The Bank for International Settlements (BIS) has released its global household debt statistics for the September quarter of 2020. This data shows that Australia still has the second highest stock of household debt in the world when measured against the size of its economy, as measured by Gross Domestic Product (GDP).
As shown in the table below, Australia’s household debt-to-GDP ratio was 123% in Q3 2020, second only to Switzerland (131%):