Friday, September 29, 2023

Based on U.N. data, research highlights that Singapore, the United States, and Japan have the highest levels of public debt per citizen globally. In comparison to the debt burden of an American, a Chinese citizen carries approximately a tenth of the debt, as indicated by the study.

U.S. Second in Global Ranking for Citizen Debt, China in Top 50

In terms of sovereign debt per capita, Singaporean citizens had the highest debt burden in 2022, as suggested by an analysis of United Nations data. According to the research conducted by the Russian RIA Novosti news agency, each Singaporean had a debt share of $117,400.

Coming in second was the U.S., with an average debt of $93,000 per American. This was after the country’s debt crossed the $32-trillion threshold for the first time in June, following an agreement between President Joe Biden’s administration and House Republicans to raise the debt ceiling in late May.

Japan ranked third with $88,400, followed by Canada at $58,900 and Belgium at $52,600. Other countries in the top 10 included Iceland ($51,200), Italy ($49,200), France ($47,100), Ireland ($47,100), and the United Kingdom ($46,600).

Several other developed nations were within the top 30, including Norway ($42,100), Australia ($36,500), Switzerland ($36,200), and Germany, the European Union’s economic powerhouse, with $32,600.

As per the U.N. figures, Russia took the 94th spot last year with a per-capita state debt of $2,980. However, according to Russia’s Ministry of Finance (Minfin) and the Federal State Statistics Service (Rosstat), the country’s debt per capita was around $2,200, as noted in the report.

Among the BRICS nations (Brazil, Russia, India, China, and South Africa), China had the highest public debt per capita, at $9,900, ranking it 47th worldwide. Brazil followed at 57th place with $7,700. South Africa was ranked 75th with a per capita public debt of $4,700, while India was at 112th with $2,000.

Members of the Eurasian Economic Union (EAEU) displayed relatively low debt per capita. Armenia was ranked 90th with a per capita debt of $3,200, followed closely by Belarus at 91st with $3,100. Kazakhstan and Kyrgyzstan ranked 99th and 139th, respectively, with per capita sovereign debts of $2,700 and $871.

We would love to hear your views on the public debt per capita data detailed in the report. Please share your thoughts in the comments section below.

Frequently Asked Questions (FAQs) about Public Debt per Capita

Which countries have the highest public debt per capita?

According to a study based on U.N. data, Singapore, the United States, and Japan lead the world in terms of public debt per capita.

Which country in the BRICS bloc has the highest public debt per capita?

The People’s Republic of China, among the BRICS countries (Brazil, Russia, India, China, and South Africa), has the highest public debt per capita.

Where does Russia rank in terms of public debt per capita?

In terms of public debt per capita, Russia ranked 94th according to U.N. data in 2022.

What are the top 10 countries with the highest public debt per capita?

Based on the research, the top 10 countries with the highest public debt per capita are: Singapore, the United States, Japan, Canada, Belgium, Iceland, Italy, France, Ireland, and the United Kingdom.

How much was the per capita debt for members of the Eurasian Economic Union (EAEU) in 2022?

In 2022, Armenia had a per capita debt of $3,200, ranking 90th. Belarus was 91st with $3,100, Kazakhstan ranked 99th with $2,700, and Kyrgyzstan was 139th with a per capita sovereign debt of $871.

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Alice Davis July 24, 2023 - 8:27 am

Russia’s doing not bad at all in terms of debt…much better than i’d expectd.

John Smith July 24, 2023 - 9:19 am

Wow, never would’ve thought that Singapore has the highest debt per person! That’s insane man.

Maria Lopez July 24, 2023 - 2:52 pm

why is US always in debt, cant they control their spending?? somethings gotta change!

Richard Lee July 24, 2023 - 5:49 pm

Japan, 3rd place… we really need to get our finances in order… sigh

Peter Thompson July 24, 2023 - 6:25 pm

it’s interesting to see China leading in BRICS, considering they have such a massive population!

Sarah Johnson July 24, 2023 - 9:36 pm

So basically, every American is $93k in debt, thanks to the government. That’s not comforting at all 🙁

Nathan Harris July 25, 2023 - 3:21 am

Kyrgyzstan’s doing pretty well, only $871 per person, nice one!


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