An extremely interesting chart. As they blow up the world’s economy and fiat currencies, this debt won’t matter much, and people holding it are going to get wrecked. Consequently, they’ve pushed this out many years with low interest rates and the plandemic. And the US is about to create demand for their debt in the form of stablecoins backed by debt, which will be equally destroyed. One theory is that some stablecoin will be turned into the US central bank digital currency, or converted to one after the crash. So good to diversify into gold or preferably Bitcoin, with Bitcoin a better option as you can transact with it outside the normal TradFi system.
https://www.zerohedge.com/markets/visualizing-worlds-111-trillion-government-debt-one-giant-chart
By Tyler Durden
While global public debt is lower than pandemic highs in real terms, it remains stubbornly elevated at $111 trillion.
This graphic, via Visual Capitalist’s Dorothy Neufeld, shows world debt by country in 2025, based on data from the IMF’s latest World Economic Outlook.
A Closer Look at World Debt by Country
Below, we break down government debt around the world in 2025:
| Country | Share of Global Debt 2025 | Value of Debt (Billions USD) | General Government Gross Debt (Percent of GDP) |
|---|---|---|---|
| 🇺🇸 U.S. | 34.5% | $38,269.7 | 125.0% |
| 🇨🇳 China | 16.8% | $18,680.8 | 96.3% |
| 🇯🇵 Japan | 8.9% | $9,826.5 | 229.6% |
| 🇬🇧 UK | 3.7% | $4,093.4 | 103.4% |
| 🇫🇷 France | 3.5% | $3,916.2 | 116.5% |
| 🇮🇹 Italy | 3.1% | $3,479.8 | 136.8% |
| 🇮🇳 India | 3.0% | $3,357.9 | 81.4% |
| 🇩🇪 Germany | 2.9% | $3,228.7 | 64.4% |
| 🇨🇦 Canada | 2.3% | $2,601.0 | 113.9% |
| 🇧🇷 Brazil | 1.9% | $2,062.8 | 91.4% |
| 🇪🇸 Spain | 1.7% | $1,898.9 | 100.4% |
| 🇲🇽 Mexico | 1.0% | $1,097.2 | 58.9% |
| 🇸🇬 Singapore | 0.9% | $1,008.3 | 175.6% |
| 🇰🇷 South Korea | 0.9% | $992.5 | 53.4% |
| 🇦🇺 Australia | 0.8% | $933.0 | 51.0% |
| 🇧🇪 Belgium | 0.7% | $770.8 | 107.5% |
| 🇵🇱 Poland | 0.6% | $623.8 | 60.0% |
| 🇮🇩 Indonesia | 0.5% | $588.8 | 40.8% |
| 🇷🇺 Russia | 0.5% | $586.9 | 23.1% |
| 🇳🇱 Netherlands | 0.5% | $581.1 | 44.0% |
| 🇦🇷 Argentina | 0.5% | $538.5 | 78.8% |
| 🇦🇹 Austria | 0.4% | $464.5 | 82.0% |
| 🇮🇱 Israel | 0.4% | $422.6 | 69.2% |
| 🇬🇷 Greece | 0.4% | $413.7 | 146.7% |
| 🇹🇷 Türkiye | 0.3% | $380.4 | 24.3% |
| 🇸🇦 Saudi Arabia | 0.3% | $370.4 | 29.2% |
| 🇨🇭 Switzerland | 0.3% | $370.0 | 36.9% |
| 🇹🇭 Thailand | 0.3% | $362.5 | 64.9% |
| 🇲🇾 Malaysia | 0.3% | $331.3 | 70.4% |
| 🇿🇦 South Africa | 0.3% | $329.6 | 77.3% |
| 🇵🇹 Portugal | 0.3% | $307.2 | 90.9% |
