Chart 3
Net debt as a percentage of nominal gross domestic product by government subsector

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% 0 10 20 30 40 50 60 70 80 90 100 110 Q1 1993 Q1 1995 Q1 1997 Q1 1999 Q1 2001 Q1 2003 Q1 2005 Q1 2007 Q1 2009 Q1 2011 Q1 2013 Q1 2015 Q1 2017 Q1 2019 Q1 2021 Q1 2023 Q1 2025 Canadian general governmentCanadian general government Canadian general government (excluding social security funds)Canadian general government (excluding social security funds) Federal governmentFederal government Provincial, territorial and local governmentsProvincial, territorial and local governments
Note(s):
Q = quarter.
Source(s):
Tables 10-10-0015-01 and 36-10-0104-01.

Chart description


This is a line chart.

Net debt as a percentage of nominal gross domestic product by government subsector, %
  Canadian general government Canadian general government (excluding social security funds) Federal government Provincial, territorial and local governments
First quarter 1993 84.9 92.7 65.4 27.3
Second quarter 1993 87.6 95.6 66.1 29.6
Third quarter 1993 89.1 97.0 66.7 30.3
Fourth quarter 1993 90.8 98.6 67.1 31.5
First quarter 1994 89.7 97.4 68.7 28.7
Second quarter 1994 89.4 97.0 68.7 28.3
Third quarter 1994 88.7 96.0 68.3 27.7
Fourth quarter 1994 90.6 97.6 68.2 29.4
First quarter 1995 93.1 99.8 69.1 30.7
Second quarter 1995 94.1 100.8 69.0 31.8
Third quarter 1995 93.2 99.9 68.7 31.1
Fourth quarter 1995 92.0 98.8 70.0 28.8
First quarter 1996 95.9 102.3 70.8 31.5
Second quarter 1996 95.4 102.1 71.2 31.0
Third quarter 1996 96.7 103.2 70.8 32.4
Fourth quarter 1996 96.5 102.9 70.3 32.6
First quarter 1997 95.0 101.1 70.2 30.9
Second quarter 1997 92.3 98.3 68.9 29.4
Third quarter 1997 90.3 96.2 68.0 28.1
Fourth quarter 1997 90.4 96.3 67.2 29.1
First quarter 1998 89.8 95.4 66.7 28.7
Second quarter 1998 89.7 95.5 65.7 29.8
Third quarter 1998 88.9 94.8 64.4 30.5
Fourth quarter 1998 88.7 94.4 64.3 30.0
First quarter 1999 85.4 91.0 63.0 28.0
Second quarter 1999 81.7 87.6 61.2 26.4
Third quarter 1999 79.0 84.6 59.1 25.5
Fourth quarter 1999 75.5 80.9 57.4 23.6
First quarter 2000 71.9 77.9 55.0 23.0
Second quarter 2000 69.4 75.3 53.3 22.1
Third quarter 2000 66.9 72.8 51.5 21.3
Fourth quarter 2000 66.5 72.1 50.1 21.9
First quarter 2001 65.7 71.4 48.9 22.5
Second quarter 2001 62.6 68.6 46.8 21.8
Third quarter 2001 63.6 69.6 46.3 23.3
Fourth quarter 2001 64.0 69.9 46.8 23.1
First quarter 2002 63.7 69.8 46.7 23.1
Second quarter 2002 64.1 70.2 46.1 24.0
Third quarter 2002 65.2 70.9 45.3 25.6
Fourth quarter 2002 64.1 69.8 44.2 25.6
First quarter 2003 62.7 68.7 43.5 25.2
Second quarter 2003 63.0 69.4 44.2 25.2
Third quarter 2003 60.2 66.8 42.6 24.2
Fourth quarter 2003 59.1 65.8 42.0 23.8
First quarter 2004 59.5 66.8 42.6 24.2
Second quarter 2004 57.0 64.4 40.9 23.5
Third quarter 2004 55.8 63.2 40.0 23.2
Fourth quarter 2004 54.8 62.4 39.1 23.4
First quarter 2005 53.3 61.3 39.0 22.3
Second quarter 2005 53.1 61.5 38.9 22.6
Third quarter 2005 50.7 59.4 38.2 21.2
Fourth quarter 2005 49.2 57.7 37.1 20.6
First quarter 2006 47.6 56.7 36.7 20.0
