Countries with the lowest national debt 2022 | Statista (2024)

The statistic shows the 20 countries with the lowest national debt in 2022 in relation to the gross domestic product (GDP). The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance. In 2022, Russia's estimated level of national debt reached about 18.89 percent of the GDP, ranking 16th of the countries with the lowest national debt.

National debt and GDP

The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts, however these countries should not retain newer debts in the process. Many economists believe that if a country is able to produce more without impairing its own economical growth, it can be considered more stable, particularly for the future. However, the listed countries, with the exception of Russia and Saudi Arabia, are not necessarily economic first-world powers. Additionally, economically powerful countries such as the United States and France maintain one of the highest debt-to-GDP ratios, signifying that occurring debt does not necessarily damage the state of the economy and is sometimes necessary in order to help develop it.

Saudi Arabia has maintained one of the lowest debt-to-GDP ratios due to its high export rates, which primarily consist of petroleum and petroleum goods. Given the significance of oil in today’s world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.

Countries with the lowest national debt 2022 | Statista (2024)


Countries with the lowest national debt 2022 | Statista? ›

Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP.

What country has the lowest national debt? ›

Countries with the Lowest National Debt
  • Brunei. 3.2%
  • Afghanistan. 7.8%
  • Kuwait. 11.5%
  • Democratic Republic of Congo. 15.2%
  • Eswatini. 15.5%
  • Palestine. 16.4%
  • Russia. 17.8%

What country is #1 in debt? ›

Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP.

What country does the US owe the most money to? ›

As a result, totals from January 2023 are lower than reported. As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).

What is the top 10 countries national debt? ›

  • Canada. Debt-to-GDP ratio: 112.8% ...
  • Portugal. Debt-to-GDP ratio: 116.6% ...
  • France. Debt-to-GDP ratio: 137.7% ...
  • Spain. Debt-to-GDP ratio: 142.7% ...
  • United States. Debt-to-GDP ratio: 144.4% ...
  • Italy. Debt-to-GDP ratio: 172.5% ...
  • Greece. Debt-to-GDP ratio: 191.5% ...
  • Japan. Debt-to-GDP ratio: 256% Total debt: $10.1 trillion.
May 25, 2023

Why is Japan's debt not a problem? ›

Around 70% of Japanese government bonds are purchased by the Bank of Japan, and much of the remainder is purchased by Japanese banks and trust funds, which largely insulates the prices and yields of such bonds from the effects of the global bond market and reduces their sensitivity to credit rating changes.

Where does Canada rank in national debt? ›

Gross debt, according to the IMF, includes “all liabilities that require future payment of interest and/or principal by the debtor to the creditor” while general government includes all levels of government. Using this measure, Canada falls from 11th among 29 OECD countries when net debt is measured to 20th.

Which country has the worst debt? ›

At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023. *For the U.S. and Canada, gross debt levels were adjusted to exclude unfunded pension liabilities of government employees' defined-benefit pension plans.

Which country has the best economy? ›

The United States is the undisputed heavyweight when it comes to the economies of the world. America's gross domestic product in 2022 was more than 40% greater than that of China, the world No. 2. Even more striking, U.S. GDP was over five times that of the next two largest economies, Japan and Germany.

What countries owe the USA? ›

Debts and Debtors of the US Government
Country NameValue of Holdings (Billions of $)
31 more rows

Who does the US owe trillions to? ›

Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion.

Do any countries owe US money? ›

China owes the United States $1.3 trillion, which is the most debt out of all the countries that are its debtors. Japan was the primary debt holder until 2008, but now comes in second place, with $1.2 trillion. Other countries with outstanding U.S. debt include Russia, India and South Korea.

Will the US ever get out of debt? ›

Economists at the Penn Wharton Budget Model estimate that financial markets cannot sustain more than twenty additional years of deficits. At that point, they argue, no amount of tax increases or spending cuts would suffice to avert a devastating default.

Why is the US in so much debt? ›

One of the main culprits is consistently overspending. When the federal government spends more than its budget, it creates a deficit. In the fiscal year of 2023, it spent about $381 billion more than it collected in revenues. To pay that deficit, the government borrows money.

Which country borrows the most money from World Bank? ›

India takes the top spot. Its $39.7bn debt towards the WB recorded at the end of 2021 is double that of the next biggest debtor, Indonesia, with $19.6bn. Pakistan and Bangladesh follow with $18.3bn and $17.8bn, respectively, according to WB figures.

How many countries have zero national debt? ›

There is only one “debt-free” country as per the IMF database. For many countries, the unusually low national debt could be due to failing to report actual figures to the IMF.

Can the US get out of debt? ›

Under current policy, the United States has about 20 years for corrective action after which no amount of future tax increases or spending cuts could avoid the government defaulting on its debt whether explicitly or implicitly (i.e., debt monetization producing significant inflation).

Who owns US debt? ›

There are two kinds of national debt: intragovernmental and public. Intragovernmental is debt held by the Federal Reserve and Social Security and other government agencies. Public debt is held by the public: individual investors, institutions, foreign governments.

Is India a zero debt country? ›

India's external debt was US$570 billion at the end of March 2021. It recorded an increase of US$11.6 billion over its level at end of March 2020. The external debt to GDP ratio declined to 19.9 per cent at end-March 2022 from 21.2 per cent at end-March 2021.

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