🇯🇵 Japan vs 🇭🇰 Hong Kong

Live side-by-side comparison of government debt. Japan currently owes about 137.1× as much as Hong Kong — a gap of $8.66 trillion. Updated every second from each country's baseline figure; sources below.

Net debt and interest: IMF World Economic Outlook, October 2026, general government, 2025, mostly IMF estimates. A dash means no comparable figure. How these are calculated.

Among the 194 governments tracked here, Japan ranks 1st by debt-to-GDP and Hong Kong 184th. Measured per person, Japan is 3rd and Hong Kong 72nd.

Analysis

By total government debt, Japan ranks 3rd and Hong Kong 71st among the 194 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 8.4× that in Hong Kong ($71,124 vs $8,435 per person).

The debt-to-GDP picture is asymmetric here: Japan sits at 205% of GDP, well above Hong Kong's 12%, 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 IMF puts Japan at 132% of GDP net of financial assets, and publishes no net debt figure for Hong Kong. Japan spends about 0.5% of government revenue on net interest ($8.8 billion in 2025), while Hong Kong takes in at least as much interest as it owes. See the full interest ranking.

The gap between them is narrowing: Hong Kong's debt is growing faster in dollar terms ($411/sec vs −$15K/sec for Japan), closing the difference by roughly $1,301,097,600 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 18 years.

Scale is part of the story too: Japan's population (123M) is about 16.3× Hong Kong's (8M), 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.

Japan and Hong Kong are both grouped under this site's “Asia-Pacific” 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.

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