I ran across an interesting IMF dataset on the debts of central governments, which is timely considering the latest from Congress on our national debt.
In GDP terms, we have one of the highest national debts in the world, at 115% of our GDP (2021 data, could be higher by now). Japan has an astonishing 212% debt ratio. At the other end of the scale stands Norway with just 15.75%. Germany has a more manageable 46%. I'm uncertain that having a debt larger than the economy is sustainable.
Here's a short excerpt from the IMF's more complete table:
Country by country, national debt as a percentage of GDP
Canada | 55.55% |
Mexico | 40.67% |
Germany | 46.27% |
Italy | 146.55% |
United Kingdom | 102.97% |
Norway | 15.75% |
Japan | 221.32% |
India | 54.27% |
Australia | 43.95% |
United States | 115.28% |
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