GITNUXREPORT 2025

Government Finance Statistics

Global government debt exceeds $92 trillion, indicating mounting fiscal challenges worldwide.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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The total federal and state government payroll in the US was about 22 million employees in 2022

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Total government employment in France was about 5.2 million people in 2022

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The total government assets globally are estimated to be around $85 trillion as of 2022

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The total public sector employment in South Korea was about 4.2 million in 2022

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Public spending in Japan accounted for about 37.2% of its GDP in 2021

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The European Union's budget for 2023 is estimated at €187.4 billion

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In India, government expenditure as a percentage of GDP was around 12.7% in 2022

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Australia's government spending accounted for roughly 28.4% of GDP in 2021

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The global government health expenditure was about 9% of total health expenditure in 2020

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In 2022, the US federal budget deficit was approximately 5.3% of GDP

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Brazil’s government expenditure was approximately 38.4% of its GDP in 2021

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The US spends approximately $700 billion annually on defense, which is about 3.5% of its GDP

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The UK allocated about £808 billion for public spending in 2023

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Government social security and welfare expenditures in Italy represented around 14% of GDP in 2022

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Government expenditures on education globally account for about 4% of global GDP

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US federal Medicaid expenditures totaled over $418 billion in 2022

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Mexico's government expenditure reached about 25% of GDP in 2022

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The amount of government stimulus spending globally in response to COVID-19 was estimated at over $12 trillion between 2020-2022

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The total foreign aid committed by governments worldwide was about $161 billion in 2022

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The government of India allocated roughly 2.8% of its GDP to defense in 2022

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As of 2022, the federal budget of South Korea was approximately $587 billion

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China’s government revenue was approximately 20.3 trillion yuan in 2022

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In 2020, local governments in the US collected approximately $2.6 trillion in taxes

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Japan’s government revenue from taxes was about 46% of total revenue in 2022

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The share of government revenue derived from income taxes across OECD countries averaged 30% in 2021

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About 15% of the world's government revenue was generated by customs and import duties in 2021

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Russia's federal budget revenue was roughly 21 trillion rubles in 2022

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The government of Australia’s revenue from natural resources was estimated at AUD 60 billion in 2022

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The share of government revenue from corporate taxes was approximately 15% across OECD countries in 2021

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As of 2022, government debt worldwide exceeded $92 trillion

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The United States federal debt was approximately $31.4 trillion in 2023

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The median government debt-to-GDP ratio among OECD countries was 87.5% in 2022

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The UK's public sector net debt was approximately 98.4% of GDP in 2023

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Germany’s federal, state, and local government debt was about €2.2 trillion in 2021

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France's government debt was around €3.2 trillion in 2022

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Canada’s federal and provincial debt combined was roughly CAD 2.4 trillion in 2022

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In China, local government debt reached approximately RMB 24.2 trillion in 2022

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Japan's fiscal deficit was about 4.4% of GDP in 2022

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U.S. state and local government pension liabilities exceeded $3.3 trillion in 2022

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The total European Union public debt stood at approximately €12.8 trillion in 2022

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In 2020, the average government debt-to-GDP ratio among emerging markets was 55%

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The Netherlands' government debt was approximately €440 billion in 2021

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Spain's government debt was about €1.1 trillion in 2022

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In South Africa, government debt was approximately 74% of GDP in 2022

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The average age of government debt maturities worldwide was 6 years in 2021

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The total amount of government bonds issued globally was approximately $100 trillion in 2022

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The average interest rate on sovereign bonds in the US was around 3% in 2023

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Key Highlights

As of 2022, government debt worldwide exceeded $92 trillion
The United States federal debt was approximately $31.4 trillion in 2023
Public spending in Japan accounted for about 37.2% of its GDP in 2021
The European Union's budget for 2023 is estimated at €187.4 billion
China’s government revenue was approximately 20.3 trillion yuan in 2022
In 2020, local governments in the US collected approximately $2.6 trillion in taxes
The median government debt-to-GDP ratio among OECD countries was 87.5% in 2022
The total federal and state government payroll in the US was about 22 million employees in 2022
In India, government expenditure as a percentage of GDP was around 12.7% in 2022
The UK's public sector net debt was approximately 98.4% of GDP in 2023
Australia's government spending accounted for roughly 28.4% of GDP in 2021
The global government health expenditure was about 9% of total health expenditure in 2020
In 2022, the US federal budget deficit was approximately 5.3% of GDP

With global government debt soaring past $92 trillion and nations taking unprecedented steps to manage their budgets, it’s clear that government finance remains a complex and vital force shaping economic stability worldwide.

