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Global debt percentage of GNP/GDP – the Top 20 – By Paul Toscano
Updated 30 Sept 2010, © 2011 CNBC.com — THE WORLD’S BIGGEST DEBTOR NATIONS

(click grey arrow at top of pictures on your screen — and be sure to see the link at bottom of this post to info that explains what all this means)

“Throughout the financial crisis, many national economies have looked to their government and foreign lenders for financial support, which translates to increased spending, borrowing and in most cases, growing national debt.

Deficit spending, government debt and private sector borrowing are the norm in most western countries, but due in part to the financial crisis, some nations and economies are in considerably worse debt positions than others.

External debt is a measure of a nation’s foreign liabilities, capital plus interest that the government and institutions within a nation’s borders must eventually pay. This number not only includes government debt, but also debt owed by corporations and individuals to entities outside their home country.

So, how does the US debt position compare to that of other countries? A useful measure of a country’s debt position is by comparing gross external debt to GDP [GNP]. By comparing a country’s debt to what it produces, this ratio can be used to help determine the likelihood that a country will be able to repay its debt.

This report takes a look at the world’s 75 largest economies to see which ones have the highest external debt to GDP [GNP] ratio, calculated using the most recent numbers from the World Bank. We’ve listed the top twenty here.

Since the first time this report was published in April 2009, the debt situations of many countries have become of increasingly influential in the markets. In many European nations, these debt levels have caused international organizations and bond investors to put pressure on governments to cut public debt through austerity measures and additional reductions in spending.

So, what are the world’s biggest in-debt nations?”

20^th – United States – 98.4%

External debt (as % of GDP): 98.4%
Gross external debt: $13.92 trillion
2009 GDP (est): $14.14 trillion
External debt per capita: $45,302

19^th – Hungary – 120.6%

External debt (as % of GDP): 120.6%
Gross external debt: $224.36 billion
2009 GDP (est): $186 billion
External debt per capita: $22,650

18^th – Australia – 121.9%

External debt (as % of GDP): 121.9%
Gross external debt: $1.037 trillion
2009 GDP (est): $851.1 billion
External debt per capita: $48,787

17^th – Italy – 141.3%

External debt (as % of GDP): 141.3%
Gross external debt: $2.456 trillion
2009 GDP (est): $1.74 trillion
External debt per capita: $42,267

16^th – Greece – 167.2%

External debt (as % of GDP): 167.2%
Gross external debt: $557.4 billion
2009 GDP (est): $333.4 billion
External debt per capita: $51,916

15^th – Germany – 176.8%

External debt (as % of GDP): 167.2%
Gross external debt: $557.4 billion
2009 GDP (est): $333.4 billion
External debt per capita: $51,916

14^th – Spain – 176.9%

External debt (as % of GDP): 176.9%
Gross external debt: $2.40 trillion
2009 GDP (est): $1.36 trillion
External debt per capita: $59,459

13^th – Norway – 208.8%

External debt (as % of GDP): 176.9%
Gross external debt: $2.40 trillion
2009 GDP (est): $1.36 trillion
External debt per capita: $59,459

12^th – Finland – 215%

External debt (as % of GDP): 215%
Gross external debt: $383.7 billion
2009 GDP (est): $178.8 billion
External debt per capita: $73,082

11^th – Hong Kong – 224.7%

External debt (as % of GDP): 224.7%
Gross external debt: $678.29 billion
2009 GDP (est): $301.8 billion
External debt per capita: $96,142

10^th – Portugal – 231.2%

External debt (as % of GDP): 231.2%
Gross external debt: $537.85 billion
2009 GDP (est): $232.6 billion
External debt per capita: $50,230

9^th – France – 244.3%

External debt (as % of GDP): 244.3%
Gross external debt: $5.23 trillion
2009 GDP (est): $2.09 trillion
External debt per capita: $79,982

8^th – Austria – 251.4%

External debt (as % of GDP): 251.4%
Gross external debt: $809.2 billion
2009 GDP (est): $321.8 billion
External debt per capita: $98,554

7^th – Sweden – 269.7%

External debt (as % of GDP): 269.7%
Gross external debt: $893.86 billion
2009 GDP (est): $331.4 billion
External debt per capita: $98,664

6^th – Denmark – 307.3%

External debt (as % of GDP): 307.3%
Gross external debt: $607.818 billion
2009 GDP (est): $197.8 billion
External debt per capita: $110,502

5^th – Belgium – 326.7%

External debt (as % of GDP): 326.7%
Gross external debt: $1.253 trillion
2009 GDP (est): $383.4 billion
External debt per capita: $120,267

4^th – Netherlands – 369.6%

External debt (as % of GDP): 369.6%
Gross external debt: $2.44 trillion
2009 GDP (est): $660 billion
External debt per capita: $145,928

3^rd – Switzerland – 378.6%

External debt (as % of GDP): 378.6%
Gross external debt: $1.191 trillion (2009 Q3)
2009 GDP (est): $314.7 billion
External debt per capita: $156,694

2^nd – United Kingdom – 428.8%

External debt (as % of GDP): 428.8%
Gross external debt: $9.12 trillion
2009 GDP (est): $2.128 trillion
External debt per capita: $149,281

1^st – Ireland – 1,305%

External debt (as % of GDP): 1,305%
Gross external debt: $2.25 trillion
2009 GDP (est): $172.5 billion
External debt per capita: $535,529

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SEE ALSO:  Countries Overloaded With Debt — By: Paul Toscano — © 2011 CNBC.com

And — Slideshow: Biggest Holders of US Gov’t Debt — By Paul Toscano
Updated 18 Jan 2011

Detailed information about the following can be found by clicking on the above title link:

1^st Federal Reserve and Intragovernmental Holdings — That’s right, the biggest holder of US government debt is actually within the United States. The Federal Reserve system of banks and other US intragovernmental holdings account for a stunning $5.351 trillion in US Treasury debt. This is the most recent number available (Sept 2010), and marks an all-time high.

2^nd Other Investors/Savings Bonds — With the most recent numbers from Sept 2010, this extremely diverse group includes individuals, government-sponsored enterprises, brokers and dealers, bank personal trusts, estates, savings bonds, corporate and non-corporate businesses for a total of $1.458 trillion;

3^rd China — The largest foreign holder of US Treasury securities, China currently holds $895.6 billion in American debt, although it is down from all time highs of $929 billion one year earlier in November 2009;

4^th Japan; 5^th Pension Funds; 6^th Mutual Funds; 7^th (Tied) United Kingdom and (Tied) State and Local Governments; 9^th Depository Institutions; 10^th Insurance Companies; 11^th Oil Exporters; 12^th Brazil; 13^th Caribbean Banking Centers; 14^th Hong Kong; 15^th Canada;

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