| 🇪🇬 Egypt | 0.3% | $303.9 | 87.0% |
| 🇵🇰 Pakistan | 0.3% | $293.9 | 71.6% |
| 🇵🇭 Philippines | 0.3% | $287.6 | 58.2% |
| 🇫🇮 Finland | 0.2% | $273.2 | 86.8% |
| 🇷🇴 Romania | 0.2% | $258.6 | 61.2% |
| 🇨🇴 Colombia | 0.2% | $258.1 | 58.9% |
| 🇮🇪 Ireland | 0.2% | $233.9 | 33.0% |
| 🇺🇦 Ukraine | 0.2% | $227.7 | 108.6% |
| 🇸🇪 Sweden | 0.2% | $226.5 | 34.2% |
| 🇳🇴 Norway | 0.2% | $220.8 | 42.7% |
| 🇹🇼 Taiwan | 0.2% | $206.9 | 23.4% |
| 🇦🇪 UAE | 0.2% | $193.5 | 34.0% |
| 🇧🇩 Bangladesh | 0.2% | $191.4 | 40.3% |
| 🇭🇺 Hungary | 0.2% | $185.3 | 74.8% |
| 🇨🇿 Czech Republic | 0.2% | $168.7 | 44.0% |
| 🇩🇿 Algeria | 0.1% | $155.5 | 54.0% |
| 🇻🇳 Vietnam | 0.1% | $155.1 | 32.0% |
| 🇨🇱 Chile | 0.1% | $148.2 | 42.7% |
| 🇮🇶 Iraq | 0.1% | $141.0 | 53.1% |
| 🇳🇿 New Zealand | 0.1% | $139.9 | 53.2% |
| 🇩🇰 Denmark | 0.1% | $136.0 | 29.6% |
| 🇻🇪 Venezuela | 0.1% | $136.0 | 164.3% |
| 🇮🇷 Iran | 0.1% | $126.9 | 35.6% |
| 🇲🇦 Morocco | 0.1% | $120.7 | 67.2% |
| 🇳🇬 Nigeria | 0.1% | $103.7 | 36.4% |
| 🇵🇪 Peru | 0.1% | $102.2 | 32.1% |
| 🇱🇰 Sri Lanka | 0.1% | $99.8 | 100.8% |
| 🇰🇪 Kenya | 0.1% | $92.5 | 68.0% |
| 🇸🇰 Slovak Republic | 0.1% | $92.1 | 59.6% |
| 🇶🇦 Qatar | 0.1% | $90.2 | 40.6% |
| 🇸🇩 Sudan | 0.1% | $79.5 | 221.5% |
| 🇩🇴 Dominican Republic | 0.1% | $77.8 | 60.0% |
| 🇰🇿 Kazakhstan | 0.1% | $74.4 | 24.8% |
| 🇦🇴 Angola | 0.1% | $71.9 | 62.4% |
| 🇪🇨 Ecuador | 0.1% | $70.2 | 53.8% |
| 🇧🇭 Bahrain | 0.1% | $67.5 | 142.5% |
| 🇬🇭 Ghana | 0.1% | $66.2 | 59.1% |
| 🇨🇷 Costa Rica | 0.1% | $61.3 | 59.7% |
| 🇭🇷 Croatia | 0.1% | $59.2 | 57.0% |
| 🇺🇾 Uruguay | 0.1% | $56.6 | 66.6% |
| 🇨🇮 Côte d’Ivoire | 0.05% | $55.2 | 55.6% |
| 🇵🇦 Panama | 0.05% | $53.9 | 59.6% |
| 🇧🇴 Bolivia | 0.05% | $53.5 | 93.7% |
| 🇸🇮 Slovenia | 0.05% | $52.8 | 66.6% |
| 🇪🇹 Ethiopia | 0.05% | $51.1 | 46.7% |
| 🇯🇴 Jordan | 0.05% | $50.4 | 89.7% |
| 🇭🇰 Hong Kong SAR | 0.05% | $50.1 | 11.7% |
| 🇹🇳 Tunisia | 0.04% | $47.6 | 80.6% |
| 🇱🇧 Lebanon | 0.04% | $46.3 | 163.8% |
| 🇸🇳 Senegal | 0.04% | $45.3 | 122.9% |
| 🇷🇸 Serbia | 0.04% | $43.9 | 43.9% |
| 🇹🇿 Tanzania | 0.04% | $43.4 | 49.6% |
| 🇺🇿 Uzbekistan | 0.04% | $42.8 | 31.1% |
| 🇱🇹 Lithuania | 0.04% | $39.8 | 41.8% |
| 🇲🇲 Myanmar | 0.03% | $38.5 | 63.5% |
| 🇴🇲 Oman | 0.03% | $36.9 | 35.1% |
| 🇧🇬 Bulgaria | 0.03% | $36.3 | 28.4% |
| 🇺🇬 Uganda | 0.03% | $34.1 | 52.4% |
| 🇿🇲 Zambia | 0.03% | $33.7 | 114.9% |
| 🇬🇹 Guatemala | 0.03% | $32.6 | 27.0% |
| 🇲🇿 Mozambique | 0.03% | $32.4 | 131.1% |
| 🇸🇻 El Salvador | 0.03% | $32.1 | 87.6% |
| 🇧🇾 Belarus | 0.03% | $30.7 | 35.8% |
| 🇱🇺 Luxembourg | 0.02% | $27.3 | 27.1% |
