This report analyses the ratio of credit card debt to discretionary income and is measured as a percentage of discretionary income. The ratio includes debts that are accruing interest and debts that are not accruing interest, on credit and charge cards. Credit card debt data for this report is sourced from the Reserve Bank of Australia (RBA), while discretionary income is sourced from the Australian Bureau of Statistics.

Key information about Australia Household Debt: % of GDP

• Australia household debt accounted for 120.3 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 119.3 % in the previous quarter.
• Australia household debt to GDP ratio is updated quarterly, available from Jun 1988 to Jun 2025.
• The data reached an all-time high of 1,696.5 % in Dec 2023 and a record low of 72.3 % in Dec 2005.

• In the latest reports, Australia Household Debt reached 2,192.2 USD bn in Jun 2025.
• Money Supply M2 in Australia increased 7.1 % YoY in Oct 2025.
• Australia Foreign Exchange Reserves was measured at 41.4 USD bn in Oct 2025.
• The Foreign Exchange Reserves equaled 1.5 Months of Import in Sep 2025.
• Australia Domestic Credit reached 3,883.6 USD bn in Sep 2025, representing an increased of 3.6 % YoY.
• The country's Non Performing Loans Ratio stood at 1.2 % in Jun 2025, compared with the ratio of 1.2 % in the previous quarter.

The Credit Card Issuance industry has contracted as the number of cards issued and balances accruing interest have fallen. Issuers have faced significant competition from other forms of payment like debit cards and BNPL services. The monthly value of debit card transactions has continued to surpass the monthly value of credit card transactions thanks to initiatives like the Reserve Bank of Australia's (RBA) least-cost routing initiative. BNPL services have also gained popularity with younger consumers who constitute a significant market for online sellers. That's why revenue is set to weaken by an annualised 5.3% over the five years through 2024-25, to $7.6 billion. To compete with sophisticated competition, credit card issuers have beefed up their reward and referral programs and integrated online payment, service and customer acquisition platforms into their operations. The Big Four banks dominate the industry and NAB's acquisition of Citigroup's Australian consumer banking business has expanded its collective market share. Economic conditions tied to inflationary pressures have ravaged consumer sentiment and appetites for spending through credit. Some customers have opted to pay down debt instead and have avoided taking on more. A sharp climb in interest rates over the past few years has compounded this dynamic, which is set to constrain industry performance in 2024-25, with revenue declining by an anticipated 0.9%. Credit card issuers' performance will improve over the coming years as economic conditions recover. Credit card issuance revenue is projected to expand at an annualised 2.0% through the end of 2029-30, to total $8.4 billion. The RBA is forecast to slash the cash rate once inflation falls within the central banks' target band, lifting credit card issuer profit margins as funding costs drop. Alternative payment methods, like BNPL services, debit transactions and other fintech solutions, are on track to sap away demand for credit cards. However, easing inflationary pressures and lower interest rates over the medium term are set to spur household consumption expenditure and credit card use. In response to the fierce competition, issuers will emphasise innovation and enhance their rewards and points systems to entice consumers.

According to a 2024 survey in Australia, nearly ** percent of Gen Z respondents had no debt at all. The generation with the second-highest share of respondents with no debt was the Baby Boomer generation, in which nearly ** percent of respondents said they had no debt.

According to a survey conducted in November 2023 among Australian consumers, ** percent of respondents accumulated debt in the form of credit cards. According to the source, 2023 Buy Now, Pay Later (BNPL) services became the second most common form of personal debt in Australia.  Personal debt on the rise According to a survey, the average value of personal debt (excluding home loans) across all generations in Australia had increased between 2020 and 2021. While this is unlikely only attributed to the accessibility of BNPL services, some financial advisors have voiced their concerns about the overuse of such services. In a recent survey among financial advisors, most respondents stated that among their clients with BNPL debt, the majority were struggling to pay living expenses. Buy Now, Pay Later services Buy Now, Pay Later services are widely available across Australia. As the name implies, consumers can purchase a product immediately using a credit service, while paying off the purchase amount in pre-agreed installments. Little to no fees are charged unless the installment payments are not made as agreed. A quarter of Australians who shop online have used this form of payment on clothing or accessory purchases. Afterpay, Zip, and Latitude Pay were all commonly known BNPL services in the country. It is not uncommon for consumers to have multiple BNPL accounts, largely because a particular store did not offer an existing service provider.

