National Debt (% of GDP): Canada
Current Value (2024)
64.9%
All-Time Peak (1996)
78.0%
All-Time Low (2007)
39.2%
National Debt (% of GDP) — Canada
Analysis# Canada's National Debt Analysis
Canada's debt-to-GDP ratio has declined substantially from its 1996 peak of 78.04% to the current 64.90%, reflecting the fiscal consolidation efforts of the late 1990s and early 2000s that were reinforced by the 2007 low of 39.16%—the most favorable position in the 35-year period. The ratio has risen 25.74 percentage points since 2007, indicating significant fiscal pressures from the 2008 financial crisis, pandemic-related spending, and structural deficits that have offset the earlier gains in debt reduction. Current levels at 64.90% remain notably elevated
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 64.9% | +3.89% |
| 2023 | 62.5% | +4.22% |
| 2022 | 59.9% | -12.85% |
| 2021 | 68.8% | -7.75% |
| 2020 | 74.6% | +39.71% |
| 2019 | 53.4% | +0.40% |
| 2018 | 53.2% | -2.41% |
| 2017 | 54.5% | -2.79% |
| 2016 | 56.0% | +0.06% |
| 2015 | 56.0% | +8.76% |
| 2014 | 51.5% | -3.23% |
| 2013 | 53.2% | -4.53% |
| 2012 | 55.7% | +2.97% |
| 2011 | 54.1% | +1.82% |
| 2010 | 53.1% | -0.08% |
| 2009 | 53.2% | +17.37% |
| 2008 | 45.3% | +15.74% |
| 2007 | 39.2% | -9.55% |
| 2006 | 43.3% | -6.01% |
| 2005 | 46.1% | -1.58% |
Show all 35 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 46.8% | -8.72% |
| 2003 | 51.3% | -5.31% |
| 2002 | 54.1% | -5.76% |
| 2001 | 57.5% | -2.18% |
| 2000 | 58.7% | -11.33% |
| 1999 | 66.2% | -8.60% |
| 1998 | 72.5% | -3.26% |
| 1997 | 74.9% | -3.99% |
| 1996 | 78.0% | +0.94% |
| 1995 | 77.3% | +1.80% |
| 1994 | 75.9% | +1.01% |
| 1993 | 75.2% | +6.34% |
| 1992 | 70.7% | +4.83% |
| 1991 | 67.4% | +9.20% |
| 1990 | 61.8% | — |