Interest payments in Canada
Canada: Interest payments was 51.94 billion current LCU in 2024. ▼ Falling
Interest payments in Canada, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, interest payments in Canada stood at 51.94 billion current LCU. That is the highest value across all 35 years on record.
That represents a change of up 20.6% on the previous year and up 106.0% over ten years.
Over the whole period, interest payments in Canada peaked at 51.94 billion current LCU in 2024 and was at its lowest, 22.13 billion current LCU, in 2017.
Canada ranks 65th of 155 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 35 years of available data.
Interest payments in Canada, year by year
| Year | current LCU | Change |
|---|---|---|
| 1990 | 42.14 billion current LCU | — |
| 1991 | 41.31 billion current LCU | -2.0% |
| 1992 | 39.80 billion current LCU | -3.7% |
| 1993 | 39.49 billion current LCU | -0.8% |
| 1994 | 40.42 billion current LCU | +2.4% |
| 1995 | 46.58 billion current LCU | +15.2% |
| 1996 | 45.67 billion current LCU | -2.0% |
| 1997 | 43.73 billion current LCU | -4.2% |
| 1998 | 44.25 billion current LCU | +1.2% |
| 1999 | 44.03 billion current LCU | -0.5% |
| 2000 | 45.63 billion current LCU | +3.6% |
| 2001 | 42.17 billion current LCU | -7.6% |
| 2002 | 37.11 billion current LCU | -12.0% |
| 2003 | 35.53 billion current LCU | -4.3% |
| 2004 | 33.81 billion current LCU | -4.8% |
| 2005 | 32.47 billion current LCU | -4.0% |
| 2006 | 32.53 billion current LCU | +0.2% |
| 2007 | 31.93 billion current LCU | -1.8% |
| 2008 | 30.64 billion current LCU | -4.0% |
| 2009 | 27.70 billion current LCU | -9.6% |
| 2010 | 28.28 billion current LCU | +2.1% |
| 2011 | 28.87 billion current LCU | +2.1% |
| 2012 | 27.33 billion current LCU | -5.3% |
| 2013 | 27.29 billion current LCU | -0.2% |
| 2014 | 25.21 billion current LCU | -7.6% |
| 2015 | 23.81 billion current LCU | -5.6% |
| 2016 | 22.54 billion current LCU | -5.3% |
| 2017 | 22.13 billion current LCU | -1.8% |
| 2018 | 24.65 billion current LCU | +11.4% |
| 2019 | 25.82 billion current LCU | +4.8% |
| 2020 | 23.33 billion current LCU | -9.6% |
| 2021 | 25.12 billion current LCU | +7.7% |
| 2022 | 31.45 billion current LCU | +25.2% |
| 2023 | 43.07 billion current LCU | +37.0% |
| 2024 | 51.94 billion current LCU | +20.6% |
Canada compared with similar countries
- Canada's 51.94 billion current LCU is above the median for high income countries, which is 6.90 billion current LCU, 7.5× the median. (55 countries reporting)
Biggest year-on-year movements
Years where Interest payments in Canada changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2023 | +37.0% | 31.45 billion current LCU | 43.07 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 42.74 billion current LCU | 39.49 billion current LCU | 46.58 billion current LCU | 10 |
| 2000s | 34.95 billion current LCU | 27.70 billion current LCU | 45.63 billion current LCU | 10 |
| 2010s | 25.59 billion current LCU | 22.13 billion current LCU | 28.87 billion current LCU | 10 |
| 2020s | 34.98 billion current LCU | 23.33 billion current LCU | 51.94 billion current LCU | 5 |
Countries ranked near Canada
More public sector data for Canada
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Frequently asked questions
- What is interest payments in Canada?
- Interest payments in Canada was 51.94 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest interest payments recorded in Canada?
- The highest recorded value was 51.94 billion current LCU in 2024.
- What is the lowest interest payments recorded in Canada?
- The lowest recorded value was 22.13 billion current LCU in 2017.
- How does Canada rank for interest payments?
- Canada ranks 65th out of 155 countries with data for 2024.
- Is interest payments rising or falling in Canada?
- Over the last ten years it is up 106.0%. The long-run trend across the full record is falling.
- Where does this Canada data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Interest payments (current LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.