Key information about Australia Household Debt

• Australia Household Debt reached 2,192.2 USD bn in Jun 2025, compared with the reported number of 2,042.2 USD bn in the previous quarter
• Australia Household Debt: USD mn data is updated quarterly, available from Jun 1988 to Jun 2025
• The data reached an all-time high of 2,205.0 USD bn in Sep 2024 and a record low of 114.4 USD bn in Jun 1988

• In the latest reports, Australia Household Debt accounted for 120.3 % of the country's Nominal GDP in Jun 2025
• Money Supply M2 in Australia increased 2,176.4 USD bn YoY in Oct 2025
• Australia Foreign Exchange Reserves was measured at 41.4 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 1.5 Months of Import in Sep 2025
• Australia Domestic Credit reached 3,883.6 USD bn in Sep 2025, representing an increased of 3.6 % YoY

Australia Gross External Debt: General Government: Long Term: Trade Credit and Advances data was reported at 0.000 USD mn in Dec 2024. This stayed constant from the previous number of 0.000 USD mn for Sep 2024. Australia Gross External Debt: General Government: Long Term: Trade Credit and Advances data is updated quarterly, averaging 0.000 USD mn from Dec 2003 (Median) to Dec 2024, with 85 observations. The data reached an all-time high of 7.960 USD mn in Dec 2016 and a record low of 0.000 USD mn in Dec 2024. Australia Gross External Debt: General Government: Long Term: Trade Credit and Advances data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.QEDS: Gross External Debt: by Sector and Instrument.

In fiscal year 2020, around 74.6 percent of households in Australia had some form of debt, including mortgages, investment loans, credit card debt, borrowings from other households and other personal and study loans.

Consumer Credit in Australia increased to 2452.79 AUD Billion in October from 2438.66 AUD Billion in September of 2025. This dataset provides the latest reported value for - Australia Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

According to a 2024 survey on buy now pay later (BNPL) services, the average amount of debt BNPL users carried in Australia as of July 2024 stood at approximately *** Australian dollars. The BNPL debts in Australia peaked in January 2022, when users had an average BNPL debt amount of **** thousand Australian dollars.

Graph and download economic data for Outstanding International Public Debt Securities to GDP for Australia (DDDM06AUA156NWDB) from 1980 to 2020 about public, Australia, debt, securities, and GDP.

Graph and download economic data for Gross Portfolio Debt Liabilities to GDP for Australia (DDDM10AUA156NWDB) from 1999 to 2020 about Australia, liabilities, debt, gross, and GDP.

These data are derived from returns submitted to the Australian Prudential Regulation Authority (APRA) by banks authorised under the Banking Act 1959. APRA assumed responsibility for the supervision and regulation of banks on 1 July 1998. Data prior to that date were submitted to the RBA.

Up to and including June 2000, data are averages of weekly (Wednesday) figures. From July 2000, data are for the last business day of every month. Up to and including March 2002, banks submitted Form D (Statement of Liabilities and Assets on the Australian Books). In March 2002, APRA implemented new reporting forms for banks. The data, dating from April 2002, are derived from ARF 320.0 Statement of Financial Position (Domestic Books).

ARF 320.0 covers the domestic books of the licensed bank and is an unconsolidated report of the Australian bank’s operations/transactions that are booked or recorded inside Australia (with Australian residents and non-residents). ARF 320.0 does not consolidate Australian and offshore-controlled entities (thus offshore branches of the Australian bank are excluded). ARF 320.0 includes transactions of Australian-based offshore banking units of the licensed ADI but excludes transactions of overseas-based offshore banking units.