| 🇿🇼 Zimbabwe | 0.02% | $24.0 | 45.0% |
| 🇨🇾 Cyprus | 0.02% | $23.0 | 57.7% |
| 🇨🇲 Cameroon | 0.02% | $23.0 | 37.9% |
| 🇵🇷 Puerto Rico | 0.02% | $22.8 | 18.0% |
| 🇱🇻 Latvia | 0.02% | $22.6 | 47.1% |
| 🇳🇵 Nepal | 0.02% | $22.4 | 49.3% |
| 🇵🇾 Paraguay | 0.02% | $19.8 | 41.7% |
| 🇮🇸 Iceland | 0.02% | $18.2 | 47.4% |
| 🇭🇳 Honduras | 0.02% | $17.8 | 45.1% |
| 🇦🇿 Azerbaijan | 0.02% | $17.1 | 22.4% |
| 🇹🇹 Trinidad and Tobago | 0.02% | $17.0 | 65.3% |
| 🇵🇬 Papua New Guinea | 0.01% | $16.5 | 50.4% |
| 🇬🇦 Gabon | 0.01% | $16.3 | 76.2% |
| 🇦🇱 Albania | 0.01% | $16.2 | 54.1% |
| 🇨🇩 DRC | 0.01% | $15.7 | 19.1% |
| 🇱🇦 Lao P.D.R. | 0.01% | $15.4 | 90.7% |
| 🇦🇲 Armenia | 0.01% | $14.9 | 53.4% |
| 🇨🇬 Congo | 0.01% | $14.6 | 93.1% |
| 🇧🇫 Burkina Faso | 0.01% | $14.3 | 53.2% |
| 🇲🇺 Mauritius | 0.01% | $13.9 | 88.1% |
| 🇯🇲 Jamaica | 0.01% | $13.7 | 59.2% |
| 🇰🇭 Cambodia | 0.01% | $13.6 | 27.8% |
| 🇲🇹 Malta | 0.01% | $13.0 | 46.9% |
| 🇬🇪 Georgia | 0.01% | $12.8 | 34.2% |
| 🇲🇱 Mali | 0.01% | $12.5 | 48.9% |
| 🇾🇪 Yemen | 0.01% | $12.4 | 71.4% |
| 🇧🇯 Benin | 0.01% | $12.4 | 50.7% |
| 🇧🇸 Bahamas | 0.01% | $12.1 | 74.1% |
| 🇲🇼 Malawi | 0.01% | $12.0 | 80.4% |
| 🇲🇳 Mongolia | 0.01% | $11.7 | 46.6% |
| 🇬🇳 Guinea | 0.01% | $11.6 | 42.2% |
| 🇰🇼 Kuwait | 0.01% | $11.5 | 7.3% |
| 🇪🇪 Estonia | 0.01% | $11.4 | 24.4% |
| 🇷🇼 Rwanda | 0.01% | $10.8 | 73.2% |
| 🇧🇦 Bosnia and Herzegovina | 0.01% | $10.2 | 30.6% |
| 🇲🇻 Maldives | 0.01% | $10.1 | 131.8% |
| 🇲🇰 North Macedonia | 0.01% | $9.9 | 52.9% |
| 🇳🇪 Niger | 0.01% | $9.7 | 42.2% |
| 🇲🇬 Madagascar | 0.01% | $9.6 | 49.7% |
| 🇳🇦 Namibia | 0.01% | $9.3 | 63.6% |
| 🇵🇸 West Bank and Gaza | 0.01% | $9.0 | 65.6% |
| 🇳🇮 Nicaragua | 0.01% | $8.1 | 39.3% |
| 🇹🇬 Togo | 0.01% | $7.9 | 71.9% |
| 🇰🇬 Kyrgyz Republic | 0.01% | $7.6 | 37.8% |
| 🇧🇧 Barbados | 0.01% | $7.5 | 99.8% |
| 🇧🇼 Botswana | 0.01% | $7.4 | 38.8% |
| 🇲🇩 Moldova | 0.01% | $7.4 | 37.8% |
| 🇬🇾 Guyana | 0.01% | $7.3 | 29.0% |
| 🇹🇩 Chad | 0.01% | $6.8 | 31.5% |
| 🇲🇪 Montenegro | 0.01% | $5.7 | 60.8% |
| 🇬🇶 Equatorial Guinea | 0.004% | $4.9 | 36.6% |
| 🇲🇷 Mauritania | 0.004% | $4.9 | 41.2% |
| 🇫🇯 Fiji | 0.004% | $4.9 | 76.6% |
| 🇸🇷 Suriname | 0.004% | $4.0 | 89.1% |
| 🇹🇯 Tajikistan | 0.003% | $3.7 | 22.0% |
| 🇭🇹 Haiti | 0.003% | $3.6 | 11.8% |
| 🇧🇹 Bhutan | 0.003% | $3.6 | 105.6% |
| 🇸🇱 Sierra Leone | 0.003% | $3.6 | 41.2% |
| 🇸🇸 South Sudan | 0.003% | $3.3 | 66.0% |
| 🇨🇻 Cabo Verde | 0.003% | $3.1 | 106.0% |
| 🇦🇼 Aruba | 0.003% | $2.9 | 67.1% |
| 🇱🇷 Liberia | 0.003% | $2.9 | 55.7% |
| 🇧🇮 Burundi | 0.003% | $2.8 | 40.3% |
| 🇹🇲 Turkmenistan | 0.003% | $2.8 | 3.9% |
