External debt stocks in Philippines
Philippines: External debt stocks was 26.3% in 2024. ▼ Falling
External debt stocks in Philippines, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of GNI.
Analysis
In 2024, external debt stocks in Philippines stood at 26.3%.
That represents a change of up 2.3% on the previous year and up 10.7% over ten years.
Over the whole period, external debt stocks in Philippines peaked at 86.3% in 1986 and was at its lowest, 20.2%, in 2017.
Philippines ranks 96th of 121 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 55 years of available data.
External debt stocks in Philippines, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 29.6% | — |
| 1971 | 29.2% | -1.1% |
| 1972 | 29.9% | +2.2% |
| 1973 | 24.4% | -18.2% |
| 1974 | 21.3% | -13.0% |
| 1975 | 24.9% | +17.2% |
| 1976 | 31.6% | +26.8% |
| 1977 | 37.0% | +17.1% |
| 1978 | 42.0% | +13.7% |
| 1979 | 42.9% | +1.9% |
| 1980 | 47.8% | +11.6% |
| 1981 | 52.0% | +8.7% |
| 1982 | 59.3% | +14.1% |
| 1983 | 65.6% | +10.6% |
| 1984 | 71.1% | +8.4% |
| 1985 | 79.2% | +11.3% |
| 1986 | 86.3% | +9.1% |
| 1987 | 81.4% | -5.7% |
| 1988 | 69.0% | -15.3% |
| 1989 | 60.9% | -11.7% |
| 1990 | 61.4% | +0.9% |
| 1991 | 63.0% | +2.5% |
| 1992 | 54.5% | -13.6% |
| 1993 | 57.4% | +5.4% |
| 1994 | 53.7% | -6.5% |
| 1995 | 45.3% | -15.6% |
| 1996 | 44.9% | -0.8% |
| 1997 | 51.3% | +14.2% |
| 1998 | 63.1% | +23.0% |
| 1999 | 60.2% | -4.6% |
| 2000 | 63.8% | +6.0% |
| 2001 | 67.5% | +5.8% |
| 2002 | 65.0% | -3.7% |
| 2003 | 65.9% | +1.3% |
| 2004 | 58.8% | -10.7% |
| 2005 | 49.8% | -15.4% |
| 2006 | 41.3% | -17.0% |
| 2007 | 34.8% | -15.8% |
| 2008 | 29.3% | -15.7% |
| 2009 | 28.5% | -2.8% |
| 2010 | 28.2% | -1.1% |
| 2011 | 25.3% | -10.1% |
| 2012 | 23.4% | -7.7% |
| 2013 | 24.2% | +3.3% |
| 2014 | 23.7% | -1.9% |
| 2015 | 23.3% | -1.6% |
| 2016 | 21.3% | -8.9% |
| 2017 | 20.2% | -5.1% |
| 2018 | 20.6% | +2.3% |
| 2019 | 20.4% | -1.4% |
| 2020 | 25.3% | +24.4% |
| 2021 | 26.1% | +3.2% |
| 2022 | 25.9% | -1.0% |
| 2023 | 25.7% | -0.8% |
| 2024 | 26.3% | +2.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 31.3% | 21.3% | 42.9% | 10 |
| 1980s | 67.3% | 47.8% | 86.3% | 10 |
| 1990s | 55.5% | 44.9% | 63.1% | 10 |
| 2000s | 50.5% | 28.5% | 67.5% | 10 |
| 2010s | 23.1% | 20.2% | 28.2% | 10 |
| 2020s | 25.8% | 25.3% | 26.3% | 5 |
Countries ranked near Philippines
More economy & growth data for Philippines
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.98 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.4 Percent per annum (2029)
- Services, value added (current US$), annual growth rate 7.49 % change on previous year (2025)
- Services, value added (current US$), per unit of GDP 0.6442 current US$ per US$ of GDP (2025)
- Services, value added (current US$), per capita 2,687 current US$ per person (2025)
- Services, value added (current LCU), annual growth rate 7.89 % change on previous year (2025)
- Services, value added (current LCU), per unit of GDP 37.04 current LCU per US$ of GDP (2025)
- Services, value added (current LCU), per capita 154,500 current LCU per person (2025)
- Services, value added (constant 2015 US$), annual growth rate 5.82 % change on previous year (2025)
- Services, value added (constant 2015 US$), per unit of GDP 0.6191 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is external debt stocks in Philippines?
- External debt stocks in Philippines was 26.3% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest external debt stocks recorded in Philippines?
- The highest recorded value was 86.3% in 1986.
- What is the lowest external debt stocks recorded in Philippines?
- The lowest recorded value was 20.2% in 2017.
- How does Philippines rank for external debt stocks?
- Philippines ranks 96th out of 121 countries with data for 2024.
- Is external debt stocks rising or falling in Philippines?
- Over the last ten years it is up 10.7%. The long-run trend across the full record is falling.
- Where does this Philippines data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of External debt stocks (% of GNI). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.