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Mexico Debt to GDP Ratio

Mexico's government debt-to-GDP ratio fell to 49.7% in 2024, the lowest since 2017, down from 53.1% in 2023. This decline results from economic growth and a conservative fiscal policy including increased tax collection and reduced oil revenue reliance. Despite an estimated 2024 deficit of 5.9% of GDP, the debt ratio improved. Mexico's record low government debt to GDP was 17.9% in 2007 and record high was 58.5% in 2020.

Yearly Historical Data (1990-2024)

(in %)
Year Debt to GDP Ratio
2024 49.7%
2023 53.1%
2022 54.2%
2021 56.9%
2020 58.5%
2019 51.9%
2018 52.2%
2017 46%
2016 48.2%
2015 43.9%
2014 39.7%
2013 36.5%
2012 33.8%
2011 33.1%
2010 31.5%
2009 31.2%
2008 21%
2007 17.9%
2006 18.7%
2005 20.5%
2004 21.8%
2003 23.1%
2002 21.6%
2001 19.5%
2000 19.9%
1999 21.2%
1998 24.2%
1997 23.1%
1996 26.7%
1995 36.2%
1994 32.6%
1993 22.9%
1992 25%
1991 31.3%
1990 42.3%
Mexico Debt to GDP Ratio : Definition
Mexico's government debt to GDP shows its total government debt relative to its gross domestic product. It is calculated by dividing total government debt by GDP, then multiplying by 100%. A higher ratio can signal fiscal challenges.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -0.8% -1.5% Dec'24
Interest Rate 7.5% 7.75% Sep'25
Private Credit (% GDP) 34.65% 33.24% 2024