Japan has Highest National Debt per Citizen with $89,000, according to New Report
Data gathered and calculated by Learnbonds.com indicates that Japan has the highest national debt per person. With a population of 126,847,639, each Japanese national owes 89,525.51 of the $11.4 trillion national debt.
High National Debt per Person
Compared to the United States, Japan’s national debt per citizen is more by $19,345 representing a difference of 24%. Globally, the US has the highest national debt at $23.2 trillion with a population of 330,315,550.
China emerges as the only country with a significant lower national debt when ranked against other leading economies. China’s $5,866 national debt per person is over 15 times lower than in Japan and over 11 times lower than the US. China has a population of about 1.4 billion with a national debt of $8.4 trillion.
Other heavily indebted countries include Belgium ($50,462), the United Kingdom ($49,211), Italy ($47,147), and Canada ($46,035).
Justinas Baltrusaitis, LearnBonds.com editor noted,
“An overview of the national debt shows that many states are surviving on borrowed money. Borrowing enables governments to cover budget shortfalls without raising taxes or cutting back public spending.”
On the lower side, Nigeria and Indonesia are among the least indebted countries with each citizen owing $707 and $1,283 respectively