National Debt (% of GDP): Mexico

Analysis# Mexico National Debt (% of GDP) Mexico's national debt reached 59.9% of GDP in 2026, marking an all-time peak and representing a dramatic 40.9% increase since 1996. The current level stands far above the historical low of 35.5% recorded in 2007, demonstrating a significant deterioration in Mexico's fiscal position over the past two decades. From the mid-1990s through the 2000s, the country maintained relatively stable debt levels, but this trajectory reversed sharply in subsequent years. The 2020 pandemic triggered a notable surge, with debt jumping from 51.9% in 2019 to 58.5% in 2020. While a modest decline followed in 2021-2023, reaching 52.6% by 2023, debt levels have resumed climbing, rising nearly 7.3 percentage points over 2024-2026. This recent upward trend suggests sustained fiscal pressures, with projections indicating debt will remain elevated in the near term.