Government Employment and Assets

The total federal and state government payroll in the US was about 22 million employees in 2022
Total government employment in France was about 5.2 million people in 2022
The total government assets globally are estimated to be around $85 trillion as of 2022
The total public sector employment in South Korea was about 4.2 million in 2022

Government Employment and Assets Interpretation

With over 22 million Americans on the government payroll versus just 5.2 million in France and 4.2 million in South Korea, the global $85 trillion in public assets reflects a vast, complex infrastructure—reminding us that government size and wealth are as diverse as their payrolls.

Government Expenditure and Spending

Public spending in Japan accounted for about 37.2% of its GDP in 2021
The European Union's budget for 2023 is estimated at €187.4 billion
In India, government expenditure as a percentage of GDP was around 12.7% in 2022
Australia's government spending accounted for roughly 28.4% of GDP in 2021
The global government health expenditure was about 9% of total health expenditure in 2020
In 2022, the US federal budget deficit was approximately 5.3% of GDP
Brazil’s government expenditure was approximately 38.4% of its GDP in 2021
The US spends approximately $700 billion annually on defense, which is about 3.5% of its GDP
The UK allocated about £808 billion for public spending in 2023
Government social security and welfare expenditures in Italy represented around 14% of GDP in 2022
Government expenditures on education globally account for about 4% of global GDP
US federal Medicaid expenditures totaled over $418 billion in 2022
Mexico's government expenditure reached about 25% of GDP in 2022
The amount of government stimulus spending globally in response to COVID-19 was estimated at over $12 trillion between 2020-2022
The total foreign aid committed by governments worldwide was about $161 billion in 2022
The government of India allocated roughly 2.8% of its GDP to defense in 2022
As of 2022, the federal budget of South Korea was approximately $587 billion

Government Expenditure and Spending Interpretation

While government spending varies widely—from Japan’s 37.2% of GDP to India's modest 12.7%—the overarching lesson remains clear: countries worldwide are collectively wielding their financial tools, whether to boost health, education, defense, or stimulus, revealing that in the realm of public finance, there's no one-size-fits-all approach, only a global dance of priorities.

Government Revenue and Taxation

China’s government revenue was approximately 20.3 trillion yuan in 2022
In 2020, local governments in the US collected approximately $2.6 trillion in taxes
Japan’s government revenue from taxes was about 46% of total revenue in 2022
The share of government revenue derived from income taxes across OECD countries averaged 30% in 2021
About 15% of the world's government revenue was generated by customs and import duties in 2021
Russia's federal budget revenue was roughly 21 trillion rubles in 2022
The government of Australia’s revenue from natural resources was estimated at AUD 60 billion in 2022
The share of government revenue from corporate taxes was approximately 15% across OECD countries in 2021

Government Revenue and Taxation Interpretation

While China’s staggering 20.3 trillion yuan revenue in 2022 and Japan’s nearly half of total income from taxes showcase robust fiscal engines, the global picture reveals a diverse tax landscape where customs duties, resource royalties, and corporate taxes each carve out vital, yet differently valued, slices of the revenue pie.

Public Debt Levels and Ratios

As of 2022, government debt worldwide exceeded $92 trillion
The United States federal debt was approximately $31.4 trillion in 2023
The median government debt-to-GDP ratio among OECD countries was 87.5% in 2022
The UK's public sector net debt was approximately 98.4% of GDP in 2023
Germany’s federal, state, and local government debt was about €2.2 trillion in 2021
France's government debt was around €3.2 trillion in 2022
Canada’s federal and provincial debt combined was roughly CAD 2.4 trillion in 2022
In China, local government debt reached approximately RMB 24.2 trillion in 2022
Japan's fiscal deficit was about 4.4% of GDP in 2022
U.S. state and local government pension liabilities exceeded $3.3 trillion in 2022
The total European Union public debt stood at approximately €12.8 trillion in 2022
In 2020, the average government debt-to-GDP ratio among emerging markets was 55%
The Netherlands' government debt was approximately €440 billion in 2021
Spain's government debt was about €1.1 trillion in 2022
In South Africa, government debt was approximately 74% of GDP in 2022

Public Debt Levels and Ratios Interpretation

With global government debt surpassing $92 trillion, including the U.S.'s $31.4 trillion and Europe's €12.8 trillion, it's clear that many nations are balancing tightrope walks on fiscal tightropes—raising the question of whether our collective future is financed more by confidence or a high wire act.

Sovereign Bond and Fiscal Policy

The average age of government debt maturities worldwide was 6 years in 2021
The total amount of government bonds issued globally was approximately $100 trillion in 2022
The average interest rate on sovereign bonds in the US was around 3% in 2023

Sovereign Bond and Fiscal Policy Interpretation

With a global debt maturing in six years on average, a staggering $100 trillion in bonds issued, and US sovereign rates hovering around 3%, governments are riding a financial rollercoaster that demands both savvy navigation and a healthy dose of borrowing prudence.