Countries With the Fastest Growth in Government debt share of GDP (5-Year Change)
Change in Government debt share of GDP over the five years to each country's latest year, in points (a share or rate is not shown as a % of itself). Only countries that rose are listed. Source: The World Bank (CC BY 4.0).
Summary
Palau rose the most: by 63.7 pts, from 21.5% of GDP to 85.2% of GDP in the five years to 2019. El Salvador is second (+53.4 pts), followed by Bahrain (+50.8 pts). 32 countries rose over that period; the median change among them was +15.2 pts.
- #1
- Palau · +63.7 pts
- Median
- +15.2 pts
- Coverage
- 32 countries
- Data year
- 2024
- Last updated
- 2026-11-14
Full ranking
| Rank | Country | From | To | 5-year change (points) |
|---|---|---|---|---|
| 1 | Palau | 21.5 | 85.2 | +63.7 pts |
| 2 | El Salvador | 53.9 | 107.3 | +53.4 pts |
| 3 | Bahrain | 60.8 | 111.6 | +50.8 pts |
| 4 | San Marino | 55.9 | 99.9 | +43.9 pts |
| 5 | Singapore | 127.9 | 167.8 | +40 pts |
| 6 | Bhutan | 81.1 | 111 | +30 pts |
| 7 | Zambia | 46.4 | 71.4 | +25 pts |
| 8 | Thailand | 38.6 | 61.9 | +23.2 pts |
| 9 | Malawi | 41.7 | 61.8 | +20.1 pts |
| 10 | New Zealand | 32.8 | 52 | +19.2 pts |
| 11 | Solomon Islands | 7.74 | 26 | +18.3 pts |
| 12 | South Africa | 64.6 | 82.8 | +18.2 pts |
| 13 | Burkina Faso | 47.1 | 64.2 | +17.1 pts |
| 14 | Uganda | 38.5 | 54.4 | +16 pts |
| 15 | United States | 100.2 | 115.8 | +15.6 pts |
| 16 | Eswatini | 20.5 | 35.7 | +15.2 pts |
| 17 | Uruguay | 50.1 | 65.3 | +15.2 pts |
| 18 | Bahamas, The | 56.7 | 71.5 | +14.8 pts |
| 19 | Malaysia | 52.4 | 64.6 | +12.1 pts |
| 20 | Moldova | 25.5 | 37.5 | +12 pts |
| 21 | Papua New Guinea | 40.2 | 52 | +11.9 pts |
| 22 | Peru | 23.7 | 35.2 | +11.5 pts |
| 23 | Canada | 53.4 | 64.1 | +10.8 pts |
| 24 | Korea, Rep. | 37.7 | 47.8 | +10.1 pts |
| 25 | Mexico | 41.3 | 50.3 | +8.94 pts |
| 26 | Belarus | 24.5 | 33.2 | +8.7 pts |
| 27 | Australia | 53.1 | 57.9 | +4.78 pts |
| 28 | Botswana | 15.2 | 19.7 | +4.51 pts |
| 29 | Ethiopia | 26.9 | 31.4 | +4.51 pts |
| 30 | Switzerland | 18.6 | 22.3 | +3.71 pts |
| 31 | Andorra | 38.8 | 40 | +1.15 pts |
| 32 | Russian Federation | 17.3 | 17.9 | +0.574 pts |
About the top 10
#1 Palau
Palau ranks #1 on this list with +63.7 pts.
- Capital
- Ngerulmud
- Continent
- Oceania
- Income group
- High income
- Population
- 17,663 people (2025)
- GDP
- US$345 million (2025)
- GDP per person
- US$19,532 (2025)
- Life expectancy
- 69.4 years (2024)
- Urban population
- 79.3% of population (2025)
Also ranks #1 in co2 emissions per capita · #2 in protected marine area share · #4 in forest area share.
#2 El Salvador
El Salvador ranks #2 on this list with +53.4 pts.
- Capital
- San Salvador
- Continent
- North America
- Income group
- Upper middle income
- Population
- 6.37 million people (2025)
- GDP
- US$36.71 billion (2025)
- GDP per person
- US$5,767 (2025)
- Life expectancy
- 72.3 years (2024)
- Urban population
- 75.5% of population (2025)
Also ranks #1 in debt service share of exports · #6 in government debt share of gdp · #14 in mobile subscriptions per 100.
#3 Bahrain
Bahrain ranks #3 on this list with +50.8 pts.
