Infographic: How Australia’s debt compares to the other G20 nations

Infographic: How Australia’s debt compares to the other G20 nations
Jessie RichardsonDecember 7, 2020

Australia ranks 16th out of the G20 nations for debt as a proportion of total Gross Domestic Product (GDP).

Comparison website Finder compiled a list of the 20 nations, comparing their total and national debt, proportion of debt to GDP and debt per person.

Australia, with the lowest population of any G20 nation, has $23,769 worth of debt per person. Among the G20 nations, our proportion of national debt to GDP is relatively low. Australia's total debt equals 32.6% of GDP, the fifth lowest result. Only India, Russia, Saudi Arabia and China have a lower level of debt to GDP.

On a per person basis, we rank ninth, with $23,769 of debt for each member of our 23.1 million strong population. Australia is the smallest of the G20 nations.

Japan has both the highest national debt per person and as a proportion of GDP. The country recorded $101,305 worth of debt for every person, with debt more than doubling GDP at 226.1%.

India, with a population of 1.3 billion, has the lowest per person debt, with just $783. However, its debt as a proportion of GDP ranks 10th on the list, recorded at 51.8%.

Unsurprisingly, the European Union has the highest total debt, with 28 member states contributing to the $16.8 trillion figure.

Click the infographic below to see how Australia's debt level compares, on a national and per person basis.

Tags:
Economy

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