According to a 2024 survey in Australia, nearly 47 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 45 percent of respondents said they had no debt.

Key information about Australia Household Debt: % of GDP

• Australia household debt accounted for 116.6 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 118.0 % in the previous quarter.
• Australia household debt to GDP ratio is updated quarterly, available from Jun 1988 to Mar 2023.
• The data reached an all-time high of 129.4 % in Sep 2016 and a record low of 44.2 % in Sep 1988.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Australian Bureau of Statistics provides Household Debt in local currency and Nominal GDP in local currency.


Related information about Australia Household Debt: % of GDP

• In the latest reports, Australia Household Debt reached 1,957.6 USD bn in Mar 2023.
• Money Supply M2 in Australia increased 4.1 % YoY in Jun 2023.
• Australia Foreign Exchange Reserves was measured at 37.1 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 1.5 Months of Import in May 2023.
• Australia Domestic Credit reached 3,627.0 USD bn in May 2023, representing an increased of 1.9 % YoY.
• The country's Non Performing Loans Ratio stood at 0.8 % in Mar 2023, compared with the ratio of 0.8 % in the previous quarter.

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 867 Australian dollars. The BNPL debts in Australia peaked in January 2022, when users had an average BNPL debt amount of 1.78 thousand Australian dollars.

According to a survey conducted in November 2023 among Australian consumers, 48 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.

As of November 2024, the average remaining home loan balance was the highest in New South Wales, with an average outstanding balance of around 362,935 Australian dollars. In comparison, the average outstanding mortgage balance in Western Australia came to approximately 268,150 Australian dollars.

The Debt Collection industry's performance tends to improve when economic conditions are weak, as these factors can elevate business bankruptcies and cause more households to default on loans. On the other hand, a strong economy and tight lending practices can dampen debt collection agencies' performance. Households and businesses pay down debts when the economy is performing well, while tighter lending practices leads to better loans that are less likely to default.While economic conditions weakened in the COVID-19 outbreak's aftermath, the government provided businesses with assistance via stimulus measures to ensure that they could remain in operation. This factor dampened business bankruptcies during the pandemic, dulling demand for debt collection services. Long-term drops in business bankruptcies, the household debt to assets ratio and the ratio of credit card debt to discretionary income have cut into industry profit margins. Despite these trends, debt collection agencies are starting to recover. Inflationary pressures have been ramping up, and the RBA has been raising the cash rate consistently to combat this climb. Resulting rises in interest rates and the cost of borrowing have made it more likely for households and businesses to accumulate bad debt. Revenue is expected to fall at an annualised 7.1% to an estimated $1.2 billion over the five years through 2023-24. However, this trend includes an expected rise of 9.4% in 2023-24, as recovering demand for debt collection services has sparked improved performance.Debt collection agencies' performance is set to keep recovering over the next few years. Climbing interest rates will lift the ratio of interest payments to disposable income, making it more likely that downstream markets will seek out debt collection services. Agencies are also likely to improve their profit margins; many debt collectors are implementing process automation via web portals, which can improve productivity and automate communications functions like sending emails and messages. Growth opportunities are also on track to arise for debt collectors, as more companies will be outsourcing receivables management to specialists in the industry – particularly companies in the finance, insurance, banking and telecommunications sectors. Overall, revenue is forecast to climb at an annualised 1.1% to an estimated $1.3 billion over the five years through 2028-29, reflecting the industry's improved operating conditions.

Key information about Australia Debt Service Ratio: Households

• Australia Debt Service Ratio: Households was reported at 17.500 % in Sep 2024
• This records an increase from the previous number of 17.400 % for Jun 2024
• Australia Debt Service Ratio: Households data is updated quarterly, averaging 15.300 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 18.200 % in Jun 2008 and a record low of 10.000 % in Mar 1999
• Australia Debt Service Ratio: Households data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G2 Households (HH) and Non-Profit Institution Serving Households (NPISHs): Quarterly

Australia recorded a Government Debt to GDP of 43.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Australia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

National Australia Bank debt/equity ratio for the quarter ending September 30, 2024 was 2.67. National Australia Bank average debt/equity ratio for 2023 was 2.3, a 14.43% increase from 2022. National Australia Bank average debt/equity ratio for 2022 was 2.01, a 6.35% increase from 2021. National Australia Bank average debt/equity ratio for 2021 was 1.89, a 21.58% increase from 2020. Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.

