What percentage of GDP was Australia's foreign debt in 2011-12?

In the context of Australia's economy in 2011-12, the foreign debt as a percentage of GDP was recorded at 54.9%. This figure indicates the total amount of money that Australia owed to foreign creditors relative to the size of its economy. A foreign debt level at this percentage suggests a significant reliance on external borrowing, which can influence exchange rates and the country's financial stability.

Understanding this percentage is important for analyzing Australia's economic position during that period, including how it managed its external liabilities and the implications for future economic policies. A high level of foreign debt can mean that a country must be vigilant about external economic influences, as fluctuations in the global economy can impact how much it costs to service that debt and the overall financial health of the nation.