In fact, Canada sits eighth in the league table, which has been compiled by Citi Research.
The US, UK, India and South Africa are among the countries where the debt-GDP ratio has fallen but Canada sits between Thailand and South Korea among those where it has increased.
The figures include mortgage debt and are not adjusted to take into consideration the growth in national property markets.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
The increase in private debt compared to GDP in Canada since the financial crisis exceeds that of many developed countries.