Key information about Australia Private Debt: % of Nominal GDP

• Australia Private Debt accounted for 126.28 % of its Nominal GDP in Dec 2024, compared with a ratio of 125.31 % in the previous quarter
• Australia Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1990 to Dec 2024, with an average share of 109.83 %
• The data reached an all-time high of 139.33 % in Dec 2016 and a record low of 56.65 % in Mar 1990

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Lending to Personal and Non Financial Sector. The Reserve Bank of Australia provides Private Debt in local currency. The Australian Bureau of Statistics provides Nominal GDP in local currency. Private Debt prior to Q2 2003 excludes Financial Businesses.

In financial year 2023, the average debt of dairy farm businesses in Australia was around 1.45 million Australian dollars. The average debt of dairy farms steadily increased over the reported period, but 2023 showed the first real decrease in debt.

Overview

Since 2007 ABARES has conducted an annual survey of vegetable-growing farm businesses to provide industry and government with information about farm-level production and the financial situation of vegetable growers. These web-reports present estimates of farm financial performance, farm debt, farm equity, farm capital and farm investment for the vegetable-growing industry from 2006-07 to 2016-17.

Key Issues
• Average farm debt of Australian vegetable-growing farms is estimated to have increased by around 15 per cent to around $542,900 per farm in 2015-16 (in 2016-17 dollars). From 2006-07 to 2015-16 the average equity ratio of vegetable-growing farms remained strong and fluctuated around 86 per cent. The average proportion of farm receipts needed to fund interest payments is projected to have fallen to a ten-year low 2 per cent in 2016-17.

Overview
This report presents the detailed financial performance estimates of dairy farmers in 2014-15, 2015-16 and 2016-17, and discusses incomes, investment, farm debt, and costs of production in a historical context. The report draws on data from the ABARES annual Australian Dairy Industry Survey (ADIS).

This report is a collation of chapters that have been previously published online.

Farm financial performance (published 18 May 2017) This chapter presents estimates of the incomes, profits, costs and rates of return for dairy farms. Key Issues
Average farm cash income of Australian dairy farms is projected to decrease by around 18 per cent in 2016-17 to $105,000 per farm. Farm cash income in 2016-17 is projected to be an estimated 8 per cent lower than the average between 2000-01 and 2015-16 (in real terms*). The expected decrease in incomes is a result of reduced milk production per farm and lower milk receipts due to low prices.

• Note: real dollar values are adjusted to remove the effect of inflation.

Farm debt and equity (published 12 July 2017) This chapter presents estimates of the debt, equity, and debt-servicing capacity for dairy farms. Key Issues
Average farm debt of Australian dairy farms is estimate to have increased by around 2 per cent to $956,000 in 2015-16 (in 2016–17 dollars). Average dairy farm debt is projected to decrease by around 6 per cent in 2016-17. The average equity ratio of dairy farms at the national level declined from 85 per cent in 2004-05 to an estimated 79 per cent in 2015-16. The proportion of farm receipts needed to fund interest payments is projected to fall to just under 7 per cent in 2016-17.

Farm capital and investment (published 8 August 2017) This chapter presents estimates of farm capital and farm investment for dairy farms. Key Issues
The total value of capital for Australian dairy farms increased by 40 per cent in real terms from 2000-01 to 2015-16. On a per farm basis, total capital increased by 133 per cent to around $4.5 million per farm in 2015-16. The average value of land and fixed improvements per hectare for dairy farms increased by 76 per cent from 2000-01 to 2015-16, with an average annual return on land appreciation of 3.9 per cent.

Physical characteristics (published 9 November 2017) This chapter presents estimates of physical characteristics for dairy farms. Key Issues
From 2000-01 to 2015-16 the number of Australian dairy farms fell by 45 per cent. Although most of this decline was in Victoria, the largest percentage decline was in Queensland. The concentration of Australian milk production among the states has shifted considerably, with Victoria and Tasmania expanding their milk production and all other states contracting since 2000-01. Total milk production increased in Tasmania from 2000-01 to 2015-16 but decline in all other states.

