Mexico vs Spain: Government debt

Government debt in 2025: 61.7% of GDP in Mexico and 100.5% of GDP in Spain, by IMF estimates. In 2025 the value was higher in Spain, by 38.8 percentage points, or 1.63 times that in Mexico.

Watch it change on the map

% of GDP · IMF

MexicoSpainIMF projection (World Economic Outlook, October 2026)

What the numbers say

Spain has been higher since 2009, when it overtook Mexico.
In 2025, Mexico ranked 52 and Spain ranked 14 of 149 countries, counting from the highest.
The IMF projection (World Economic Outlook, October 2026) puts Mexico at 64.5% of GDP and Spain at 89.4% of GDP in 2031.

Every year

% of GDP · IMF

Year	Mexico	Spain
2025	61.7	100.5
2024	59	101.4
2023	52.7	105.2
2022	53.8	109.2
2021	56.7	115.6
2020	58.5	119.2
2019	51.9	97.6
2018	52.2	99.7
2017	52.5	101.1
2016	55	102
2015	51	102.4
2014	47.1	104.4
2013	44.1	100
2012	40.8	89.6
2011	41.2	69.5
2010	40.2	60.3
2009	41.7	53.1
2008	40.6	39.6
2007	35.5	35.7
2006	35.8	39
2005	36.8	42.4
2004	38.9	45.3
2003	42.1	47.7
2002	39.9	51.2
2001	37.3	54.1
2000	38.5	57.8
1999	41.7	60.9
1998	39.7	62.4
1997	39.1	64.3
1996	42.5	65.4
1995	–	61.6
1994	–	57
1993	–	54.6
1992	–	44.1
1991	–	41.9
1990	–	41.3
1989	–	39.9
1988	–	38.5
1987	–	41.9
1986	–	42.1
1985	–	40.9
1984	–	36
1983	–	29.5
1982	–	24.4
1981	–	19.5
1980	–	16.1

IMF projection (World Economic Outlook, October 2026) · 2026–2031

Year	Mexico	Spain
2026	62.1	97.6
2027	62.9	95.2
2028	63.4	93.2
2029	64	92
2030	64.3	90.7
2031	64.5	89.4

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

Mexico vs Spain: Government debt

What the numbers say

Every year

Each country on its own

Good to know

Mexico vs Spain

Health

People

Economy

Education

Politics

Conflict

Military

Climate

Technology and environment