A country found itself in debt trap when the expenditure of a country exceeds the revenue of that country year by year. After factual analysis we found that Japan is the most debt ridden country in the world followed by the Greece and Lebanon. Japan has debt of 229% of its GDP.
It should be noted that while a country may have a relatively large external debt (either in absolute or per capita terms), it could be a "Net International Creditor" if its external debt is less than the total of the external debt of other countries held by it. For example, Norway, Hong Kong, Switzerland, Japan among others are net international creditors.
Below we have given the data related to the five most debt burdened countries of the world:-
1. Japan:
Size of the Economy: $ 4123 billion
Total Debt: 229% of the GDP
Maximum Debt: $5957 billion
Minimum Debt: $44 billion
Since: Dec. 2015 till date
Image source:www.operationworld.org
2. Greece:
Size of the Economy: 328341 EUR million
Total Debt: 176% of the GDP
Maximum Debt: $ 354 billion
Minimum Debt: $ 4.45 billion
Since: Dec. 2015 till date
Image source:www.hotels-europe.com
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3.Lebanon :
Size of the Economy: 95170 LPB billion
Total Debt: 139% of the GDP
Maximum Debt: $ 47.1billion
Minimum Debt: $ 2.72 billion
Since: Dec. 2015 till date
Image source:www.lebanon.polypropylenepump.com
4. Jamaica:
Size of the Economy: $ 14 billion
Total Debt: 132.72 % of the GDP
Maximum Debt: $14.75 billion
Minimum Debt: $ 0.7 billion
Since: Dec. 2015 till date
Image source:www.mapsopensource.com
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5. Italy:
Size of the Economy: 2248823 EUR million
Total Debt: 132.70 % of the GDP
Maximum Debt: $ 2391 billion
Minimum Debt: $ 40.39 billion
Since: Dec. 2015 till date
Image source:www.enchantedlearning.com
Here is the list of the most debt ridden countries of the world in terms of: Debt % of GDP:
| S.N. | Country | Current Debt % of GDP | Highest debt (%) | Lowest debt (%) |
|---|---|---|---|---|
| 1. | Japan | 229.20 | 229 | 50.6 |
| 2. | Greece | 176.90 | 180 | 22.6 |
| 3. | Lebanon | 139.00 | 183 | 131 |
| 4. | Jamaica | 132.72 | 212 | 70.5 |
| 5. | Italy | 132.70 | 133 | 90.5 |
NOTE: The size of Indian Economy is 2074 billion dollar and its debt is 67.20% of GDP.
List of top 10 most debt ridden countries in terms of Total External Debt:
Source: indexmundi.com
NOTE: External Debt Meaning: The total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods, or services.
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