Armenia vs Azerbaijan

Armenia vs Azerbaijan: Government debt

Government debt in 2025: 46.9% of GDP in Armenia and 20.1% of GDP in Azerbaijan, by IMF estimates. In 2025 the value was higher in Armenia, by 26.8 percentage points, or 2.33 times that in Azerbaijan.

ArmeniaAzerbaijan
Watch it change on the map

% of GDP · IMF

All yearsSince 2010
ValuesChange
LinearLog
Projection
Armenia vs Azerbaijan: Government debtGovernment debt in 2025: 46.9% of GDP in Armenia and 20.1% of GDP in Azerbaijan, by IMF estimates. In 2025 the value was higher in Armenia, by 26.8 percentage points, or 2.33 times that in Azerbaijan.
ArmeniaAzerbaijan

Latest figures

% of GDP · IMF

CountryLatest10 years beforeRank in 2025Projected
Armenia46.9 202545.587 of 14944.7 2031
Azerbaijan20.1 202518141 of 14916.7 2031

What the numbers say

  • Armenia has been higher in every year both have figures for since 1996.
  • In 2025, Armenia ranked 87 and Azerbaijan ranked 141 of 149 countries, counting from the highest.
  • The IMF projection (World Economic Outlook, October 2026) puts Armenia at 44.7% of GDP and Azerbaijan at 16.7% of GDP in 2031.

Every year

% of GDP · IMF

YearArmeniaAzerbaijan
202546.920.1
20244821.6
202348.521.8
202247.117.3
202160.926.4
202064.521.3
20195117.7
201852.418.7
201755.122.5
201653.320.6
201545.518
201440.88.5
201337.66.2
201235.95.8
201136.95
201034.95
200935.54.7
200815.23.2
200714.94
200616.95.3
200520.86.9
200426.59.7
20033310.7
200238.311.9
200138.113
200039.613.1
199939.225.4
199845.214.3
199746.511.4
199640.816.7
1995–19.2
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearArmeniaAzerbaijan
202648.116.5
202748.416.4
202848.616.5
202947.516.5
203046.116.6
203144.716.7

Each country on its own

Good to know

  • What the government owes, as a share of the economy’s yearly output.
  • Source: IMF, World Economic Outlook, October 2026.
  • The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
  • Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time