Japan vs Philippines

Japan vs Philippines: Government debt

Government debt: 213.6% of GDP in Japan in 2024 and 59.1% of GDP in Philippines in 2025, by IMF estimates. In 2024 the value was higher in Japan, by 157 percentage points, or 3.77 times that in Philippines.

% of GDP · IMF

Japan vs Philippines: Government debtGovernment debt: 213.6% of GDP in Japan in 2024 and 59.1% of GDP in Philippines in 2025, by IMF estimates. In 2024 the value was higher in Japan, by 157 percentage points, or 3.77 times that in Philippines.
JapanPhilippinesIMF projection (World Economic Outlook, October 2026)

What the numbers say

  • Japan has been higher since 1994, when it overtook Philippines.
  • The IMF projection (World Economic Outlook, October 2026) puts Japan at 188.9% of GDP and Philippines at 56.4% of GDP in 2031.

Every year

% of GDP · IMF

YearJapanPhilippines
2025204.859.1
2024213.656.6
2023220.156.5
202222857.4
2021222.657
2020228.851.6
2019206.337
2018203.737.2
2017203.138.1
2016202.137.4
2015200.139.7
2014203.640.3
2013201.243.9
2012197.145.7
2011190.645.4
2010178.647.6
2009172.949.8
2008153.650
2007150.450.2
2006152.157.2
2005153.464.7
2004148.871.1
2003140.271.4
2002134.665.2
2001126.859.5
2000118.559.2
1999113.554.2
1998101.650.8
199791.356.9
199685.353.1
199580.760.9
199473.363.6
199363.273.9
199257.9–
199154.1–
199054.8–
198956.9–
198862.4–
198765.8–
198664.2–
198559.2–
198456.9–
198355.1–
198250.1–
198145.8–
198041.4–
  • 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
YearJapanPhilippines
2026199.460.5
2027196.460.5
2028193.860.4
2029191.559.7
2030190.158.2
2031188.956.4

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

Japan vs Philippines

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