Global public debt increased steadily since 2010. Debt levels were significantly higher in developed than in developing countries, with nearly 1.5 trillion U.S. dollars in the former. Global public debt in the United States alone stood at 33 trillion dollars. However, debt levels increased at a much faster pace in developing countries between 2010 and 2023, more than doubling. High debt levels and borrowing costs are a significant problem for countries already struggling with poor government finances. For instance, borrowing costs in Africa are almost four times higher than in the U.S.
Global public debt in developed and developing countries from 2010 to 2023
(in billion U.S. dollars)
Characteristic
Developing countries
Developed countries
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Public debt is general domestic and external government debt. General government includes both central, state, and local governments as well as social security funds.
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UNCTAD. (June 3, 2024). Global public debt in developed and developing countries from 2010 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 11, 2024, from https://www.statista.com/statistics/1475546/global-public-debt-development-region/
UNCTAD. "Global public debt in developed and developing countries from 2010 to 2023 (in billion U.S. dollars)." Chart. June 3, 2024. Statista. Accessed September 11, 2024. https://www.statista.com/statistics/1475546/global-public-debt-development-region/
UNCTAD. (2024). Global public debt in developed and developing countries from 2010 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 11, 2024. https://www.statista.com/statistics/1475546/global-public-debt-development-region/
UNCTAD. "Global Public Debt in Developed and Developing Countries from 2010 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 3 Jun 2024, https://www.statista.com/statistics/1475546/global-public-debt-development-region/
UNCTAD, Global public debt in developed and developing countries from 2010 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1475546/global-public-debt-development-region/ (last visited September 11, 2024)
Global public debt in developed and developing countries from 2010 to 2023 (in billion U.S. dollars) [Graph], UNCTAD, June 3, 2024. [Online]. Available: https://www.statista.com/statistics/1475546/global-public-debt-development-region/
