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15 countries that have highest household debt
There are some countries that are struggling to manage the rapid increase in household debt, mainly due to loose lending practices by banks.
Let's take a look at 15 economies that have highest household debt in the world.
Source: The Economist
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15 countries that have highest household debt
Ireland
Debt as percent of GDP: 106 per cent in Q1 2013
Percentage-point change: 22 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 1
Ireland, which was hit badly by the 2008 global economic crisis, has the highest household debt in the world.
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15 countries that have highest household debt
United Kingdom
Debt as percent of GDP: 93 per cent in Q1 2013
Percentage-point change: 1 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 2
United Kingdom, one of the biggest financial centres in the world, has the second-highest household debt in the world.
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15 countries that have highest household debt
Canada
Debt as percent of GDP: 92 per cent in Q1 2013
Percentage-point change: 22 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 3
Canada, which is seeing a minerals boom, reported a 22 per cent rise in household debt.
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15 countries that have highest household debt
South Korea
Debt as percent of GDP: 86 per cent in Q1 2013
Percentage-point change: 15 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 4
South Korea, one of the most advanced countries in the world, has household debt that's 86 per cent of GDP.
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15 countries that have highest household debt
Malaysia
Debt as percent of GDP: 81 per cent in Q1 2013
Percentage-point change: 20 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 5
Malaysia, one of the fastest growing economies in the region, saw its household debt increase 20 per cent.
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15 countries that have highest household debt
United States
Debt as percent of GDP: 78 per cent in Q1 2013
Percentage-point change: Minus 13 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 6
United States, the biggest economy in the world, has one of the highest household debts in the globe.
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15 countries that have highest household debt
Thailand
Debt as percent of GDP: 68 per cent in Q1 2013
Percentage-point change: 21 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 7
Thailand, one of the fastest growing economies in the region, saw its debt increase by 21 per cent.
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15 countries that have highest household debt
Japan
Debt as percent of GDP: 66 per cent in Q1 2013
Percentage-point change: Minus 2 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 8
Japan, one of the biggest economies in the world, has debt that's 66 per cent of its GDP.
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15 countries that have highest household debt
Singapore
Debt as percent of GDP: 61 per cent in Q1 2013
Percentage-point change: 19 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 9
Singapore, one of the biggest financial centres in the world, saw debt increase by 19 per cent.
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15 countries that have highest household debt
Hong Kong
Debt as percent of GDP: 61 per cent in Q1 2013
Percentage-point change: 8 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 10
Hong Kong, one of the biggest financial centres in the world, saw debt increase by 8 per cent.
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15 countries that have highest household debt
Germany
Debt as percent of GDP: 58 per cent in Q1 2013
Percentage-point change: Minus 12 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 11
Germany, the economic powerhouse of Europe, has household debt that's 58 per cent of GDP.
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15 countries that have highest household debt
China
Debt as percent of GDP: 32 per cent in Q1 2013
Percentage-point change: 21 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 12
China, the fastest growing economy in the world, has debt that's 32 per cent of GDP.
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15 countries that have highest household debt
Indonesia
Debt as percent of GDP: 17 per cent in Q1 2013
Percentage-point change: 6 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 13
Indonesia, one of the fastest growing economies in the region, has household debt that's 17 per cent of GDP.
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15 countries that have highest household debt
Mexico
Debt as percent of GDP: 14 per cent in Q1 2013
Percentage-point change: 3 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 14
Mexico, one of the fastest growing economies in the region, has household debt that's 14 per cent of GDP.
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15 countries that have highest household debt
India
Debt as percent of GDP: 10 per cent in Q1 2013
Percentage-point change: Minus 2 per cent, from Q2 2006 to Q1 2013
Overall rank in household debt: 15
India, one of the fastest growing economies in the world, has household debt that's 10 per cent of GDP.