An Australian ‘resident’ is any individual, business or other organisation domiciled in Australia. Australian branches and subsidiaries of foreign businesses are regarded as Australian residents. A ‘non-resident’ is any individual, business or other organisation domiciled overseas. Foreign branches and subsidiaries of Australian businesses are regarded as non-residents.

‘Resident assets – notes and coins, and deposits due from RBA’ includes: Australian and foreign currency notes and coins; settlement account balances with the RBA and any other central bank; and any other funds held at the RBA.

‘Resident assets – bills receivables’ refers to assets arising from undertakings by customers to pay bills of exchange drawn by the banks. From April 2002, this item includes Australian dollar- and foreign currency-denominated (AUD equivalent) bill receivables. Prior to that date, foreign currency-denominated (AUD equivalent) bill receivables are included in ‘resident assets – other assets’.

‘Resident assets – loans and advances – residential’ include: owner-occupied and investment housing loans. ‘Resident assets – loans and advances – personal’ include: revolving credit; credit cards; personal lease financing; and other personal term loans. ‘Resident assets – loans and advances – commercial’ include: loans to community service organisations and non-profit institutions; loans to non-financial corporations; loans to general government; and loans to financial corporations. The loans and advances data are net of specific provisions for bad and doubtful debts, but gross of general provisions for bad and doubtful debts. Loans and advances exclude: bills of exchange, commercial paper, promissory notes, certificates of deposit, and some other debt securities. From April 2002, loans and advances refer to Australian dollar- and foreign currency-denominated (AUD equivalent) loans and advances. Prior to that date, foreign currency-denominated (AUD equivalent) loans and advances are included in ‘resident assets – other assets’.

‘Resident assets – other assets’ refers to all other resident assets not included in the above items. Prior to April 2002, this item includes: shares; bullion; past-due bills; accounts receivable; prepayments made; public sector securities; and all other resident assets other than accrued interest not yet receivable and intangible assets. From April 2002, this item includes: cash and liquid assets other than notes and coins and deposits due from RBA; trading and investment securities; fixed assets; intangible assets; other investments and all other assets not reported above. Note that, from April 2002, this item also includes unrealised gains on trading derivatives – prior to that date, these were excluded.

‘Resident assets – total’ refers to total assets on the Australian books of banks that are due from residents, and is the sum of the above items. ‘Resident assets – of which: denominated in foreign currency’ refers to the Australian dollar equivalent of ‘resident assets – total’ on the Australian books of banks that are denominated in foreign currency.

‘Non-resident assets – total’ refers to total assets on the Australian books of banks that are due from non-residents, though from April 2002, this series excludes the total amount due from banks’ overseas operations, which have been separately identified on the new reporting form. ‘Non-resident assets – of which: denominated in foreign currency’ refers to the Australian dollar equivalent of ‘non-resident assets – total’ on the Australian books of banks that are denominated in foreign currency.

‘Total assets’ is the sum of ‘resident assets – total’ and ‘non-resident assets – total’. From April 2002, this item also includes the ‘amount due from overseas operations’, which is identified separately from ‘resident assets – total’ and ‘non-resident assets – total’. The ‘amount due from overseas operations’ refers to domestic book on-balance sheet assets due from overseas operations of banks which have not been included in the above items.

In fiscal year 2018, around 75.7 percent of households in Western Australia had some form of debt, including mortgages, investment loans, credit card debt, borrowings from other households and other personal and study loans.

Credit unions became authorised deposit-taking institutions (ADIs) under the Banking Act 1959 on 1 July 1999 when responsibility for their prudential regulation shifted from the States and Territories to the Australian Prudential Regulation Authority (APRA). Since 1 July 1999, credit unions have submitted monthly returns to APRA; prior to that date, they submitted returns to the Reserve Bank under the Financial Corporations Act 1974. In September 2001, APRA implemented new reporting forms for credit unions. From October 2001, data are derived from ARF 323.0: Statement of Financial Position (Licensed ADI). Since December 1999, series have only included data for credit unions with total assets greater than or equal to $50 million.

