As of March 2020, government debt as a percentage of GDP was 19.2%. Household debt as a percentage of GDP was 94% (International Monetary Fund, n.d.) and as a percentage of disposable income was 163.4% (RBNZ, 2020). Household debt has increased significantly since the year 2000, with mortgages accounting for most of the increase (figure 14) (RBNZ, 2020).

References:

International Monetary Fund. (n.d.). New Zealand. Available from: https://www.imf.org/external/datamapper/profile/NZL/GDD.

RBNZ. (2020). Household debt. Reserve Bank of New Zealand website. Available from: https://www.rbnz.govt.nz/statistics/key-graphs/key-graph-household-debt.