Global debt ranking announced: Where does Turkey stand?

The financial burden of households continues to grow on a global scale. Recent data reveals that a large portion of total debt is concentrated in the US and China. It is noted that more than half of the total household debt belongs to these two countries.

The US tops the list with 21.2 trillion dollars in household debt. Behind this massive figure, reasons such as high housing prices, credit card usage, and auto loans stand out. China maintains second place with 12.3 trillion dollars. The rapidly growing credit volume and the housing sector over the last 20 years are among the primary factors triggering China's debt increase.

The data also indicates that indebtedness is more intense, particularly in developed economies. The United Kingdom is in third place with 3 trillion dollars in debt, followed by Japan and Germany at the 2.5 trillion dollar level. Canada, Australia, and France are also among the countries that stand out in terms of total household debt.

It is observed that a large portion of household debt in the US is based on mortgage loans. Financial experts evaluate these high debt ratios as a direct result of developed financial markets and rising costs of living. In China, the activity in the real estate market and the expansion in consumer loans have caused the debt stock to climb rapidly in recent years.

Turkey is positioned 38th globally with 151 billion dollars in household debt. While this amount places Turkey ahead of many developing countries, it indicates that it has a lower debt profile compared to European Union and OECD member countries. The high inflation environment and fluctuations in interest rates in Turkey directly affect citizens' credit usage behaviors. Housing and consumer loans are among the most important items in our country's total debt stock.

The report also highlights that global debt levels vary by country, and there are significant divergences in debt distribution when economic development, the structure of financial markets, and social dynamics are taken into account. Led by the US and China, the United Kingdom, Japan, Germany, Canada, Australia, and France are among the countries with the highest household debt as of 2026.

News Source: 12punto