.3%	102.6%	92.1%	127.6%	51.9%	41.9%	55.7%
2011	66.1%	102.9%	103.6%	90.4%	117%	50.4%	38.8%	52.1%
2010	66.8%	100.5%	102.3%	93.8%	117.8%	50.3%	36.1%	52.8%
2009	70.3%	100.6%	108.5%	97.2%	116.9%	47.3%	36.2%	59.6%
2008	72.5%	96.2%	105.5%	101.2%	93.9%	46.2%	35.7%	54.3%

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Release date

September 2023

More information

Region

Worldwide

Survey time period

2008 to 2022

Supplementary notes

Data are adjusted for breaks.
Values are calculated using core credit, which captures the outstanding amount of credit at the end of the end of each year. In terms of financial instruments, the values include the core debt, defined as loans, debt securities and currency & deposits.

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