Ukraine External Debt
Total external debt stocks DT.DOD.DECT.CD
Ukraine's external debt was $205.9B in 2025, ranked 10th globally. This represents a 6.4% increase from 2024. Data from World Bank, covering 1992–2025.
Overview
Ukraine's external debt stood at $205.9B in 2025, a rise of +$12.4B from 2024. Based on recent trends, this figure is projected to reach $205.9B by 2025. Ukraine ranked 10th globally.
Ukraine’s external debt has risen dramatically over the 34‑year series, expanding from a modest 550,691,959.60 in 1992 to an all‑time peak of 205,913,572,614.12 in 2025, ranking it tenth globally. This surge reflects successive borrowing cycles tied to geopolitical tensions, economic restructuring and the need to finance large‑scale reconstruction after the 2022 conflict. By contrast, peer economies such as Thailand carry 196,604,675,326.35 of external debt, while Colombia’s burden stands at 216,821,639,580.40, illustrating that Ukraine’s indebtedness now exceeds most emerging markets but remains below some regional counterparts. The steep upward trajectory underscores the reliance on external financing to sustain fiscal deficits and support investment, raising vulnerability to external shocks and exchange‑rate pressures. Continued debt accumulation will depend on the pace of post‑war recovery, reforms to broaden the tax base and the ability to attract concessional financing; without such adjustments the debt‑to‑GDP ratio may remain on an upward path.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $238.4B | - | - |
| 2026* trend | $222.1B | - | - |
| 2025* trend | $205.9B | - | - |
| 2025 | $205.9B | +$12.4B | #10 |
| 2024 | $193.5B | +$14.5B | #109 |
| 2023 | $179.0B | +$35.6B | #109 |
| 2022 | $143.4B | +$6.5B | #106 |
| 2021 | $136.9B | +$3.5B | #106 |
| 2020 | $133.4B | +$7.7B | #108 |
| 2019 | $125.7B | +$3.2B | #108 |
| 2018 | $122.6B | −$1.8B | #108 |
| 2017 | $124.4B | +$8.1B | #108 |
| 2016 | $116.3B | −$2.2B | #108 |
| 2015 | $118.6B | −$9.1B | #109 |
| 2014 | $127.7B | −$19.3B | #107 |
| 2013 | $146.9B | +$13.2B | #108 |
| 2012 | $133.7B | −$3.4B | #107 |
| 2011 | $137.1B | +$12.6B | #109 |
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 improve within 24 months. View full analysis →
Frequently Asked Questions
Ukraine's external debt was $205.9B in 2025. Ranked 10th globally. This represents a 6.4% increase from the previous year.
Ukraine's external debt peaked at $205.9B in 2025.
The lowest external debt in Ukraine was $550.7M in 1992.
Ukraine ranks 10th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Ukraine's external debt is projected to reach $205.9B by 2025 based on trend extrapolation.
Ukraine's external debt was approximately 205.91 billion ($205.9B) in 2025.
The external debt of Ukraine in 2025 was $205.9B. This ranks 10th in the world.
Cite this page
@misc{historysaid_ukraine_external-debt,
title = {Ukraine External Debt},
url = {https://historysaid.com/ukraine/external-debt/},
publisher = {HistorySaid},
year = {2026}
}