- Capital
- Manama
- Continent
- Asia
- Income group
- High income
- Population
- 1.6 million people (2025)
- GDP
- US$48.97 billion (2025)
- GDP per person
- US$30,597 (2025)
- Life expectancy
- 81.4 years (2024)
- Urban population
- 100% of population (2025)
Also ranks #1 in urban population share · #1 in immunisation (measles) rate · #2 in internet users share.
#4 San Marino
San Marino ranks #4 on this list with +43.9 pts.
- Capital
- San Marino
- Continent
- Europe
- Income group
- High income
- Population
- 34,109 people (2025)
- GDP
- US$2.03 billion (2023)
- GDP per person
- US$59,871 (2023)
- Life expectancy
- 85.8 years (2024)
- Urban population
- 97.2% of population (2025)
Also ranks #1 in bank branches per 100,000 adults · #2 in life expectancy · #2 in male life expectancy.
#5 Singapore
Singapore ranks #5 on this list with +40 pts.
- Capital
- Singapore
- Continent
- Asia
- Income group
- High income
- Population
- 6.11 million people (2025)
- GDP
- US$603.87 billion (2025)
- GDP per person
- US$98,814 (2025)
- Life expectancy
- 83.3 years (2024)
- Urban population
- 100% of population (2025)
Largest cities: Singapore.
Also ranks #1 in gdp per capita ppp · #1 in government debt share of gdp · #1 in human capital index.
#6 Bhutan
Bhutan ranks #6 on this list with +30 pts.
- Capital
- Thimphu
- Continent
- Asia
- Income group
- Lower middle income
- Population
- 796,680 people (2025)
- GDP
- US$3.58 billion (2025)
- GDP per person
- US$4,493 (2025)
- Life expectancy
- 73.3 years (2024)
- Urban population
- 43.4% of population (2025)
Also ranks #3 in gross capital formation rate · #4 in water resources per capita · #4 in protected terrestrial area share.
#7 Zambia
Zambia ranks #7 on this list with +25 pts.
- Capital
- Lusaka
- Continent
- Africa
- Income group
- Lower middle income
- Population
- 21.91 million people (2025)
- GDP
- US$28.88 billion (2025)
- GDP per person
- US$1,318 (2025)
- Life expectancy
- 66.5 years (2024)
- Urban population
- 45.9% of population (2025)
Largest cities: Lusaka.
Also ranks #2 in mineral rents share of gdp · #3 in gini index · #4 in prevalence of undernourishment.
#8 Thailand
Thailand ranks #8 on this list with +23.2 pts.
- Capital
- Bangkok
- Continent
- Asia
- Income group
- Upper middle income
- Population
- 71.62 million people (2025)
- GDP
- US$577.01 billion (2025)
- GDP per person
- US$8,057 (2025)
- Life expectancy
- 76.6 years (2024)
- Urban population
- 62.8% of population (2025)
Largest cities: Bangkok, Chiang Mai.
Also ranks #5 in tourism arrivals · #10 in tourism receipts · #11 in manufacturing value added share of gdp.
#9 Malawi
Malawi ranks #9 on this list with +20.1 pts.
- Capital
- Lilongwe
- Continent
- Africa
- Income group
- Low income
- Population
- 22.22 million people (2025)
- GDP
- US$14.92 billion (2025)
- GDP per person
- US$671.5 (2025)
- Life expectancy
- 67.6 years (2024)
- Urban population
- 17.6% of population (2025)
Also ranks #3 in school enrolment (primary) · #3 in pupil-teacher ratio (primary) · #3 in poverty headcount ratio.
#10 New Zealand
New Zealand ranks #10 on this list with +19.2 pts.
- Capital
- Wellington
- Continent
- Oceania
- Income group
- High income
- Population
- 5.32 million people (2025)
- GDP
- US$264.06 billion (2025)
- GDP per person
- US$49,591 (2025)
- Life expectancy
- 82 years (2024)
- Urban population
- 84% of population (2025)
Largest cities: Auckland.
Also ranks #3 in voice and accountability score · #4 in tax revenue share of gdp · #4 in control of corruption score.
Profile facts: World Bank (CC BY 4.0) and Wikidata (CC0); weather links go to Purr Weather, another ChowChow Labs site.
Source and method
Change in Government debt share of GDP over the five years to each country's latest year, in points (a share or rate is not shown as a % of itself). Only countries that rose are listed.
Source: The World Bank, indicator GC.DOD.TOTL.GD.ZS. Licence: CC BY 4.0. Retrieved: 2026-11-14.
The World Bank: Central government debt, total (% of GDP): Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) (via World Development Indicators)
Original data provider, as recorded by the World Bank: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
Values are shown as published (changes are computed from the published values). Provider terms: The World Bank. All licences: Sources & licences.