<P> In economics, the debt - to - GDP ratio is the ratio between a country's government debt (a cumulative amount) and its gross domestic product (GDP) (measured in years). A low debt - to - GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt . Geopolitical and economic considerations - including interest rates, war, recessions, and other variables - influence the borrowing practices of a nation and the choice to incur further debt . </P> <P> In 2016, United States public debt - to - GDP ratio was at 104.8% . The level of public debt in Japan 2013 was 243.2% of GDP, in China 22.4% and in India 66.7%, according to the IMF, while the public debt - to - GDP ratio at the end of the 2nd quarter of 2016 was at 70.1% of GDP in Germany, 89.1% in the United Kingdom, 98.2% in France and 135.5% in Italy, according to Eurostat . </P> <P> Two thirds of US public debt is owned by US citizens, banks, corporations, and the Federal Reserve Bank; approximately one third of US public debt is held by foreign countries - particularly China and Japan . Conversely, less than 5% of Japanese public debt is held by foreign countries . </P>

What is the us national debt to gdp