The Bank for International Settlements (BIS) has released its global household debt statistics for the June quarter of 2021. 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 121% in Q2 2021, second only to Switzerland (132%):
The next chart plots the time series across the Anglosphere, with Australia’s household debt load well ahead of Canada (108%), New Zealand (98%), the United Kingdom (87%), the United States (79%), and Ireland (32%):
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