Ranking
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Total value of outstanding international debt issues both public and private, as a share of GDP. Offshore bank loan data from BIS Statistical Appendix Table 12A (Amount Outstanding): International debt securities - all issuers.
As of 2020, Luxembourg ranks first with 424.17%, followed by Netherlands (149.73%) and Bahrain (110.55%).
Luxembourg is 2.8 times higher than Netherlands, the runner-up.
Across 110 countries and territories, values run from 424.17% (Luxembourg) to 0.93% (Ethiopia), with a median of 19.94%.
By region, the top 10 is made up of 6 from Europe, 2 from the Americas and 2 from Asia.
Source: World Bank Open Data — International debt issues to GDP (%), 2020. Unit: %.
Source: World Bank Open Data — International debt issues to GDP (%) · CC BY 4.0 · fetched Oct 17, 2026