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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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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 by Australian residents at a particular date can be equated with 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 2001 was $311.0b, up 14% on 30 June 2000. The increase during 2000-01 resulted from net financial transactions of $16.6b, price changes of $1.3b, exchange rate changes of $21.5b and other adjustments of -$0.5b (table 30.12).

At 30 June 2001, the net foreign debt of the public sector (general government plus public financial and non-financial corporations) was $8.5b, which accounted for 3% of total net foreign debt. Net foreign debt levels of private financial corporations and private non-financial corporations were $235.7b (76% of total net foreign debt) and $66.7b (21%) respectively (table 30.13).


30.13 LEVELS OF FOREIGN DEBT - At 30 June

1996

$m
1997

$m
1998

$m
1999

$m
2000

$m
2001

$m

Foreign debt assets(a)
-81,661
-94,218
-119,189
-127,038
-137,842
-169,642
Public sector
-31,100
-31,048
-41,329
-41,390
-46,424
-60,736
General government
-2,284
-2,836
-8,095
-9,378
-9,219
-10,338
Financial corporations
-28,144
-26,853
-32,196
-31,178
-36,811
-47,809
- Reserve Bank
-18,445
-22,164
-23,998
-22,883
-27,184
-36,958
- Central Borrowing Authorities
-11
-8
-179
-385
-1,090
-1,638
- Other financial corporations
-9,688
-4,681
-8,019
-7,910
-8,538
-9,213
Non-financial corporations
-672
-1,359
-1,037
-835
-393
-2,589
Private sector
-50,561
-63,170
-77,860
-85,647
-91,418
-108,906
- Financial corporations
-36,149
-45,619
-58,762
-63,445
-67,841
-80,216
- Non-financial corporations
-14,412
-17,552
-19,098
-22,203
-23,577
-28,690
Foreign debt liabilities(a)
275,533
302,846
346,971
352,615
409,913
480,594
Public sector
101,269
96,278
86,721
75,279
63,445
69,226
General government
39,697
42,549
38,463
32,373
22,872
24,100
Financial corporations
56,472
48,213
41,392
37,284
34,001
32,605
- Reserve Bank
51
72
48
40
34
49
- Central Borrowing Authorities
41,388
40,203
36,571
32,772
29,060
27,886
- Other financial corporations
15,032
7,938
4,774
4,473
4,907
4,670
Non-financial corporations
5,100
5,516
6,866
5,622
6,572
12,521
Private sector
174,264
206,568
260,250
277,335
346,468
411,368
- Financial corporations
115,780
145,415
187,507
204,012
262,543
315,944
- Non-financial corporations
58,484
61,153
72,742
73,324
83,925
95,425
Net foreign debt
193,872
208,628
227,782
225,577
272,071
310,952
Public sector
70,169
65,231
45,392
33,889
17,022
8,490
General government
37,413
39,713
30,368
22,995
13,652
13,762
Financial corporations
28,328
21,360
9,196
6,107
-2,810
-15,205
- Reserve Bank
-18,394
-22,092
-23,950
-22,843
-27,150
-36,909
- Central Borrowing Authorities
41,378
40,195
36,391
32,387
27,970
26,248
- Other financial corporations
5,344
3,257
-3,245
-3,437
-3,630
-4,543
Non-financial corporations
4,428
4,157
5,828
4,787
6,179
9,932
Private sector
123,703
143,398
182,390
191,688
255,049
302,462
- Financial corporations
79,630
99,796
128,746
140,567
194,702
235,728
- Non-financial corporations
44,072
43,602
53,644
51,121
60,347
66,735

(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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