Thailand Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
Thailand's government debt to gdp was 64.94% in 2025, ranked 62nd globally. This represents a 2.7% increase from 2024. Data from IMF WEO, covering 1996–2025.
Overview
Thailand's government debt to gdp stood at 64.94% in 2025, a rise of +1.73% from 2024. The IMF projects 64.94% by 2025. Thailand ranked 62nd globally.
Thailand’s government debt-to‑GDP ratio has risen from a low of 15.19 in 1996 to an all‑time high of 64.94 in 2025, placing the country 62nd in the world and just below peers such as Trinidad and Tobago (65.34) and Belize (64.72). The 30‑year trajectory reflects a gradual accumulation of fiscal liabilities, accelerated by the fiscal stimulus measures adopted after the 2008 global financial crisis and again following the COVID‑19 pandemic, which together pushed the ratio upward from the mid‑30s in the early 2010s to its current level. Compared with Germany, whose ratio stands at 64.42, Thailand’s debt burden is similar, yet the Thai economy’s smaller fiscal space and reliance on export‑driven growth could limit flexibility. If fiscal consolidation measures succeed and primary surpluses are maintained, the upward trend may plateau; however, renewed borrowing to fund infrastructure or social programs could sustain the rise in the coming years.
Data & projection
| Year | Government Debt to GDP | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 68.89% | - | - |
| 2029* IMF | 68.66% | - | - |
| 2028* IMF | 68.31% | - | - |
| 2027* IMF | 67.73% | - | - |
| 2026* IMF | 66.66% | - | - |
| 2025* IMF | 64.94% | - | - |
| 2025 | 64.94% | +1.73% | #62 |
| 2024 | 63.20% | +0.88% | #115 |
| 2023 | 62.32% | +1.77% | #116 |
| 2022 | 60.55% | +2.20% | #109 |
| 2021 | 58.35% | +8.93% | #99 |
| 2020 | 49.42% | +8.36% | #77 |
| 2019 | 41.06% | −0.88% | #70 |
| 2018 | 41.94% | +0.16% | #77 |
| 2017 | 41.78% | +0.03% | #77 |
| 2016 | 41.75% | −0.81% | #81 |
| 2015 | 42.56% | −0.78% | #90 |
| 2014 | 43.33% | +1.14% | #105 |
| 2013 | 42.19% | +0.26% | #106 |
| 2012 | 41.93% | +2.81% | #111 |
| 2011 | 39.12% | −0.72% | #104 |
Detected Pattern
Analysis
Thailand matched the Export Boom Cycle pattern in 2017. 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
Thailand's government debt to gdp was 64.94% in 2025. Ranked 62nd globally. This represents a 2.7% increase from the previous year.
Thailand's government debt to gdp peaked at 64.94% in 2025.
The lowest government debt to gdp in Thailand was 15.19% in 1996.
Thailand ranks 62nd globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
Thailand's government debt to gdp is projected to reach 64.94% by 2025 based on IMF projection.
The government debt to gdp of Thailand in 2025 was 64.94%. This ranks 62nd in the world.
Cite this page
@misc{historysaid_thailand_government-debt-to-gdp,
title = {Thailand Government Debt to GDP},
url = {https://historysaid.com/thailand/government-debt-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}