Ireland's Debt hitting more than 10 folds its GDP

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The external debt of Ireland has finally reached an astonishing value exceeding Ireland's GDP by ten times. The external debt of Ireland as a percentage of its GDP has reached 1028 %.

Note that the external debt includes public and private debt owed by the government and Irish individuals and corporations to external lending sources.

Country Name

Global Rank

External Debt in (% of GDP)

Luxembourg
1
4,658

Ireland
2
1,028

Iceland
3
734

Monaco
4
680

Malta
5
527

Cyprus
6
431

Singapore
7
425

United Kingdom
8
413

Hong Kong SAR, China
9
398

Netherlands
10
322

Belgium
11
294

Ireland has the second highest External Debt to GDP ration after Luxembourg and Just ahead of Iceland.

Year

External Debt in (% of GDP) - Ireland

1998
12.5

2005
556.8

2006
683.0

2007
875.1

2008
880.4

2010
1,117.5

2011
1,018.5

2012
1,028.0

The chart below shows the ratio of external debt to GDP ratio since 1998 to 2012