Net incurrence of liabilities, total in Australia
Australia: Net incurrence of liabilities, total was 3.5% in 2022. ◆ Volatile
Net incurrence of liabilities, total in Australia, 1972–2022
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Australia recorded 3.5% for net incurrence of liabilities, total in 2022.
Compared with earlier readings it is down 46.3% on the previous year and down 1.8% over ten years.
Over the whole period, net incurrence of liabilities, total in Australia peaked at 9.0% in 2020 and was at its lowest, -2.8%, in 1998.
Australia ranks 65th of 136 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total in Australia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1972 | -1.5% | — |
| 1973 | -0.7% | -53.4% |
| 1974 | -0.6% | -13.5% |
| 1975 | 2.2% | -468.8% |
| 1976 | 2.5% | +10.6% |
| 1977 | 1.1% | -54.4% |
| 1978 | 1.6% | +41.7% |
| 1979 | 1.2% | -26.5% |
| 1980 | 0.8% | -33.0% |
| 1981 | -0.0% | -104.3% |
| 1982 | -0.5% | +1268.8% |
| 1983 | 1.8% | -486.3% |
| 1984 | 2.9% | +65.9% |
| 1985 | 2.4% | -17.8% |
| 1986 | 1.9% | -22.0% |
| 1987 | 0.8% | -59.4% |
| 1988 | -0.8% | -209.2% |
| 1989 | -2.2% | +163.8% |
| 1990 | -2.0% | -10.9% |
| 1991 | -0.5% | -76.1% |
| 1992 | 2.2% | -579.5% |
| 1993 | 3.2% | +44.7% |
| 1994 | 2.9% | -10.1% |
| 1995 | 2.3% | -19.7% |
| 1996 | 0.9% | -61.0% |
| 1997 | -0.4% | -140.5% |
| 1998 | -2.8% | +649.8% |
| 1999 | -0.8% | -69.9% |
| 2000 | -1.3% | +55.3% |
| 2005 | 0.1% | -105.8% |
| 2006 | 0.9% | +1046.1% |
| 2007 | 0.7% | -17.6% |
| 2008 | 0.2% | -74.3% |
| 2009 | 4.4% | +2291.9% |
| 2010 | 4.2% | -3.5% |
| 2011 | 3.7% | -11.6% |
| 2012 | 3.5% | -5.1% |
| 2013 | 2.6% | -25.9% |
| 2014 | 3.8% | +45.6% |
| 2015 | 3.5% | -7.7% |
| 2016 | 3.6% | +3.7% |
| 2017 | 4.7% | +30.1% |
| 2018 | 1.7% | -64.0% |
| 2019 | 0.9% | -47.7% |
| 2020 | 9.0% | +903.9% |
| 2021 | 6.5% | -28.1% |
| 2022 | 3.5% | -46.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.7% | -1.5% | 2.5% | 8 |
| 1980s | 0.7% | -2.2% | 2.9% | 10 |
| 1990s | 0.5% | -2.8% | 3.2% | 10 |
| 2000s | 0.8% | -1.3% | 4.4% | 6 |
| 2010s | 3.2% | 0.9% | 4.7% | 10 |
| 2020s | 6.3% | 3.5% | 9.0% | 3 |
Countries ranked near Australia
- 62 Central African Republic 3.6% compare
- 63 Argentina 3.6% compare
- 64 Uruguay 3.6% compare
- 66 Saint Vincent and the Grenadines 3.4% compare
- 67 Saudi Arabia 3.2% compare
- 68 Ghana 3.2% compare
More public sector data for Australia
- Arms imports 983.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 36.15 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0006 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 159.37 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 983.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 1,244 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0192 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 4.42 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 33.82 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 49.27 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in Australia?
- Net incurrence of liabilities, total in Australia was 3.5% in 2022, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Australia?
- The highest recorded value was 9.0% in 2020.
- What is the lowest net incurrence of liabilities, total recorded in Australia?
- The lowest recorded value was -2.8% in 1998.
- How does Australia rank for net incurrence of liabilities, total?
- Australia ranks 65th out of 136 countries with data for 2022.
- Is net incurrence of liabilities, total rising or falling in Australia?
- Over the last ten years it is down 1.8%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.