Canada Government Debt to GDP — 2026 Data & Trend
Canada's government debt was 64.13% in December 2024, up from 60.46% the previous year. A year earlier it stood at 60.46%.
Canada's government debt stands at 64.13% as of December 2024. The government debt currently sits at 64.13% (up from 60.46% in the prior year). Across the tracked window it has ranged between 39.16% and 78.04%, and is 3.68% higher than a year ago.
The trend
Among the 121 economies tracked on this platform, Canada ranks #43 on government debt by latest value. It rose from 60.46% in the previous year, and compares with a year-earlier 60.46%.
What's driving it
The debt ratio moves with budget deficits, growth, interest costs and the currency; faster nominal growth lowers it, while wide deficits push it up.
Recent readings
| Period | Government debt |
|---|---|
| Dec 2024 | 64.13% |
| Dec 2023 | 60.46% |
| Dec 2022 | 59.43% |
| Dec 2021 | 68.76% |
| Dec 2020 | 74.55% |
| Dec 2019 | 53.36% |
| Dec 2018 | 53.14% |
| Dec 2017 | 54.46% |
Data: The World Bank — World Development Indicators (CC BY 4.0) Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
How Much Government Debt Does Canada Have in 2026?
Canada's government debt was 64.13% in December 2024, up from 60.46% the previous year. A year earlier it stood at 60.46%.
Is the government debt rising or falling in Canada?
It rose in the latest reading — 64.13% in December 2024 versus 60.46% a year earlier. Year on year it is higher.
What is government debt?
It measures total public debt expressed as a share of gross domestic product (debt-to-GDP).