Overview This report presents the detailed financial performance of dairy farms from 2013-14 to 2015-16. It includes analysis of changes in farm performance, investment and debt by farm size to …Show full descriptionOverview This report presents the detailed financial performance of dairy farms from 2013-14 to 2015-16. It includes analysis of changes in farm performance, investment and debt by farm size to highlight variations in performance across the dairy industry. The analysis in the report is mainly based on data collected in 2015-16 from the Australian Dairy Industry Survey (ADIS) conducted between July and November 2015 and funded by the Department of Agriculture and Water Resources. Key Issues • At the national level, average farm cash income of dairy farms declined from around $156 000 in 2014-15 to an estimated $101 000 in 2015-16 as a result of lower farmgate milk prices and a slight reduction in milk production per farm. • The average farm gate milk price is estimated to fall in 2015-16 to around 43 cents a litre, following a step-down in milk payments to dairy farmers by major processors, particularly in Victoria, Tasmania, South Australia and southern New South Wales. • In 2015-16 average farm incomes are estimated to have declined in all dairy regions except Western Australia. • In 2015-16 an estimated 73 per cent of dairy farms received a milk price that covered at least the cash costs of production. • An average 28 per cent of dairy farms received a price for milk that covered all costs of production (including all cash costs, finance costs, depreciation and unpaid labour) in 2015-16, while 21 per cent of farms received a price that covered cash costs of production, finance costs and depreciation but excluding labour. • Since deregulation of the dairy industry in 2000, the number of dairy farms in Australia has fallen by around 47 per cent. This fall has been concentrated among farms with less than $3 million in total capital value (in 2015-16 dollars). The number of farms with more than $3 million in total capital has increased since 2000. • Average dairy farm debt increased from $346 000 in 1999-2000 to $861 500 in 2014-15 in real terms. Increased borrowing by individual farms for land purchases or new on-farm infrastructure and equipment contributed to the increase in average debt.

Overview The results presented in this report cover trends in farm financial performance of Australian dairy farms up to and including the 2013-14 financial year. The report includes analysis of …Show full descriptionOverview The results presented in this report cover trends in farm financial performance of Australian dairy farms up to and including the 2013-14 financial year. The report includes analysis of changes in farm financial performance, debt and equity. More detailed analysis by farm size highlights differences in farm physical and financial performance across the industry. Key Issues • In 2013-14, average farm cash incomes are estimated to have rebounded strongly from the lows of the previous year with large increases in milk prices for dairy farmers in southern New South Wales, South Australia, Victoria and Tasmania, and smaller increases for producers in other states and regions. As a consequence, average farm cash income of Australian dairy farms is estimated to have increased to $129 000 in 2013-14, around 29 per cent above the 10-year average to 2012-13. • Over the 10 years to 2013-14 the average rate of return to capital (excluding capital appreciation for Australian dairy farms was 2.1 per cent. The average rate of return (excluding capital appreciation) declined in 2012-13 to an estimated 0.9 per cent as farm incomes fell, then increased to 3.1 per cent in 2013-14. • In 2012-13 average farm debt rose by around 9 per cent as a result of increased working capital debt that was largely used to purchase fodder because of dry seasonal conditions. Higher farm incomes and improved seasonal conditions in 2013-14 meant there was reduced need for working capital and many farmers reduced this component of their debt.

In financial year 2023, the average debt of beef farm businesses in Australia was around 440 thousand Australian dollars. The average debt of beef farms ranged between 490 to 570 thousand Australian dollars over the reported period.

Key information about Australia Foreign Portfolio Investment: Debt Securities

• Australia Foreign Portfolio Investment: Debt Securities increased by 32.155 USD bn in Dec 2024, compared with an increase of 33.303 USD bn in the previous quarter.
• Australia Foreign Portfolio Investment: Debt Securities data is updated quarterly, available from Sep 1988 to Dec 2024.
• The data reached an all-time high of 50.059 USD bn in Dec 2009 and a record low of -37.440 USD bn in Mar 2020.

