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1301.0 - Year Book Australia, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003   
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Contents >> International Accounts and Trade >> International accounts - Foreign debt

Foreign debt is a subset of the financial obligations that comprise a country's international investment position. It includes all the non-equity components of the net international investment position, that is, all recorded assets and liabilities other than equity securities and direct investment equity capital, including reinvested earnings.

The level of borrowing and other non-equity liabilities of Australian residents at a particular date make up Australia's foreign debt liabilities. The level of Australian lending abroad and other non-equity assets at the same date are deducted from the level of borrowing to arrive at Australia's net foreign debt.

The level of net foreign debt at 30 June 2002 was $329.8b, up $16.3b (5.2%) on 30 June 2001. The increase during 2001-02 resulted from net financial transactions of $35.3b, price changes of -$3.8b, exchange rate changes of -$14.2b and other adjustments of -$1.1b (table 30.13).

At 30 June 2002, the net foreign debt of the public sector (general government plus public financial and non-financial corporations) was $12.1b, which accounted for 3.7% of total net foreign debt. Net foreign debt levels of private financial corporations and private non-financial corporations were $251.7b (76.3% of total net foreign debt) and $66b (20.0%) respectively (table 30.13).


30.13 LEVELS OF FOREIGN DEBT - At 30 June

1997
1998
1999
2000
2001
2002
$m
$m
$m
$m
$m
$m

Foreign debt assets(a)
-94,218
-119,189
-129,150
-143,967
-185,304
-193,891
Public sector
-31,048
-41,329
-40,770
-44,876
-63,350
-56,220
General government
-2,836
-8,095
-9,378
-9,219
-10,338
-10,869
Financial corporations
-26,853
-32,196
-30,470
-35,263
-46,069
-42,851
Reserve Bank
-22,164
-23,998
-22,883
-27,184
-36,958
-35,053
Central borrowing authorities
-8
-179
-385
-1,090
-1,426
-954
Other financial corporations
-4,681
-8,019
-7,203
-6,990
-7,685
-6,845
Non-financial corporations
-1,359
-1,037
-922
-393
-6,943
-2,499
Private sector
-63,170
-77,860
-88,380
-99,091
-121,953
-137,672
Financial corporations
-45,619
-58,762
-66,328
-75,444
-92,788
-107,601
Non-financial corporations
-17,552
-19,098
-22,052
-23,647
-29,166
-30,071
Foreign debt liabilities(a)
302,846
346,971
359,839
421,771
498,775
523,654
Public sector
96,278
86,721
75,279
63,445
68,950
68,366
General government
42,549
38,463
32,373
22,872
24,100
25,066
Financial corporations
48,213
41,392
37,284
34,001
32,343
29,604
Reserve Bank
72
48
40
34
49
43
Central borrowing authorities
40,203
36,571
32,772
29,060
27,622
25,515
Other financial corporations
7,938
4,774
4,473
4,907
4,672
4,046
Non-financial corporations
5,516
6,866
5,622
6,572
12,506
13,696
Private sector
206,568
260,250
284,560
358,326
429,825
455,288
Financial corporations
145,415
187,507
209,734
271,377
328,896
359,259
Non-financial corporations
61,153
72,742
74,825
86,949
100,929
96,030
Net foreign debt
208,628
227,782
230,689
277,804
313,472
329,763
Public sector
65,231
45,392
34,509
18,569
5,599
12,147
General government
39,713
30,368
22,995
13,652
13,762
14,197
Financial corporations
21,360
9,196
6,814
-1,262
-13,726
-13,247
Reserve Bank
-22,092
-23,950
-22,843
-27,150
-36,909
-35,010
Central borrowing authorities
40,195
36,391
32,387
27,970
26,196
24,561
Other financial corporations
3,257
-3,245
-2,730
-2,082
-3,013
-2,798
Non-financial corporations
4,157
5,828
4,700
6,179
5,563
11,197
Private sector
143,398
182,390
196,179
259,235
307,872
317,617
Financial corporations
99,796
128,746
143,406
195,933
236,109
251,658
Non-financial corporations
43,602
53,644
52,773
63,302
71,764
65,959

(a) Foreign debt levels between direct investors and direct investment enterprises are recorded on a gross basis for assets and liabilities.

Source: Balance of Payments and International Investment Position, Australia (5302.0).


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