Government gross debt in Japan

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 204.4% 2027: 200.1% 2028: 197.7% 2029: 195.7% 2030: 193.9% 2031: 192.8%

113.5 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	113.5
Jan 1998	101.6
Jan 1997	91.3
Jan 1996	85.3
Jan 1995	80.7
Jan 1994	73.3
Jan 1993	63.2
Jan 1992	57.9
Jan 1991	54.1
Jan 1990	54.8

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Japan's government debt is the total payment obligations (liabilities) that the general government owes to its creditors. It is usually expressed in absolute terms and, above all, as a share of GDP to assess its sustainability.

How it's calculated

It is measured by adding up the liabilities of all levels of government (debt securities, loans and deposits), consolidated across subsectors, under national accounting standards. The debt-to-GDP ratio relates that stock to the size of the economy.

Market implications

Japan has one of the highest debt-to-GDP ratios in the world, though much of it is held domestically and by the Bank of Japan. Its level shapes fiscal and monetary policy and is a gauge watched by markets and rating agencies.

Limitations

The figure is low-frequency and is revised with the national accounts. The ratio to GDP depends both on the debt stock and on nominal GDP, so it can move without any change in borrowing; gross debt should be distinguished from net debt.