🇨🇦 Canada vs 🇲🇽 Mexico

Analysis

By total government debt, Canada ranks 9th-largest and Mexico ranks 12th-largest among the 137 sovereigns tracked on this site.

On a per-citizen basis the picture can look different from the nominal totals: a resident's notional share of the national debt in Canada is roughly 6.9× that in Mexico ($68,103 vs $9,803 per person).

The debt-to-GDP picture is asymmetric here: Canada sits at 114% of GDP, well above Mexico's 62%, meaning Canada owes far more relative to the size of its own economy — even where the nominal, dollar-for-dollar comparison above suggests otherwise.

The gap between them is narrowing: Mexico's debt is growing faster in dollar terms ($6K/sec vs $5K/sec for Canada), closing the difference by roughly $149,126,400 per day. At that pace — and holding both growth rates constant, a simplification, since real-world rates shift with fiscal policy — the two would reach a similar total in a rough 27 years.

Scale is part of the story too: Mexico's population (129M) is about 3.2× Canada's (40M), which is part of why the nominal and per-capita comparisons above can point in different directions — a government's debt load scales loosely with the size of both its economy and its population, not either alone.

Canada and Mexico are both grouped under this site's “Americas” region, so this is, in effect, an intra-regional comparison as well.

This analysis is generated automatically from live data as an educational orientation, not financial advice — see the methodology page for definitions and caveats.