The 20 countries with the lowest national debt in 2019 in relation to gross domestic product
(GDP)
Countries with the lowest national debt 2019
The statistic shows the 20 countries with the lowest national debt in 2019 in relation to the gross domestic product (GDP). The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance. In 2019, Russia's estimated level of national debt reached about 16.49 percent of the GDP, ranking 10th of the countries with the lowest national debt.

National debt and GDP

The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts, however these countries should not retain newer debts in the process. Many economists believe that if a country is able to produce more without impairing its own economical growth, it can be considered more stable, particularly for the future. However, the listed countries, with the exception of Russia and Saudi Arabia, are not necessarily economic first-world powers. Additionally, economically powerful countries such as the United States and France maintain one of the highest debt-to-GDP ratios, signifying that occurring debt does not necessarily damage the state of the economy and is sometimes necessary in order to help develop it.

Saudi Arabia has maintained one of the lowest debt-to-GDP ratios due to its high export rates, which primarily consist of petroleum and petroleum goods. Given the significance of oil in today’s world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.
The 20 countries with the lowest national debt in 2019 in relation to gross domestic product
(GDP)
National debt in relation to GDP
Hong Kong SAR 0%
Macao SAR 0%
Brunei Darussalam 2.8%
Afghanistan 7.55%
Estonia 8.2%
Solomon Islands 10.91%
Botswana 12.31%
Democratic Republic of the Congo 13.49%
Kuwait 15.25%
Russia 16.49%
Zimbabwe 17.67%
Kosovo 18.18%
Micronesia 18.49%
Bulgaria 19.16%
Azerbaijan 19.71%
United Arab Emirates 20.14%
Kazakhstan 20.76%
Luxembourg 21.34%
Tuvalu 22.6%
Kiribati 22.62%
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Source

Release date

October 2019

Region

Worldwide

Survey time period

2019

Supplementary notes

According to the source, all values are estimates.

The values have been rounded to provide a better understanding of the statistic.

Countries with the lowest national debt 2019
The statistic shows the 20 countries with the lowest national debt in 2019 in relation to the gross domestic product (GDP). The data refer to the debts of the entire state, including the central government, the provinces, municipalities, local authorities and social insurance. In 2019, Russia's estimated level of national debt reached about 16.49 percent of the GDP, ranking 10th of the countries with the lowest national debt.

National debt and GDP

The debt-to-GDP ratio is an indicator of a country’s ability to produce and sell goods in order to pay back any present debts, however these countries should not retain newer debts in the process. Many economists believe that if a country is able to produce more without impairing its own economical growth, it can be considered more stable, particularly for the future. However, the listed countries, with the exception of Russia and Saudi Arabia, are not necessarily economic first-world powers. Additionally, economically powerful countries such as the United States and France maintain one of the highest debt-to-GDP ratios, signifying that occurring debt does not necessarily damage the state of the economy and is sometimes necessary in order to help develop it.

Saudi Arabia has maintained one of the lowest debt-to-GDP ratios due to its high export rates, which primarily consist of petroleum and petroleum goods. Given the significance of oil in today’s world, Saudi Arabia produces enough oil and earns enough revenue to maintain a high GDP and additionally refrain from incurring debt.
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