25 Countries With The Most External Debt

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15. Austria.

Austria is one of the richest 13 countries in the world in terms of GDP per capita according to the International Monetary Fund. It has a developed social market economy, and a high standard of living.

Until the 1980s, many major Austrian industrialists had been nationalized. In recent years, privatization had reduced state holdings to a level comparable to other European economies.

Labor movements are effectively strong in Austria and have a significant impact on labor policies. Tourism is the most important part of the national economy, along with great industrial development.

In the period from 2011 to 2016, the economic plans tried to rid the country of its debts and they have been successful and have succeeded somewhat, but they are still classified among countries with the highest external debt.

Austria Debt Stats

  • External debt: 638 Billion USD
  • last updated date: 30 June 2017
  • Debt Per capita: 73,100 USD
  • % of GDP: 167%

14. Sweden.

Sweden is a competitive mixed economy with a generous global welfare state. It is financed by relatively high income taxes that ensure income distribution throughout society, a model sometimes called the North model.

In 2014, the proportion of national wealth owned by the government was 24.1%. Since that, the government has entered into economic crises, as many economic analysts have predicted, and the country has fallen into the external debt problem.

Sweden Debt Stats

  • External debt: 993 Billion USD
  • last updated date: 30 June 2017
  • Debt Per capita: 94,500 USD
  • % of GDP: 177%

13. Belgium.

Although it’s not a very big country and it has a low population, Belgium is one of the most industrialized countries in Europe.

It imports raw materials in large quantities because of the scarcity of its natural resources and then processes them for processing mainly for export.

Belgian exports account for about two-thirds of GDP and about three-quarters of foreign trade with other EU countries.

Despite its small size, low population and high income per capita income, the country suffers from its external debt.

Belgium Debt Stats

  • External debt: 1.278 Trillion USD
  • last updated date: 30 June 2017
  • Debt Per capita: 112,000 USD
  • % of GDP: 265%

12. Singapore.

Singapore’s economy is highly developed. Before the 1960s, Singapore was a trading country, but since then the economy has developed and became more diversified.

It has become an important financial and trade center and a hub for transportation. Tourism is also of great importance.

Singapore’s large economic jump required huge sums of money, and its external debts have soared while the country is currently trying to pay back those debts.

Singapore Debt Stats

  • External debt: 1.320 Trillion USD
  • last updated date: 30 June 2017
  • Debt Per capita: 231,000 USD
  • % of GDP: 453%

11. Australia.

There has been a lot of news that the Australian economy is booming despite the escalating US-China trade dispute and rising household debt levels.

The RBA has previously warned that sharply escalating trade tensions between the US and China pose an external threat to Australia’s economic expansion. Which has been going on for more than 25 years, is likely to fizzle out as Australian economic activity is slowing from the services sector. Which is the biggest engine of economic growth.

At the end, the Australian economy may not be able to survive and growing challenges facing both at the level of internal or external. In particular with renewed signs that demonstrate the suffering of the service sector in the country and thus remains the burden of external debt on the Australian Government.

Australia Debt Stats

  • External debt: 1.487 Trillion USD
  • last updated date: 30 June 2017
  • Debt Per capita: 60,800 USD
  • % of GDP: 126%

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