Australia Government Debt to GDP — 2026 Data & Trend
Australia's government debt was 57.88% in December 2022, down from 69.84% the previous year. A year earlier it stood at 69.84%.
Australia's government debt stands at 57.88% as of December 2022. The government debt currently sits at 57.88% (down from 69.84% in the prior year). Across the tracked window it has ranged between 11.90% and 69.84%, and is 11.95% lower than a year ago.
The trend
Among the 121 economies tracked on this platform, Australia ranks #51 on government debt by latest value. It fell from 69.84% in the previous year, and compares with a year-earlier 69.84%.
What's driving it
The debt ratio moves with budget deficits, growth, interest costs and the currency; faster nominal growth lowers it, while wide deficits push it up.
Recent readings
| Period | Government debt |
|---|---|
| Dec 2022 | 57.88% |
| Dec 2021 | 69.84% |
| Dec 2020 | 69.07% |
| Dec 2019 | 59.98% |
| Dec 2018 | 54.30% |
| Dec 2017 | 53.10% |
| Dec 2016 | 54.46% |
| Dec 2015 | 46.29% |
Data: The World Bank — World Development Indicators (CC BY 4.0) Figures carry an effective date; confirm with the source before relying on them.
Frequently asked questions
How Much Government Debt Does Australia Have in 2026?
Australia's government debt was 57.88% in December 2022, down from 69.84% the previous year. A year earlier it stood at 69.84%.
Is the government debt rising or falling in Australia?
It fell in the latest reading — 57.88% in December 2022 versus 69.84% a year earlier. Year on year it is lower.
What is government debt?
It measures total public debt expressed as a share of gross domestic product (debt-to-GDP).