Government bonds outstanding in Australia 2003-2023, by type
As of March 2023, the total outstanding value of debt securities issued by the Australian government amounted to almost 907 billion Australian dollars. While a seemingly large amount - and a figure that has grown more than 20-fold since 2003 - when considered in terms of the ratio between debt and GDP Australia actually has one of the lowest debt levels of any developed country in the world. As of 2020, Australia's debt to GDP ratio was less than half that of the United States, Japan, and Italy.
