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20 Countries with the Highest Debt to the United States in 2025
1. Japan – Over $1.3 Trillion Owed
Japan continues to hold the largest amount of debt to the United States among foreign nations, with a debt exceeding $1.3 trillion. This substantial figure reflects decades of economic interdependence and investment in American bonds, highlighting Japan’s role as a key financial partner to the U.S.
2. China – Nearly $1 Trillion in Debt
China’s holdings of U.S. debt have slightly declined but remain significant, with an estimated $950 billion. While there has been some diversification in China’s foreign reserves, their continued investment in American debt underscores the complex economic ties between the two superpowers.
3. United Kingdom – Over $300 Billion Owed
The UK’s investment in U.S. Treasury securities surpassed $300 billion in 2025. As a longstanding ally and trade partner, the UK’s investments serve both as a strategic financial move and a reflection of strong transatlantic economic cooperation.
4. Ireland – $250 Billion in U.S. Debt
Ireland, known for its robust banking sector and corporate investments, continues to be a significant holder of U.S. debt. Their holdings stand at approximately $250 billion, emphasizing Ireland’s position as a key conduit for global financial flows.
5. Luxembourg – $200 Billion
Luxembourg remains a major investor in U.S. government securities, with holdings around $200 billion. Its status as a global investment hub has contributed heavily to this considerable debt position, often through sovereign wealth funds and investment vehicles.
6. Brazil – $180 Billion
Brazil has been steadily increasing its holdings, reaching over $180 billion in U.S. debt by 2025. This move reflects Brazil’s efforts to diversify its reserves amidst regional economic fluctuations, while maintaining economic stability.
7. Switzerland – Over $160 Billion
Switzerland’s traditional role as a banking and financial hub is reflected in its U.S. debt holdings of over $160 billion. Swiss banks often invest heavily in safe assets like U.S. Treasuries, further solidifying this relationship.
8. Hong Kong – $150 Billion
Despite recent political tensions, Hong Kong retains a significant stake in U.S. debt, with holdings estimated at around $150 billion. Its position as a major global financial center keeps its investments in U.S. securities robust.
9. Singapore – $130 Billion
Singapore, known for its strategic financial services sector, holds approximately $130 billion in U.S. debt. The nation’s investments are part of its broader strategy to diversify reserves and ensure financial stability.
10. Belgium – $120 Billion
Belgium, often acting as a conduit for global financial flows, holds around $120 billion in U.S. securities. This supports Belgium’s role as a key global banking and investment hub.
11. United Arab Emirates – $110 Billion
UAE’s investments in U.S. debt have increased, reaching about $110 billion, reflecting their growing economic diversification plans and investment interests.
12. India – $100 Billion
India’s holdings are on the rise, standing at roughly $100 billion in U.S. debt. This highlights India’s increasing financial cooperation with the U.S. amid rising economic growth.
13. South Korea – $95 Billion
South Korea’s investments in American bonds total around $95 billion, serving as a strategic reserve to support global economic stability.
14. France – $90 Billion
France maintains a longstanding relationship with U.S. debt markets, holding approximately $90 billion worth of securities, supporting its position as a key European investor.
15. Germany – $85 Billion
Germany’s investments in U.S. Treasury notes amount to about $85 billion, reflecting its role as Europe’s largest economy and a major global investor.
16. Canada – $80 Billion
Canada, sharing the world’s longest international border with the U.S., holds around $80 billion in American debt, emphasizing close economic and financial ties.
17. Norway – $75 Billion
Norway continues to diversify its reserves with U.S. securities, holding roughly $75 billion, driven by its sovereign wealth fund’s strategic investments.
18. Australia – $70 Billion
Australian investors have increased their holdings to about $70 billion, reflecting confidence in U.S. financial stability.
19. South Africa – $65 Billion
South Africa’s U.S. debt holdings have grown to approximately $65 billion, supported by efforts to stabilize and diversify its reserves.
20. Mexico – Over $60 Billion
Mexico remains a key U.S. trading partner with holdings exceeding $60 billion in U.S. securities, supporting mutual economic stability.
Key Insights on 2025 Global Debt to the U.S.
The landscape of international holdings of U.S. debt continues to evolve in 2025, driven by geopolitical shifts, economic strategies, and the pursuit of financial stability. Countries like Japan and China remain the top creditors, though their holdings have seen adjustments over the past few years. Meanwhile, emerging economies like India and South Africa are increasing their investments, signaling a diversification trend.
The United States’ status as the world’s leading issuer of debt remains unchallenged, with foreign nations viewing U.S. Treasuries as a safe haven amidst global economic uncertainties. However, rising geopolitical tensions and economic policies are likely to shape the foreign debt landscape further in the coming years.
As these countries continue to hold hundreds of billions of dollars in U.S. securities, their financial health is intricately linked with the stability of the American economy. This interdependence underscores both nations’ mutual reliance and potential vulnerabilities in times of global market upheaval.
Note: All figures are estimates based on the latest available data in 2025 and are subject to change due to market fluctuations and government disclosures.
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