Aussie households saddled with second highest debt

Tuesday 9 June 2020

The Bank for International Settlements (BIS) has released its global household debt data for the December quarter, which again ranked Australians as the second most indebted in the world.

The next table summarises the ratios of household debt to GDP:

As you can see, Switzerland (132%) takes the gold medal in the global household debt stakes, with Australia taking silver (120%) and Denmark (112%) the bronze medal.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.