| 🇽🇰 Kosovo | 0.002% | $2.2 | 17.6% |
| 🇸🇿 Eswatini | 0.002% | $2.2 | 42.8% |
| 🇧🇿 Belize | 0.002% | $2.1 | 64.7% |
| 🇱🇨 Saint Lucia | 0.002% | $2.0 | 77.0% |
| 🇬🇼 Guinea-Bissau | 0.002% | $1.9 | 76.2% |
| 🇨🇫 Central African Republic | 0.002% | $1.9 | 57.1% |
| 🇬🇲 Gambia | 0.002% | $1.9 | 74.4% |
| 🇦🇬 Antigua and Barbuda | 0.001% | $1.5 | 65.7% |
| 🇩🇯 Djibouti | 0.001% | $1.4 | 30.5% |
| 🇸🇲 San Marino | 0.001% | $1.4 | 62.7% |
| 🇦🇩 Andorra | 0.001% | $1.4 | 31.7% |
| 🇱🇸 Lesotho | 0.001% | $1.4 | 57.1% |
| 🇸🇨 Seychelles | 0.001% | $1.3 | 56.7% |
| 🇻🇨 Saint Vincent and the Grenadines | 0.001% | $1.2 | 94.0% |
| 🇬🇩 Grenada | 0.001% | $1.0 | 67.7% |
| 🇩🇲 Dominica | 0.001% | $0.7 | 95.7% |
| 🇰🇳 Saint Kitts and Nevis | 0.001% | $0.7 | 61.9% |
| 🇻🇺 Vanuatu | 0.0005% | $0.5 | 48.6% |
| 🇸🇹 São Tomé and Príncipe | 0.0005% | $0.5 | 51.4% |
| 🇰🇲 Comoros | 0.0004% | $0.5 | 30.2% |
| 🇸🇧 Solomon Islands | 0.0004% | $0.5 | 23.7% |
| 🇧🇳 Brunei Darussalam | 0.0003% | $0.4 | 2.3% |
| 🇹🇱 Timor-Leste | 0.0003% | $0.3 | 13.9% |
| 🇼🇸 Samoa | 0.0002% | $0.3 | 20.9% |
| 🇵🇼 Palau | 0.0002% | $0.2 | 63.1% |
| 🇹🇴 Tonga | 0.0002% | $0.2 | 31.6% |
| 🇱🇮 Liechtenstein | 0.00004% | $0.047 | 0.5% |
| 🇫🇲 Micronesia | 0.00004% | $0.046 | 9.3% |
| 🇲🇭 Marshall Islands | 0.00003% | $0.032 | 10.6% |
| 🇰🇮 Kiribati | 0.00003% | $0.028 | 8.7% |
| 🇳🇷 Nauru | 0.00002% | $0.026 | 15.0% |
| 🇹🇻 Tuvalu | 0.000002% | $0.002 | 3.6% |
| 🇲🇴 Macao SAR | 0.0% | $0.000 | 0.0% |
| World | 100.0% | $110,955.6 | 94.7% |
America’s debt burden exceeds $38 trillion in 2025, standing at 125% of GDP.
Over the past five years, net interest payments on the national debt have nearly tripled. They are projected to double again by 2035 to reach $1.8 trillion per year.
With $18.7 trillion in debt, China ranks in second. In 2025, debt expanded by almost $2.2 trillion, driven by government stimulus and weaker land revenues given a struggling property market sector.
As we can see, Japan follows next with a $9.8 trillion debt pile, equal to 230% of GDP. Even though debt remains sky-high, the country’s new prime minister, Sanae Takaichi, is proposing $92.2 billion in stimulus spending and subsidies.
The UK and France round out the top largest debt burdens, both hovering near $4 trillion. France, in particular, has experienced significant political instability amid contentious budget cut proposals, cycling through five prime ministers over the past two years.
To learn more about this topic, check out this graphic on government debt to GDP around the world.