National Debt (% of GDP): Australia
Australia's national debt (% of gdp) is currently 50.7% as of 2026. # Australia National Debt (% of GDP) Australia's national debt stands at 50.
Current (2026)
50.7%
-0.6% y/y
Peak (2020)
57.1%
Low (2007)
9.7%
Source
IMF World Economic Outlook
1989–2026 · 42 pts
National Debt (% of GDP) — Australia
1989 — 2026
National Debt (% of GDP) — Australia
Analysis# Australia National Debt (% of GDP)
Australia's national debt stands at 50.7% of GDP in 2026, down from its pandemic-era peak of 57.1% in 2020 but substantially higher than the pre-financial crisis low of 9.7% in 2007. Since 1989, the debt-to-GDP ratio has increased 198.2%, reflecting decades of structural shifts in government finances and major economic disruptions.
The sharpest spike occurred between 2019 and 2020, when debt surged from 46.7% to 57.1%—a direct response to pandemic stimulus spending. Recovery began in 2021, with the ratio declining to 49.6% by 2023. Recent projections indicate stabilization around 50-51% through 2026, suggesting Australia has largely absorbed the fiscal impact of COVID-19 while maintaining debt levels well below the 2020 peak.
Historical Data
42 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 49.4% | -0.80% |
| 2029 | 49.8% | -0.80% |
| 2028 | 50.2% | -0.59% |
| 2027 | 50.5% | -0.39% |
| 2026 | 50.7% | -0.59% |
| 2025 | 51.0% | +0.59% |
| 2024 | 50.7% | +2.22% |
| 2023 | 49.6% | -1.20% |
| 2022 | 50.2% | -9.55% |
| 2021 | 55.5% | -2.80% |
| 2020 | 57.1% | +22.27% |
| 2019 | 46.7% | +11.72% |
| 2018 | 41.8% | +1.46% |
| 2017 | 41.2% | +1.48% |
| 2016 | 40.6% | +7.69% |
| 2015 | 37.7% | +10.88% |
| 2014 | 34.0% | +11.48% |
| 2013 | 30.5% | +10.91% |
| 2012 | 27.5% | +14.58% |
| 2011 | 24.0% | +18.23% |
Show all 42 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 20.3% | +22.29% |
| 2009 | 16.6% | +41.88% |
| 2008 | 11.7% | +20.62% |
| 2007 | 9.7% | -2.02% |
| 2006 | 9.9% | -9.17% |
| 2005 | 10.9% | -8.40% |
| 2004 | 11.9% | -9.85% |
| 2003 | 13.2% | -12.00% |
| 2002 | 15.0% | -12.28% |
| 2001 | 17.1% | -12.31% |
| 2000 | 19.5% | -13.33% |
| 1999 | 22.5% | -5.06% |
| 1998 | 23.7% | -8.49% |
| 1997 | 25.9% | -11.60% |
| 1996 | 29.3% | -5.79% |
| 1995 | 31.1% | -1.89% |
| 1994 | 31.7% | +3.26% |
| 1993 | 30.7% | +11.23% |
| 1992 | 27.6% | +27.78% |
| 1991 | 21.6% | +31.71% |
| 1990 | 16.4% | -3.53% |
| 1989 | 17.0% | — |
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