Which Country Has the Most Debt? Two Ways to Measure

If you mean the largest total amount of government debt, the United States is generally the no. 1 debt country in the world. That answer reflects the size of the U.S. economy as well as its borrowing, so it does not mean every American owes more than someone in another country.

There is no single debt ranking that answers every version of this question. A ranking based on total dollars can look very different from one based on debt relative to the size of a country’s economy.

Debt-to-GDP compares a government’s debt with the value of goods and services its economy produces in a year. Japan is often cited for having one of the highest government debt-to-GDP ratios among major economies, even though the United States has more debt in total dollars.

Before comparing countries, look at whether a figure covers central-government debt, all public debt, or both public and private borrowing. You should also note the year: debt totals and rankings change as governments borrow, repay debt, and revise economic estimates.

A national debt ranking cannot tell you whether a personal loan or debt-consolidation offer is affordable. For that decision, compare the annual percentage rate, fees, monthly payment, and total repayment amount, especially if you have bad credit and are considering a longer loan term.

Our Real-World Guide to Debt Consolidation Loans with Bad Credit is a printable digital eBook focused on that personal-finance decision. We recommend starting with your balances and budget, then weighing any offer against what you currently pay rather than assuming a lower monthly payment means a lower overall cost.