Gross debt to GDP ratio in select largest economies worldwide 2001-2024
From 2001 to 2024, Japan’s debt-to-GDP ratio has remained the highest among major economies, being consistently above 200 percent since around 2010. Italy, the United States, and Canada also exhibit high ratios, with Italy nearing 150 percent by 2024. In contrast, Germany, Australia, and China maintain lower ratios, generally below 100 percent, indicating comparatively lower debt levels relative to economic output. A sharp increase in debt levels was visible around 2020 across most countries, reflecting economic challenges during that period.
