Economic and political instability, budget deficit forces the governments to resort to borrowed funds. Money borrowed from other countries, from international funds and investors help to increase financial opportunities and replenish the country's resources. But on the other hand, they increase the risks of the economic crisis. External debt is the difference between borrowed funds and interest and principal payments. It is measured in dollars for easy comparison with GDP indicators. In many countries, this debt has been piling up for decades. The global crisis of 2007-2008 contributed to its increase. But the external debt of the countries of the world for 2015 broke all records. The leaders among the debtors are the countries of the Eurozone. The first position is held by the largest economy in the world - the USA.
The ranking includes a dozen countries with the largest external loan in the world for the previous year.
List
- 10. Canada | 1.49 trillion dollars
- 9. Spain | 1.5 trillion dollars
- 8. Brazil | 1.8 trillion dollars
- 7. France | 2.3 trillion dollars
- 6. Italy | 2.5 trillion dollars
- 5. United Kingdom | 2.52 trillion dollars
- 4. Germany | 2.6 trillion dollars
- 3. China | 3.1 trillion dollars
- 2. Japan | 12.2 trillion dollars
- 1. USA | 19.75 trillion dollars
10 dollars
Canada opens a dozen countries with the largest external debt.
The country's debt began to grow rapidly during the 2008 crisis. Since that time, the country owed the world $ 1.49 trillion to cover the budget deficit and stimulate the economy. If you divide this amount, then for every Canadian there will be 39 thousand dollars of debt. In 2015, Canada experienced an economic downturn and the country's GDP declined. The main position in the economy is held by the timber and oil industries. Moreover, oil is produced by a much more complex and expensive method, unlike the traditional one. The fall in oil prices forced industrialists to cut production costs. First of all, due to job cuts. The state was forced to resort to loans in order to provide social guarantees to the population and stabilize the economic situation.
9. dollars
Spain on the ninth line of the rating. The external debt of this country has reached the highest level in history. If you divide it per capita, then each will have 31 thousand dollars. And if you divide the debt by interest, then each will have more than 720 euros, and this despite the fact that the average salary in the country is slightly more than 650 euros. The government allocates more funds to pay off debt than to fight unemployment and social programs. At the same time, GDP grew by 3%, and experts predict the same increase in 2016. At the end of 2015, the country's total external debt was estimated at $ 1.5 trillion.
8. dollars
Brazil owed the world about 1.8 trillion dollars. For one of the largest countries in Latin America, 2015 was marked by an economic decline in production by almost 4%, a surge in inflation and unemployment. The fall in commodity prices (and this is mainly agriculture), the decline in demand from China’s main trading partner, and the unfavorable political situation were the prerequisites for the growth of state debt. Investors try not to invest in Brazilian bonds. Nevertheless, the country's foreign exchange reserves are strong enough so that there are no problems with servicing external debt.
7. dollars
The public debt of another eurozone state is growing - France. For 2015, the loan amount amounted to 2.3 trillion dollars. Low consumer activity, a high unemployment rate of 10.5% and virtually no investment hamper the development of the economy. But they do not interfere with building up public debt, which for 2015 amounted to just above 95% of GDP. Every Frenchman owes 34 thousand euros and this debt continues to grow.
6. dollars
Italy with a debt of 2.5 trillion dollars was in the top ten countries with the largest loan. The government is not going to stop, increasing the volume of borrowed funds. Thus, she is trying to stabilize the economic situation in the country. For every inhabitant of the country, 41 thousand euros of debt, which is more than 130% of GDP, are accounted for. Experts see the problem in an unfavorable climate for business created by the state, in a high level of corruption, in the absence of reforms that can change the current structure of power. Despite the fact that Italy is gaining debts to boost the economy, the growth of the latter is not observed.
5 dollars
Economy Great Britain considered one of the most developed in the world. But in 2015, the country's debt exceeded the mark of 2.52 trillion dollars. Its main part is short-term loans of commercial banks. Most of all, Britain owes the United States and Germany, France and Spain. Due to the large stock of foreign exchange assets, experts do not sound the alarm and do not talk about the economic crisis. The British pound, being a convertible currency, firmly holds its position.
4. dollars
Germany located a step away from the three largest debtors in the world. The amount that the country owes is estimated at $ 2.6 trillion.
But despite a relatively large debt, Germany's economy remains stable. With regard to the ratio of debt to GDP, the country has the highest indicator in the world by these criteria - more than 80%.
3. dollars
China (China) is the world's largest creditor and, paradoxically, it is also one of the main debtors according to 2015 data. But China is considered a “good” debtor, as its huge reserves of gold and currency ensure timely payment of debt. At the beginning of 2016, the debt of China amounted to 3.1 trillion dollars.
2. dollars
Japan - One of the most meticulous countries in terms of finance has become one of the largest debts in the world in 2015. Its debt to date is 12.2 trillion dollars, and it is growing more and more every day. Over the past year alone, its amount has increased by more than 1.4 trillion dollars. The accident at the Fukushima nuclear power plant after the 2011 tsunami affected the country's economy very much. The state was forced to increase debt to eliminate the consequences.
1. dollars
USA occupy the first line of the rating. The most developed economy and one of the largest countries has the largest external debt, which is estimated at 19.75 trillion dollars. This figure only indicates that Americans do not save, and their expenses sometimes exceed revenues.
The main US investors are China and Japan. These countries, at any level of United States debt, will buy their bonds so that America can use their money to pay for their goods. Russia is also one of America's top ten lenders.