Selected assets:

‘Cash and liquid assets’ is composed of ‘Cash’, ‘Balances with ADIs’ and ‘Other’. None of these items include bills of exchange, bills receivable, remittances in transit or certificates of deposit.

‘Cash’ includes Australian and foreign currency notes and coins, gold coin, gold bullion, and gold certificates held as investments. It excludes loans repayable in gold bullion.

‘Balances with ADIs’ includes deposits at call with Australian resident banks and other ADIs and settlement account balances due from banks and other ADIs, incorporating receivables for unsettled sales of securities.

‘Other’ includes deposits at call with Registered Financial Corporations (RFCs) and other financial institutions, net claims on recognised clearing houses in Australia, securities purchased under agreements to resell, funds held with the Reserve Bank and other central banks, and settlement account balances due from the Reserve Bank, other central banks, RFCs and other financial institutions, incorporating receivables for unsettled sales of securities.

‘Government securities’, ‘ADI securities’, ‘Corporate paper’ and ‘Other securities’ include both trading and investment securities. Trading securities are recorded at net fair value. Investment securities are recorded at cost and adjusted for the amortisation of any premiums and discounts on purchase over the period of maturity.

‘Government securities’ include securities issued by the Australian, State, Territory and local governments and State and Territory central borrowing authority (CBA) securities.

‘ADI securities’ includes securities issued by banks and other ADIs, but not equity investments in parent, controlled or associated entities.

‘Other securities’ includes asset-backed securities, other debt securities and equity securities, other than those issued by ADIs, but not equity investments in parent, controlled or associated entities.

‘Residential’ includes both owner-occupied and investment housing loans to Australian households, net of specific provisions for doubtful debts.

‘Personal’ includes revolving credit for a purpose other than housing, credit card liabilities, lease financing net of unearned revenue, and other personal term loans to Australian households net of specific provisions for doubtful debts.

‘Commercial’ includes loans to public non-financial corporations, private trading corporations, private unincorporated businesses, community service organisations, Australian, State, Territory and local governments, ADIs and other financial institutions, net of specific provisions for doubtful debts. Loans to ADIs and other financial institutions includes loans to the Reserve Bank and other central banks, banks, other ADIs, RFCs, central borrowing authorities, fund managers, stockbrokers, insurance brokers, securitisers, mortgage, fixed interest and equity unit trusts and other financial intermediaries.

Selected Liabilities:

‘Borrowings from ADIs’ includes settlement account balances due to ADIs and both variable and fixed interest rate short-term loans from ADIs. A loan is reported as short-term if its residual term to maturity is one year or less.

‘Deposits’ includes retail transaction call deposit accounts held by households, all other transaction call deposit accounts held by entities other than households, deposits from resident banks, resident non-bank financial institutions and intermediaries such as merchant banks, vostro balances from banks and non-bank financial institutions (NBFIs), the Australian-dollar equivalent of foreign currency deposits, deposits from controlled and associated entities, retail non-transaction call deposit accounts held by households, all other non-transaction deposit call accounts held by entities other than households, term deposits, certificates of deposit and other forms of deposits.

‘Other’ liabilities includes settlement account balances due to RFCs and other financial institutions, securities sold under agreements to repurchase, promissory notes or commercial paper with a residual term to maturity of one year or less, other debt securities with a residual term of one year or less, variable interest rate short-term loans from counterparties other than ADIs, fixed interest rate short-term loans from counterparties other than ADIs, debt securities with a residual term to maturity of more than one year, variable and fixed interest rate loans and borrowings from Australian residents with a residual term to maturity of more than one year, interest accrued but not yet paid, interest received but not yet earned, unrealised losses on trading derivatives, items in suspense and other liabilities not separately identified above. A loan is reported as short-term if its residual term to maturity is one year or less. ‘Other’ liabilities do not include amounts due to clearing houses.

