Spain Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Spain's government debt to gdp was 100.40% in 2025, ranked 17th globally. This represents a 1.2% decrease from 2024. Data from IMF WEO, covering 1980–2025.
Overview
Spain's government debt to gdp stood at 100.40% in 2025, a decline of +1.25% from 2024. The IMF projects 100.40% by 2025. Spain ranked 17th globally.
Spain’s government debt-to-GDP ratio stood at 100.40% in 2025, ranking the country 17th globally according to the IMF World Economic Outlook. This level reflects a significant increase from its historical trough of 16.11% in 1980 and remains below the all-time peak of 119.18% reached in 2020 amid the economic fallout from the pandemic. Over the 46-year coverage period, Spain’s debt trajectory has been shaped by cycles of fiscal expansion and consolidation, influenced by structural reforms, economic crises, and EU fiscal guidelines. The 2025 figure places Spain’s indebtedness slightly below that of Bhutan at 105.61% and marginally above Barbados at 99.78%, positioning it in a group of countries with high but not exceptional debt burdens relative to output. While the downward trend from the 2020 peak suggests some fiscal stabilization, the path ahead will depend on sustained economic growth, interest rate developments, and policy measures to manage fiscal sustainability. A shift in the current trajectory could emerge from stronger-than-expected growth or renewed fiscal pressures from an aging population and energy transition costs.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 92.56% | - | - |
| 2029* IMF | 94.08% | - | - |
| 2028* IMF | 95.55% | - | - |
| 2027* IMF | 96.92% | - | - |
| 2026* IMF | 98.71% | - | - |
| 2025* IMF | 100.40% | - | - |
| 2025 | 100.40% | −1.25% | #17 |
| 2024 | 101.65% | −3.43% | #171 |
| 2023 | 105.07% | −4.15% | #169 |
| 2022 | 109.23% | −6.37% | #171 |
| 2021 | 115.59% | −3.59% | #174 |
| 2020 | 119.18% | +21.60% | #173 |
| 2019 | 97.58% | −2.14% | #171 |
| 2018 | 99.72% | −1.43% | #174 |
| 2017 | 101.14% | −0.82% | #174 |
| 2016 | 101.97% | −0.47% | #171 |
| 2015 | 102.44% | −1.98% | #176 |
| 2014 | 104.42% | +4.42% | #175 |
| 2013 | 100.00% | +10.44% | #173 |
| 2012 | 89.56% | +20.03% | #171 |
| 2011 | 69.53% | +9.26% | #158 |
Detected Pattern
Analysis
Spain matched the Export Boom Cycle pattern in 2023. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Spain's government debt to gdp was 100.40% in 2025. Ranked 17th globally. This represents a 1.2% decrease from the previous year.
Spain's government debt to gdp peaked at 119.18% in 2020.
The lowest government debt to gdp in Spain was 16.11% in 1980.
Spain ranks 17th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Spain's government debt to gdp is projected to reach 100.40% by 2025 based on IMF projection.
The government debt to gdp of Spain in 2025 was 100.40%. This ranks 17th in the world.
Cite this page
@misc{historysaid_spain_government-debt-to-gdp,
title = {Spain Government Debt to GDP},
url = {https://historysaid.com/spain/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}