Canada vs United States

Canada vs United States: Government debt

Government debt in 2025: 113.6% of GDP in Canada and 124.4% of GDP in United States, by IMF estimates. In 2025 the value was higher in United States, by 10.8 percentage points, or 1.1 times that in Canada.

% of GDP · IMF

Canada vs United States: Government debtGovernment debt in 2025: 113.6% of GDP in Canada and 124.4% of GDP in United States, by IMF estimates. In 2025 the value was higher in United States, by 10.8 percentage points, or 1.1 times that in Canada.
CanadaUnited StatesIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • United States has been higher since 2008, when it overtook Canada.
  • In 2025, Canada ranked 8 and United States ranked 6 of 149 countries, counting from the highest.
  • The IMF projection (World Economic Outlook, October 2026) puts Canada at 107% of GDP and United States at 145% of GDP in 2031.

Every year

% of GDP · IMF

YearCanadaUnited States
2025113.6124.4
2024110122.3
2023105.1120
2022103.5119.2
2021112.6125
2020118.1132.6
201990.1108.8
201890.8107.7
201791106.5
201692.5107.5
201592.3105.5
201485.8105
201387.7105
201287103.7
201184.3100
20108495.7
200981.887.1
200870.473.9
200767.265
200669.964.6
200570.665.8
200471.966.4
200375.959
200279.655.9
200181.553.5
200080.4–
199989–
199893.3–
199795.3–
1996100.2–
1995100.1–
199497.5–
199394.7–
199288.2–
199181.7–
199073.7–
198971–
198869.8–
198769.8–
198669.3–
198565.2–
198460.2–
198357.2–
198251.7–
198146.1–
198044.6–
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearCanadaUnited States
2026115.6126.8
2027113.4128.7
2028111.8132.3
2029110.4136.4
2030108.8140.7
2031107145

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

Canada vs United States

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