Net government debt (excl. NZS Fund and advances) (inflation-adjusted, 2024/25 prices) was $182,171 million in 2024/25, up $2,017 million on a year earlier.
Updated
Source: Stats NZ Tatauranga Aotearoa and The Treasury (New Zealand); NZ in Numbers calculation. Last retrieved 10 October 2026.
| Period | Net core Crown debt (excl. NZS Fund and advances) (inflation-adjusted, 2024/25 prices) ($m) | Gross sovereign-issued debt (GSID) (inflation-adjusted, 2021/22 prices) ($m) |
|---|---|---|
| 2024/25 | $182,171 million | No data |
| 2023/24 | $180,154.1 million | No data |
| 2022/23 | $164,733.2 million | No data |
| 2021/22 | $144,968.2 million | $164,038 million |
| 2020/21 | $123,213 million | $140,839.4 million |
| 2019/20 | $103,999.8 million | $137,662.2 million |
| 2018/19 | $73,065.1 million | $102,296.3 million |
| 2017/18 | $73,978.8 million | $109,164.9 million |
| 2016/17 | $77,680.9 million | $107,531.8 million |
| 2015/16 | $82,223.7 million | $110,189 million |
| 2014/15 | $80,899.7 million | $110,497.5 million |
| 2013/14 | $80,300.3 million | $105,375.8 million |
| 2012/13 | $76,020.9 million | $102,016.6 million |
| 2011/12 | $69,462.5 million | $102,571.5 million |
| 2010/11 | $55,532.6 million | $95,085.1 million |
| 2009/10 | $38,955.1 million | $76,273.5 million |
| 2008/09 | $25,356.3 million | $67,117.7 million |
| 2007/08 | $15,480.4 million | $50,636.9 million |
| 2006/07 | $21,003.4 million | $51,360.5 million |
| 2005/06 | $25,879 million | $51,052.4 million |
Lines break at accounting-basis changes and missing periods. Source: Stats NZ Tatauranga Aotearoa and The Treasury (New Zealand); NZ in Numbers calculation.
Net government debt and gross sovereign-issued debt at each 30 June (31 March before 1990), expressed in constant 2021/22 prices.
These affect how the figures can be compared.
The latest ten periods for up to the first six series. Downloads contain every published observation.
| Period | net government debt (excl. NZS Fund and advances) (inflation-adjusted, 2024/25 prices) | Gross sovereign-issued debt (GSID) (inflation-adjusted, 2021/22 prices) |
|---|---|---|
| 2024/25 | $182,171 million | Not available |
| 2023/24 | $180,154 million | Not available |
| 2022/23 | $164,733 million | Not available |
| 2021/22 | $144,968 million | $164,038 million |
| 2020/21 | $123,213 million | $140,839 million |
| 2019/20 | $104,000 million | $137,662 million |
| 2018/19 | $73,065 million | $102,296 million |
| 2017/18 | $73,979 million | $109,165 million |
| 2016/17 | $77,681 million | $107,532 million |
| 2015/16 | $82,224 million | $110,189 million |
Download the file, attach it in the assistant you use, then paste the prompt. Whatever it tells you is its reading of the data, not ours.
The attached CSV is Government debt, adjusted for inflation (government-debt-real), from Stats NZ Tatauranga Aotearoa and The Treasury (New Zealand); NZ in Numbers calculation, NZ in Numbers calculation. Describe how each measure has changed, naming its unit and period. Treat changes in basis and missing periods as breaks. Distinguish observation from explanation. Limitations: Debt as a share of GDP is usually the better guide to affordability; inflation adjustment shows the real size of the debt.. Do not infer causation from changes during government terms.
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Calculated by NZ in Numbers from Stats NZ Tatauranga Aotearoa, Consumers price index (quarterly); The Treasury (New Zealand), Fiscal Time Series – Historical Fiscal Indicators.
