China vs South Korea: Government debt
Government debt: 98.6% of GDP in China in 2025 and 49.6% of GDP in South Korea in 2024, by IMF estimates. In 2024 the value was higher in China, by 40.9 percentage points, or 1.83 times that in South Korea.
ChinaSouth Korea
Watch it change on the map% of GDP · IMF · log scale
Latest figures
% of GDP · IMF
| Country | Latest | 10 years before | Rank in 2025 | Projected |
|---|---|---|---|---|
| China | 98.6 2025 | 40.9 | 17 of 149 | 122.1 2031 |
| South Korea | 49.6 2024 | 37.9 | — | 49.7 2031 |
What the numbers say
- China has been higher in every year both have figures for since 2012.
- The IMF projection (World Economic Outlook, October 2026) puts China at 122.1% of GDP and South Korea at 49.7% of GDP in 2031.
Every year
% of GDP · IMF
| Year | China | South Korea |
|---|---|---|
| 2025 | 98.6 | 52.4 |
| 2024 | 90.5 | 49.6 |
| 2023 | 84.1 | 50.6 |
| 2022 | 77.3 | 49.7 |
| 2021 | 72.1 | 48 |
| 2020 | 70.6 | 45.9 |
| 2019 | 59.9 | 39.7 |
| 2018 | 55.7 | 37.9 |
| 2017 | 53.7 | 38 |
| 2016 | 50 | 39.1 |
| 2015 | 40.9 | 38.8 |
| 2014 | 39.4 | 37.9 |
| 2013 | 36.6 | 36 |
| 2012 | 33.9 | 33.5 |
| 2011 | 33 | – |
| 2010 | 33.1 | – |
| 2009 | 33.9 | – |
| 2008 | 26.6 | – |
| 2007 | 28.8 | – |
| 2006 | 25.2 | – |
| 2005 | 26 | – |
| 2004 | 25.9 | – |
| 2003 | 26.4 | – |
| 2002 | 25.5 | – |
| 2001 | 24.2 | – |
| 2000 | 22.6 | – |
| 1999 | 21.6 | – |
| 1998 | 20.4 | – |
| 1997 | 20.4 | – |
| 1996 | 21.2 | – |
| 1995 | 21.4 | – |
- 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | China | South Korea |
|---|---|---|
| 2026 | 104.4 | 47.3 |
| 2027 | 109.1 | 46.2 |
| 2028 | 113.2 | 47 |
| 2029 | 116.4 | 48.2 |
| 2030 | 119.5 | 49.2 |
| 2031 | 122.1 | 49.7 |
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