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The ratio of national debt to gross domestic product (GDP) of Australia was 51.04 percent in 2025. Between 1989 and 2025, the ratio rose by 34.05 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. The ratio is forecast to decline by 1.92 percentage points from 2025 to 2031, fluctuating as it trends downward.

The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.