Debt to GDP simply means the debt of a country to what the country actually has in monetary terms.
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| Government debt to GDP |
Some countries are actually huge monetarily, however, they owe more than they have.
According to investopedia.com:
The debt-to-GDP ratio is the metric comparing a country’s public debt to its gross domestic product (GDP). By comparing what a country owes with what it produces, the debt-to-GDP ratio reliably indicates that particular country’s ability to pay back its debts.
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.
Nigeria’s debt to its Gross Domestic Products stands at 38%.
Government debt to GDP as released by World of Statistics:
- Japan – 264%
- Greece – 171%
- Eritrea – 164%
- Italy – 145%
- United States (US) – 129%
- Bahrain – 120%
- Sri Lanka – 114%
- Spain – 113%
- France – 112%
- United Kingdom (UK) – 101%
- Jamaica – 86.2%
- Argentina – 85%
- Ukraine – 78.4%
- China – 76.9%
- Finland – 73%
- Brazil – 72.87%
- South Africa – 67.4%
- Kenya – 67.3%
- Germany – 66.3%
- Thailand – 60.96%
- Philippines – 60.9%
- Israel – 60.9%
- Malaysia – 60.4%
- Netherlands – 51%
- South Korea – 49.6%
- Qatar – 46.9%
- Nepal – 41.4%
- Indonesia – 40.9%
- Nigeria – 38%
- Norway – 37.4%
- Iraq – 36.7%
- New Zealand – 35.9%
- Iran – 34%
- Sweden – 33%
- Turkey – 31.7%
- Australia – 22.3%
- Estonia – 18.4%
- Kuwait – 7.1%
