Finland vs Norway: Government debt
Government debt in 2025: 88.4% of GDP in Finland and 54% of GDP in Norway, by IMF estimates. In 2025 the value was higher in Finland, by 34.4 percentage points, or 1.64 times that in Norway.
FinlandNorway
Watch it change on the mapLatest figures
% of GDP · IMF
| Country | Latest | 10 years before | Rank in 2025 | Projected |
|---|---|---|---|---|
| Finland | 88.4 2025 | 68.8 | 25 of 149 | 101.2 2031 |
| Norway | 54 2025 | 33.2 | 71 of 149 | 26 2031 |
What the numbers say
- Finland has been higher since 2010, when it overtook Norway.
- In 2025, Finland ranked 25 and Norway ranked 71 of 149 countries, counting from the highest.
- The IMF projection (World Economic Outlook, October 2026) puts Finland at 101.2% of GDP and Norway at 26% of GDP in 2031.
Every year
% of GDP · IMF
| Year | Finland | Norway |
|---|---|---|
| 2025 | 88.4 | 54 |
| 2024 | 82.5 | 52.8 |
| 2023 | 77.2 | 42.4 |
| 2022 | 74.1 | 34.8 |
| 2021 | 73.1 | 40.1 |
| 2020 | 75.3 | 44.3 |
| 2019 | 65.3 | 39 |
| 2018 | 65.3 | 38.1 |
| 2017 | 66.6 | 36.9 |
| 2016 | 68.7 | 36.7 |
| 2015 | 68.8 | 33.2 |
| 2014 | 64.8 | 28.8 |
| 2013 | 60.8 | 30.6 |
| 2012 | 57.9 | 30.2 |
| 2011 | 52 | 29 |
| 2010 | 50.1 | 42.1 |
| 2009 | 41.5 | 41.7 |
| 2008 | 32.6 | 46.8 |
| 2007 | 33.9 | 48.9 |
| 2006 | 38 | 52.2 |
| 2005 | 39.9 | 42.1 |
| 2004 | 42.6 | 43.8 |
| 2003 | 42.7 | 43.1 |
| 2002 | 40.1 | 34 |
| 2001 | 40.9 | 27.3 |
| 2000 | 42.5 | 28.8 |
| 1999 | 44 | 25.1 |
| 1998 | 46.8 | 23.8 |
| 1997 | 52.2 | 26 |
| 1996 | 55.4 | 28.6 |
| 1995 | 55.2 | 32.9 |
| 1994 | 56.2 | 51 |
| 1993 | 54.2 | 54 |
| 1992 | 39.3 | 45.3 |
| 1991 | 21.9 | 39.5 |
| 1990 | 13.9 | 29.1 |
| 1989 | 14.3 | 32.5 |
| 1988 | 16.5 | 32.6 |
| 1987 | 17.7 | 38.7 |
| 1986 | 16.4 | 46.2 |
| 1985 | 15.8 | 37 |
| 1984 | 15.2 | 35.3 |
| 1983 | 15.4 | 35.5 |
| 1982 | 13.9 | 38.6 |
| 1981 | 11.5 | 43.5 |
| 1980 | 10.9 | 47.9 |
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Finland | Norway |
|---|---|---|
| 2026 | 90.6 | 40 |
| 2027 | 92.1 | 40 |
| 2028 | 94.5 | 36.5 |
| 2029 | 97.1 | 33 |
| 2030 | 99.1 | 29.5 |
| 2031 | 101.2 | 26 |
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