China, India, Pakistan…India is stuck between its two enemies in this list which is of…

India had a total debt of USD 3.057 trillion last year, which accounts for 3.2 percent of the global debt. This is higher than countries like Germany, Canada, Brazil, and Russia.

New Delhi: Despite being the world’s fifth-largest economy, Japan continues to struggle on several fronts. Once a strong challenger to the United States, the country is now burdened with massive debt. Recently, India surged ahead of Japan to become the fourth largest economy in the world. According to the reports and data available, Japan’s debt has touched 248 percent of its total GDP. It is important to note that Japan ranks first among Asian countries in terms of debt-to-GDP ratio. It is followed by Singapore. The debt of this small country is 175 percent of its GDP. Laos (118%) is third on this list.

China ranks fourth on the list. China, the second largest economy, debt has reached 93 percent of its economy. India’s debt is 82 percent of its GDP. After India comes Pakistan. Struggling with economic challenges for several years, Pakistan’s debt is 71 percent of its GDP. This means India is positioned between Pakistan and China on this list. Following Pakistan are Malaysia (68%), Thailand (66%), the Philippines (58%), South Korea (54%), Australia (49%), Indonesia (40%), Bangladesh (39%), Vietnam (33%), and Cambodia (26%).

Government debt as share of GDP:

• Japan: 248 percent
• Singapore: 175 percent
• Laos: 118 percent
• China: 93 percent
• India: 82 percent
• Pakistan: 71 percent
• Malaysia: 68 percent
• Thailand: 66 percent
• Philippines: 58 percent
• South Korea: 54 percent
• Australia: 49 percent
• Indonesia: 40 percent
• Bangladesh: 39 percent
• Vietnam: 33 percent
• Cambodia: 26 percent

Debt on the World

It is important to note that Sudan has the highest debt-to-GDP ratio. The country has debt amounting to 252 percent of its GDP. Debt levels across countries are rising steadily. As of December last year, the total global debt had reached $102 trillion. Many of the world’s major countries are running their economies by taking on debt.

India’s Situation

India’s position is bit better than other countries. According to the list, India ranks fifth on this list. As the world’s fifth-largest economy, India had a total debt of USD 3.057 trillion last year, which accounts for 3.2 percent of the global debt. This is higher than countries like Germany, Canada, Brazil, and Russia.