Visualizing $97 Trillion Of Global Debt In 2023

Visualizing $97 Trillion Of Global Debt In 2023

Global government debt is projected to hit $97.1 trillion this year, a 40% increase since 2019.

During the COVID-19 pandemic, governments introduced sweeping financial measures to support the job market and prevent a wave of bankruptcies. However, this has exposed vulnerabilities as higher interest rates are amplifying borrowing costs.

In the graphic below, Visual Capitalist’s Niccolo Conte and Dorothy Neufeld show global debt by country in 2023, based on projections from the International Monetary Fund (IMF).

Debt by Country in 2023

Below, we rank countries by their general government gross debt, or the financial liabilities owed by each country:

Country Gross Debt (B) % of World Total Debt to GDP 🇺🇸 U.S. $33,228.9 34.2% 123.3% 🇨🇳 China $14,691.7 15.1% 83.0% 🇯🇵 Japan $10,797.2 11.1% 255.2% 🇬🇧 UK $3,468.7 3.6% 104.1% 🇫🇷 France $3,353.9 3.5% 110.0% 🇮🇹 Italy $3,141.4 3.2% 143.7% 🇮🇳 India $3,056.7 3.1% 81.9% 🇩🇪 Germany $2,919.3 3.0% 65.9% 🇨🇦 Canada $2,253.3 2.3% 106.4% 🇧🇷 Brazil $1,873.7 1.9% 88.1% 🇪🇸 Spain $1,697.5 1.7% 107.3% 🇲🇽 Mexico $954.6 1.0% 52.7% 🇰🇷 South Korea $928.1 1.0% 54.3% 🇦🇺 Australia $875.9 0.9% 51.9% 🇸🇬 Singapore $835.0 0.9% 167.9% 🇧🇪 Belgium $665.2 0.7% 106.0% 🇦🇷 Argentina $556.5 0.6% 89.5% 🇮🇩 Indonesia $552.8 0.6% 39.0% 🇳🇱 Netherlands $540.9 0.6% 49.5% 🇵🇱 Poland $419.4 0.4% 49.8% 🇬🇷 Greece $407.2 0.4% 168.0% 🇹🇷 Türkiye $397.2 0.4% 34.4% 🇷🇺 Russia $394.8 0.4% 21.2% 🇦🇹 Austria $393.6 0.4% 74.8% 🇪🇬 Egypt $369.3 0.4% 92.7% 🇨🇭 Switzerland $357.7 0.4% 39.5% 🇹🇭 Thailand $314.5 0.3% 61.4% 🇮🇱 Israel $303.6 0.3% 58.2% 🇵🇹 Portugal $299.4 0.3% 108.3% 🇲🇾 Malaysia $288.3 0.3% 66.9% 🇿🇦 South Africa $280.7 0.3% 73.7% 🇵🇰 Pakistan $260.9 0.3% 76.6% 🇸🇦 Saudi Arabia $257.7 0.3% 24.1% 🇮🇪

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