The 13 Most Indebted Countries in the World are all prime examples of the almost rudimental attribute that external debt has become for an economy. Having more and more money constantly flow through your country in a legal manner is healthy for the economy, given that you can pay back what you loan. Having a healthy flow of assets is one thing but being run over by heavy debts towards numerous foreign investors, be it banks or the 10 richest Arab countries in the world, is a whole another story.
Debt is a social quirk that has been observed throughout the history of mankind. Be it bartering before cultures and languages were still widespread or the invention of currency and its value, exchanging one thing for another and reaching a balance was always the way to go. But people figured out that they could take something and even out the other party’s losses later on, which made them be in debt to that party until the payback has occurred. This all probably happened long before any sort of country was established, let alone enough of them to form relations. However, once tribes grew into bigger groups and they grew into a mass of people under one leader, economic relations between such groups had to occur. Loaning and taking loans to other countries has been a way to form relations and keep economies afloat since the dawn of time. However, the inability to pay back such has been one of the reasons behind the fall of economies and sometimes the cause behind wars and the shed of more blood than it was ever worth.
For many countries, the national debt can be dated back to certain major events. For example, a big number of the countries that were obliged by contract to pay reparations post-World War II are still paying them. Other countries which received funding as a measure to combat post-war consequences and their utterly destroyed economies are still paying back. However, for both sides, once the scales have tipped, it takes a really big effort to get out of paying back debts because the type of economy countries have today strongly relies on relations that ultimately result in a negative balance for one of the involved parties.
In this list you can see ranking of countries by their estimated national debt in US dollars and their estimated debt divided per capita for each. However, this list is not solely based on the numbers so you can see certain places where numbers don’t work out as expected. This list takes in consideration figures such as more than one type of debts, the country’s GDP and its ability to pay back what they owe. Let’s take a look at the list now.
13. Belgium
External Debt Total: $1 286 918 000 000
External Debt Divided per Capita: $113 603
We start off the list with Belgium. The small European country takes the thirteenth place with not only having enough of its own but also buying a lot of US debt (of which there is more than enough for everyone).
12. Australia
External Debt Total: $1 395 638 000 000
External Debt Divided per Capita: $52 596
11. Ireland
External Debt Total: $239 672 886 310
External Debt Divided per Capita: $52 227
10. Spain
External Debt Total: $2 305 648 000 000
External Debt Divided per Capita: $52 045
9. Italy
External Debt Total: $2 651 413 000 000
External Debt Divided per Capita: $43 621
Italy’s public debt is spiraling out of control this quarter of the year with it reaching critical highs and being compared to that of Greece just a month ago. However, the country takes the 7th place on this list with its overall (public and private) ratings.
8. Luxembourg
External Debt Total: $3 472 282 000 000
External Debt Divided per Capita: $3 696 467
7. Netherlands
External Debt Total: $2 526 895 000 000
External Debt Divided per Capita: $226 503
6. Japan
External Debt Total: $2 861 488 000 000
External Debt Divided per Capita: $24 000
Japan’s sixth place is owed to its out-of-control debts which have grown to a concerning size, giving it this spot in out list of the 13 most indebted countries in the world.
5. China
External Debt Total: $3 000 000 000 000
External Debt Divided per Capita: $2 220
4. France
External Debt Total: $5 750 152 000 000
External Debt Divided per Capita: $86 317
3. Germany
External Debt Total: $5 546 869 000 000
External Debt Divided per Capita: $68 720
2. United Kingdom
External Debt Total: $9 590 995 000 000
External Debt Divided per Capita: $160 158
It is worth noting that the UK, while hugely in debt as any big economy, is heavily indebted, the country is also a huge money center through which a lot of funds come and go, which strongly affects its debt figures.
1. United States
External Debt Total: $18 540 448 667 000
External Debt Divided per Capita: $58 437
The worst one of the 13 most indebted countries in the world is, as expected by anyone with the slightest idea of world economics, the USA. The country has virtually existed with money it does not own or make for at least a century.