Short-Term-Debt Time Series for Coles Group Ltd. Coles Group Limited operates as a retailer in Australia. It operates through Supermarkets and Liquor segments. The company operates various supermarkets, which offers fresh food, groceries, general merchandise, and liquor; and coles.com.au, which offers a choice of home delivery, including same-day, overnight drop and go services, and pick up from click and collect locations. Its Coles Financial Services provides insurance, credit cards, and personal loans to Australian families. The company is also involved in the retailing of liquor through its various stores under the Liquorland, First Choice Liquor Market, and Vintage Cellars brand names, as well as retail media services through its store network and online platforms. In addition, it operates as flybuys loyalty program. The company was formerly known as Coles Myer Ltd. and changed its name to Coles Group Limited in November 2006. Coles Group Limited was founded in 1914 and is based in Hawthorn East, Australia.

Australia Gross External Debt: General Government: Short Term: Trade Credit and Advances data was reported at 3.730 USD mn in Dec 2024. This records an increase from the previous number of 3.466 USD mn for Sep 2024. Australia Gross External Debt: General Government: Short Term: Trade Credit and Advances data is updated quarterly, averaging 0.000 USD mn from Dec 2003 (Median) to Dec 2024, with 85 observations. The data reached an all-time high of 11.403 USD mn in Mar 2021 and a record low of 0.000 USD mn in Dec 2016. Australia Gross External Debt: General Government: Short Term: Trade Credit and Advances data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.QEDS: Gross External Debt: by Sector and Instrument.

In 2024, the value of the lending to households in Switzerland as a share of its gross domestic product (GDP) was higher than in any of the countries selected here. Australian, Canadian, and South Korean households had an amount of credit which was higher than the overall size of their economy. That year, household lending in Argentina amounted to *** percent of its GDP, which was the lowest figure in the ranking. What is the household debt? Household debt, also known as family debt, includes loans taken to pay for the home or other property, education, vehicles, and other expenses. The largest component of this is mortgage debt, which is seen by many as a way to build long-term equity. As such, households are willing to take on a large amount of this debt with the goal of owning an asset that holds value and can be used as a residence in the meantime. The cost of debt The cost of a loan depends on a number of factors such as the interest rate, borrower’s credit risk or time period of a loan. The value of mortgage and the rate of return on assets such as real estate also depend largely on geographic location. The highest borrowers in this statistic are likely living in countries where credit is affordable and expected returns are relatively high, incentivizing heavy borrowing.

Australia Gross External Debt: Other Sectors: Households and NPISH: Short Term: Trade Credit and Advances data was reported at 0.000 USD mn in Dec 2005. This stayed constant from the previous number of 0.000 USD mn for Sep 2005. Australia Gross External Debt: Other Sectors: Households and NPISH: Short Term: Trade Credit and Advances data is updated quarterly, averaging 0.000 USD mn from Dec 2003 (Median) to Dec 2005, with 9 observations. The data reached an all-time high of 0.000 USD mn in Dec 2005 and a record low of 0.000 USD mn in Dec 2005. Australia Gross External Debt: Other Sectors: Households and NPISH: Short Term: Trade Credit and Advances data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.QEDS: Gross External Debt: by Sector and Instrument.

Australia Gross External Debt: Deposit Taking Corporations excl Central Bank: Long Term: Trade Credit and Advances data was reported at 0.000 USD mn in Dec 2024. This stayed constant from the previous number of 0.000 USD mn for Sep 2024. Australia Gross External Debt: Deposit Taking Corporations excl Central Bank: Long Term: Trade Credit and Advances data is updated quarterly, averaging 0.000 USD mn from Dec 2003 (Median) to Dec 2024, with 85 observations. The data reached an all-time high of 0.000 USD mn in Dec 2024 and a record low of 0.000 USD mn in Dec 2024. Australia Gross External Debt: Deposit Taking Corporations excl Central Bank: Long Term: Trade Credit and Advances data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.QEDS: Gross External Debt: by Sector and Instrument.