🇮🇸 Iceland vs 🇯🇵 Japan

Live side-by-side comparison of government debt. Japan currently owes about 378.7× as much as Iceland — a gap of $8.72 trillion. Updated every second from each country's baseline figure; sources below.

Among the 135 governments tracked here, Iceland ranks 62nd by debt-to-GDP and Japan 1st. Measured per person, Iceland is 9th and Japan 3rd.

Analysis

By total government debt, Iceland ranks 98th and Japan 3rd among the 135 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 government debt in Japan is roughly 1.2× that in Iceland ($71,248 vs $57,978 per person).

The debt-to-GDP picture is asymmetric here: Japan sits at 205% of GDP, well above Iceland's 57%, meaning Japan 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: Iceland's debt is growing faster in dollar terms ($49/sec vs −$15K/sec for Japan), closing the difference by roughly $1,269,820,800 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 roughly 19 years.

Scale is part of the story too: Japan's population (123M) is about 308.2× Iceland's (0M), 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.

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

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