U.S. Ranks Second in the World by Debt per Citizen, China in Top 50
In a recent analysis of data compiled by the United Nations, it was found that Singapore has the highest sovereign debt per capita in 2022. Each citizen of Singapore owes $117,400. The United States follows closely behind with $93,000 of debt per American. Japan, Canada, and Belgium also rank high on the list.
- Singapore has the highest sovereign debt per capita at $117,400.
- The United States ranks second with $93,000 of debt per American.
- Japan, Canada, and Belgium are also among the top 5 countries with high debt per capita.
- Russia ranks 94th on the list with $2,980 of state debt per capita.
- China, as part of the BRICS bloc, has the highest public debt per capita among the member countries.
It is interesting to note that while Russia ranks low on the list according to the United Nations, its Ministry of Finance and Federal State Statistics Service report a higher debt per capita. China, on the other hand, ranks 47th with a public debt per capita of $9,900. The other members of the BRICS bloc and the Eurasian Economic Union also have varying levels of debt per capita.
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Hot Take
These findings highlight the significant debt burdens faced by countries around the world. While some countries like Singapore and the United States have exceptionally high debt per capita, it is important to evaluate the overall economic and social factors contributing to these numbers. Addressing and managing debt is crucial for the long-term stability and growth of nations.
