Economic relations between countries continue to affect global dynamics, with China rising as a key lender to nations around the world.
Here’s a detailed analysis of the top 20 countries owing the most to China, depending on their total external debt as of 2022:
TOP 20 COUNTRIES MOST IN DEBT TO CHINA: A BREAKDOWN
20. Argentina
Total External Debt to China (2022): $2.86 billion
Argentina, located in South America, holds the 20th position on the list, with a total external debt to China of approximately $2.86 billion.
19. Mongolia
Total External Debt to China (2022): $3.02 billion
Mongolia, an East Asian country bordering China and Russia, ranks 19th, owing China $3.02 billion.
18. Brazil
Total External Debt to China (2022): $3.38 billion
Brazil, another South American nation, occupies the 18th spot, with its total external debt to China standing at $3.38 billion.
17. Republic of the Congo
Total External Debt to China (2022): $3.42 billion
The Republic of the Congo, also known as Congo (Brazzaville), secures the 17th position, with a total debt of $3.42 billion owed to China.
16. South Africa
Total External Debt to China (2022): $3.43 billion
South Africa ranks 16th on the list, with its total external debt to China amounting to $3.43 billion.
15. Cameroon
Total External Debt to China (2022): $3.78 billion
Cameroon, situated in Central Africa, occupies the 15th position, with a debt of $3.78 billion owed to China.
14. Côte d’Ivoire
Total External Debt to China (2022): $3.85 billion
Côte d’Ivoire, located in West Africa, holds the 14th spot, owing China $3.85 billion.
13. Belarus
Total External Debt to China (2022): $3.92 billion
Belarus, situated in Eastern Europe, ranks 13th, with its debt to China totaling $3.92 billion.
12. Cambodia
Total External Debt to China (2022): $4.01 billion
Cambodia, a Southeast Asian nation with strategic trade routes, secures the 12th spot, owing China $4.01 billion.
11. Ecuador
Total External Debt to China (2022): $4.14 billion
Ecuador, renowned for its environmental diversity, occupies the 11th position, with a debt of $4.14 billion to China.
10. Nigeria
Total External Debt to China (2022): $4.29 billion
Nigeria, a West African nation, ranks 10th, with its debt to China amounting to $4.29 billion.
9. Egypt
Total External Debt to China (2022): $5.21 billion
Egypt secures the 9th position on the list, with a total external debt of $5.21 billion owed to China. The country serves as a crucial link between Northeast Africa and the Middle East.
8. Lao People’s Democratic Republic
Total External Debt to China (2022): $5.25 billion
The Lao People’s Democratic Republic, situated in Southeast Asia, ranks 8th, with a total external debt to China amounting to $5.25 billion.
7. Bangladesh
Total External Debt to China (2022): $6.05 billion
Bangladesh, a South Asian country, holds the 7th position, owing China approximately $6.05 billion as total external debt.
6. Zambia
Total External Debt to China (2022): $6.08 billion
Zambia, a landlocked country in Africa, secures the 6th spot, with its total external debt to China standing at $6.08 billion.
5. Kenya
Total External Debt to China (2022): $6.69 billion
Kenya ranks 5th on the list, with its total external debt to China amounting to $6.69 billion. The East African nation boasts a strategic location along the Indian Ocean coast, facilitating historic trade routes.
4. Ethiopia
Total External Debt to China (2022): $6.82 billion
Ethiopia secures the 4th position, owing China a total of $6.82 billion as external debt. The landlocked African nation holds strategic significance in the region.
3. Sri Lanka
Total External Debt to China (2022): $8.84 billion
Sri Lanka, an island country in the Indian Ocean, ranks 3rd, with a total external debt to China of $8.84 billion. The nation’s strategic location at maritime crossroads enhances its economic importance.
2. Angola
Total External Debt to China (2022): $20.98 billion
Angola secures the 2nd spot on the list, owing China $20.98 billion as external debt. The Southwestern African nation, with its commercial hub in Luanda, plays a vital role in regional trade.
1. Pakistan
Total External Debt to China (2022): $26.60 billion
Pakistan tops the list as the country most indebted to China, with a total external debt of $26.60 billion. Situated in South Asia and neighboring China, India, Afghanistan, and Iran, Pakistan holds strategic significance in the region.
Please note: The figures provided are based on data available as of 2022, and the rankings may vary over time.