Key Highlights of World Debt in 2025

• Global public/government debt is around US$ 111 trillion in 2025, per the IMF’s World outlook 

• As a share of global GDP, that government debt corresponds to approximately 94.7%.

• The U.S. and China together hold more than half (51.8%) of this total public debt.

• Among countries, Japan has the highest debt-to-GDP ratio at 230%, followed by Sudan (222%) and Singapore (176%).

• Other major countries’ debt loads (2025):

  • United States: $38,270 bn (125% of GDP)

  • China: $18,681 bn (96.3% of GDP)

  • India: $3,358 bn (81.4% of GDP)

 What It Means

• While debt is very high globally, public debt isn’t as extreme today as during the peak pandemic years, according to Visual Capitalist’s analysis.

• That said, the burden is uneven. Some countries (like Japan) are extremely leveraged relative to their economic size, making them more vulnerable to debt-servicing risks.

• High debt-to-GDP ratios in several countries could limit fiscal flexibility, making it harder to respond to future crises.

• The sheer scale of debt—especially in major economies—means that interest payments could increasingly eat into government budgets, potentially squeezing public investment.