Second quarter 2006 46.4 55.3 35.6 19.7
Third quarter 2006 45.4 54.7 35.2 19.5
Fourth quarter 2006 44.3 54.0 34.6 19.4
First quarter 2007 43.1 53.4 33.8 19.5
Second quarter 2007 40.6 51.1 32.6 18.5
Third quarter 2007 40.1 50.4 32.0 18.4
Fourth quarter 2007 40.6 50.6 31.6 19.0
First quarter 2008 41.2 51.3 31.6 19.7
Second quarter 2008 39.8 50.2 30.8 19.3
Third quarter 2008 39.7 49.0 30.0 19.0
Fourth quarter 2008 43.3 51.5 30.5 21.0
First quarter 2009 46.0 54.3 32.1 22.2
Second quarter 2009 46.6 55.8 32.8 23.0
Third quarter 2009 48.3 58.0 33.2 24.7
Fourth quarter 2009 49.8 59.6 33.7 25.9
First quarter 2010 50.6 60.8 34.1 26.7
Second quarter 2010 51.0 61.0 34.1 27.0
Third quarter 2010 52.0 62.6 34.4 28.1
Fourth quarter 2010 52.0 62.5 34.0 28.5
First quarter 2011 50.9 61.9 34.0 27.9
Second quarter 2011 52.5 63.6 34.3 29.3
Third quarter 2011 54.5 65.3 34.7 30.6
Fourth quarter 2011 55.8 66.6 35.1 31.5
First quarter 2012 55.2 66.5 35.3 31.2
Second quarter 2012 56.1 67.5 35.6 31.9
Third quarter 2012 55.1 66.5 35.3 31.2
Fourth quarter 2012 55.3 67.0 35.1 31.9
First quarter 2013 54.1 66.5 35.1 31.4
Second quarter 2013 50.9 63.6 33.7 29.8
Third quarter 2013 48.2 60.9 32.8 28.2
Fourth quarter 2013 47.3 60.3 32.4 27.9
First quarter 2014 45.0 59.1 31.2 27.8
Second quarter 2014 44.5 58.8 30.4 28.4
Third quarter 2014 43.0 57.5 29.8 27.7
Fourth quarter 2014 45.0 59.6 30.9 28.7
First quarter 2015 45.0 61.1 32.3 28.9
Second quarter 2015 42.0 58.4 30.6 27.8
Third quarter 2015 40.7 57.3 30.7 26.6
Fourth quarter 2015 41.0 58.2 31.2 26.9
First quarter 2016 43.0 60.0 32.0 28.1
Second quarter 2016 44.1 61.5 32.8 28.7
Third quarter 2016 44.1 62.3 33.4 28.8
Fourth quarter 2016 41.8 59.7 31.8 28.0
First quarter 2017 39.4 58.1 31.9 26.2
Second quarter 2017 37.9 56.9 31.2 25.6
Third quarter 2017 33.8 52.6 29.3 23.3
Fourth quarter 2017 34.1 53.2 29.3 23.9
First quarter 2018 33.1 53.0 29.2 23.8
Second quarter 2018 31.4 51.6 28.7 22.9
Third quarter 2018 29.5 49.5 27.5 21.9
Fourth quarter 2018 31.3 51.2 28.0 23.1
First quarter 2019 32.3 53.2 28.5 24.7
Second quarter 2019 32.6 53.8 29.2 24.6
Third quarter 2019 32.7 54.2 29.2 25.1
Fourth quarter 2019 31.3 53.1 28.6 24.4
First quarter 2020 36.3 57.3 31.0 26.2
Second quarter 2020 43.0 66.2 36.3 29.9
Third quarter 2020 43.8 68.2 39.2 29.0
Fourth quarter 2020 44.3 69.9 39.8 30.1
First quarter 2021 38.5 64.8 37.8 27.0
Second quarter 2021 38.1 64.3 39.3 25.0
Third quarter 2021 34.7 60.9 38.1 22.8
Fourth quarter 2021 32.7 58.8 37.0 21.8
First quarter 2022 27.0 52.1 34.6 17.5
Second quarter 2022 22.1 45.6 31.7 13.9
Third quarter 2022 19.5 42.5 30.3 12.2
Fourth quarter 2022 19.5 42.5 29.7 12.8
First quarter 2023 20.1 44.1 30.2 13.9
Second quarter 2023 18.7 42.9 30.1 12.8
Third quarter 2023 16.6 40.7 28.9 11.8
Fourth quarter 2023 21.6 46.3 30.9 15.4
First quarter 2024 18.6 44.4 30.6 13.8
Second quarter 2024 18.4 44.6 31.4 13.2
Third quarter 2024 19.1 46.2 32.0 14.2
Fourth quarter 2024 19.1 46.8 32.0 14.7
First quarter 2025 19.2 47.0 32.1 14.9
Note(s):
Q = quarter.
Source(s):
Tables 10-10-0015-01 and 36-10-0104-01.
Date modified: