New Zealand: Government debt

* indicates monthly or quarterly data series
 New Zealand

Government debt as percent of GDP

 Latest value 30.16
 Year 2021
 Measure percent
 Data availability 1972 - 2021
 Average 41.31
 Min - Max 16.60 - 73.29
 Source New Zealand Treasury
For that indicator, we provide data for New Zealand from 1972 to 2021. The average value for New Zealand during that period was 41.31 percent with a minimum of 16.6 percent in 2008 and a maximum of 73.29 percent in 1987. The latest value from 2021 is 30.16 percent. For comparison, the world average in 2021 based on 175 countries is 63.59 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series


Recent values chart
New Zealand - Government debt - Recent values chart

Historical chart
New Zealand - Government debt - historical chart - 1972-2021




The government debt in New Zealand and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.


 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 20.82 2022 percent
 Government spending, in dollars 51.65 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -2.70 2022 percent
 Government debt 30.16 2021 percent
 Government expenditure 21.57 Q3/2023 billion
 Long-term government bond yield 5.05 9/2023 percent
 Tax revenue 29.77 2022 percent
 Commercial tax rate 34.60 2019 percent
 Tax preparation time 140 2019 hours
 Number of taxes 7 2019 taxes
 Taxes on goods and services 27.87 2022 percent
 Taxes on international trade 2.68 2022 percent
 Income and profits taxes 58.26 2022 percent
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