CEIC converts quarterly Foreign Portfolio Investment: Debt Securities into USD. The Australian Bureau of Statistics provides quarterly Foreign Portfolio Investment: Debt Securities in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Australia Residential Mortgages: ADIs: Credit Outstanding data was reported at 2,288,546.400 AUD mn in Sep 2024. This records an increase from the previous number of 2,262,093.500 AUD mn for Jun 2024. Australia Residential Mortgages: ADIs: Credit Outstanding data is updated quarterly, averaging 2,000,551.000 AUD mn from Mar 2019 (Median) to Sep 2024, with 23 observations. The data reached an all-time high of 2,288,546.400 AUD mn in Sep 2024 and a record low of 1,790,106.800 AUD mn in Mar 2019. Australia Residential Mortgages: ADIs: Credit Outstanding data remains active status in CEIC and is reported by Australian Prudential Regulation Authority. The data is categorized under Global Database’s Australia – Table AU.KB024: Residential Mortgage: Credit Outstanding.

Key information about Australia Non Performing Loans Ratio

• Australia Non Performing Loans Ratio stood at 1.1 % in Dec 2024, compared with the ratio of 1.1 % in the previous quarter
• Australia Non Performing Loans Ratio data is updated quarterly, available from Jun 2004 to Dec 2024
• The data reached an all-time high of 2.2 % in Jun 2010 and a record low of 0.5 % in Dec 2007

CEIC calculates quarterly Non Performing Loans Ratio from quarterly Non Performing Loans and quarterly Total Loans. Australian Prudential Regulation Authority provides Non Performing Loans and Total Loans. Non Performing Loans Ratio prior to Q1 2022 is calculated from the sum of the Impaired Assets and those Past Due Items that are overdue for 90 days or more.


Further information about Australia Non Performing Loans Ratio

• In the latest reports, Money Supply M2 in Australia increased 5.3 % YoY in Jan 2025
• Australia Foreign Exchange Reserves was measured at 41.9 USD bn in Feb 2025
• The Foreign Exchange Reserves equaled 1.5 Months of Import in May 2023
• The country's Domestic Credit reached 3,589.5 USD bn in Jan 2025, representing an increased of 2.7 % YoY
• Household Debt of Australia reached 2,206.9 USD bn in Sep 2024, accounting for 116.6 % of the country's Nominal GDP

Overview \r Since 2007 ABARES has conducted an annual survey of vegetable-growing farm businesses to provide industry and government with information about farm-level production and the financial situation of vegetable growers. This web-report present estimates of farm financial performance, farm debt, equity, capital, investment and physical characteristics for the vegetable-growing industry from 2006-07 to 2017-18. \r \r Key Issues \r • In 2017-18 average farm cash income of Australian vegetable-growing farms is estimated to have increased by 12 per cent to $319,000 per farm, the highest in real terms* since ABARES began surveying vegetable-growing farms in 2007. Average farm cash income is estimated to have increased in all states except Queensland and Western Australia. \r • The average rate of return (excluding capital appreciation) of Australian vegetable-growing farms is estimated to have increased to 5.9 per cent in 2017-18, following an average return of 4.9 per cent in 2016-17. \r • Average debt of Australian vegetable-growing farms decreased by 20 per cent to around $438,000 per farm in 2016-17, mainly because of reduced working capital debt. With reductions in average farm debt the proportion of farm receipts needed to fund interest payments remains low at around 2 per cent. Around one-quarter of vegetable-growing farms held no debt in 2016-17. \r • The total value of capital for all Australian vegetable-growing farms decreased by 15 per cent in real terms from 2006-07 to 2016-17 because of a reduction in the number of vegetable-growing farms. From 2006-07 to 2016-17 the total number of Australian vegetable-growing farms fell by 31 per cent. Most of the decline was largely a result of a decline in the number of small vegetable-growing farms planting less than 20 ha. \r • Australian vegetable growers made an average of $280 million in new capital investment each year from 2006-07 to 2015-16, in real terms. In 2016-17 vegetable growers made a total of $319 million in new investment, with around half of vegetable-growing farms made capital additions. \r * Note: real dollar values are adjusted to remove the effect of inflation. \r