Ukraine External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Ukraine's external debt to gni was 105.48% in 2025, ranked 9th globally. This represents a 4.2% increase from 2024. Data from World Bank, covering 1992–2025.
Overview
Ukraine's external debt to gni stood at 105.48% in 2025, a rise of +4.21pp from 2024. Based on recent trends, this figure is projected to reach 105.48% by 2025. Ukraine ranked 9th globally.
Ukraine’s external debt to gross national income has risen sharply since the early 1990s, when the ratio stood at just 0.75% in 1992, to a World Bank‑reported 105.48% in 2025, ranking ninth globally. The steepest ascent occurred after the 2014‑15 crisis, when the metric peaked at 125.03% in 2015, reflecting heightened borrowing to finance military expenditures and reconstruction. By contrast, peer economies such as Bhutan (113.44%) and Lao PDR (123.32%) exhibit similarly elevated levels, underscoring a regional pattern of debt accumulation among lower‑income states. Despite a modest retreat from the 2015 apex, Ukraine’s debt burden remains well above the long‑term trough and continues to outpace many middle‑income counterparts. Future trajectory will depend on the pace of fiscal consolidation, external financing conditions, and the resolution of ongoing geopolitical tensions, which could either accelerate debt reduction or trigger a renewed surge.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 117.74% | - | - |
| 2026* trend | 111.61% | - | - |
| 2025* trend | 105.48% | - | - |
| 2025 | 105.48% | +4.21pp | #9 |
| 2024 | 101.27% | +5.19pp | #103 |
| 2023 | 96.08% | +11.97pp | #105 |
| 2022 | 84.11% | +13.53pp | #98 |
| 2021 | 70.58% | −12.77pp | #90 |
| 2020 | 83.36% | +2.66pp | #92 |
| 2019 | 80.70% | −12.04pp | #97 |
| 2018 | 92.74% | −16.67pp | #106 |
| 2017 | 109.41% | −13.94pp | #112 |
| 2016 | 123.34% | −1.68pp | #113 |
| 2015 | 125.03% | +28.30pp | #115 |
| 2014 | 96.73% | +18.45pp | #110 |
| 2013 | 78.28% | +4.22pp | #103 |
| 2012 | 74.06% | −11.12pp | #99 |
| 2011 | 85.17% | −6.42pp | #107 |
Detected Pattern
Analysis
Ukraine matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Ukraine's external debt to gni was 105.48% in 2025. Ranked 9th globally. This represents a 4.2% increase from the previous year.
Ukraine's external debt to gni peaked at 125.03% in 2015.
The lowest external debt to gni in Ukraine was 0.75% in 1992.
Ukraine ranks 9th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Ukraine's external debt to gni is projected to reach 105.48% by 2025 based on trend extrapolation.
The external debt to gni of Ukraine in 2025 was 105.48%. This ranks 9th in the world.
Cite this page
@misc{historysaid_ukraine_external-debt-to-gni,
title = {Ukraine External Debt to GNI},
url = {https://historysaid.com/ukraine/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}