German companies have exceptionally low levels of debt, equivalent to just over
50% of GDP. Even in the UK, the country with the second-lowest debt ratio,
companies have a debt burden of just over 70%. The majority of developed
countries have corporate debt levels of more than 100% of GDP.
Similarly, household debt in Germany totals just over 50% of GDP, the majority
of which (40% of GDP) is attributable to mortgages. By international standards,
German households have the third-lowest debt ratio of any industrialised nation
after Italy and Austria.
The majority of developed countries have a household
debt ratio in excess of 70% compared to their respective GDP.