🇪🇸 Spain vs 🇮🇹 Italy

Analysis

By total government debt, Spain ranks 11th-largest and Italy ranks 6th-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 Italy is roughly 1.5× that in Spain ($62,751 vs $42,368 per person).

Both countries carry debt-to-GDP ratios above the 100% mark that analysts often treat as an informal threshold for closer scrutiny — Spain at 100% and Italy at 137% — meaning each owes more than a full year's worth of national output.

The gap between them is widening: Italy's debt is growing faster in dollar terms ($9K/sec vs $4K/sec for Spain), adding roughly $416,966,400 to the difference each day.

Scale is part of the story too: Italy's population (59M) is about 1.2× Spain's (47M), 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.

Spain and Italy are both grouped under this site's “Europe” 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.