Short-term debt in India
India: Short-term debt was 16.0% in 2024. ◆ Volatile
Short-term debt in India, 1975–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of exports of goods, services and primary income.
Analysis
The most recent figure for short-term debt in India is 16.0%, measured in 2024.
That represents a change of up 2.0% on the previous year and down 6.9% over ten years.
Over the whole period, short-term debt in India peaked at 36.6% in 1990 and was at its lowest, 4.2%, in 2001.
India ranks 49th of 119 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Short-term debt in India, year by year
| Year | % of exports of goods, services and primary income | Change |
|---|---|---|
| 1975 | 8.4% | — |
| 1976 | 7.5% | -10.7% |
| 1977 | 5.5% | -26.4% |
| 1978 | 7.6% | +38.8% |
| 1979 | 6.7% | -12.5% |
| 1980 | 10.3% | +54.0% |
| 1981 | 13.1% | +26.9% |
| 1982 | 18.8% | +43.5% |
| 1983 | 24.7% | +31.3% |
| 1984 | 26.4% | +7.1% |
| 1985 | 32.6% | +23.4% |
| 1986 | 35.3% | +8.5% |
| 1987 | 36.1% | +2.3% |
| 1988 | 35.9% | -0.8% |
| 1989 | 36.2% | +0.9% |
| 1990 | 36.6% | +1.1% |
| 1991 | 30.4% | -16.9% |
| 1992 | 25.0% | -17.7% |
| 1993 | 13.2% | -47.3% |
| 1994 | 13.2% | -0.1% |
| 1995 | 12.8% | -2.9% |
| 1996 | 15.9% | +24.1% |
| 1997 | 10.9% | -31.3% |
| 1998 | 9.1% | -16.5% |
| 1999 | 7.4% | -18.9% |
| 2000 | 5.5% | -24.9% |
| 2001 | 4.2% | -24.7% |
| 2002 | 5.5% | +32.8% |
| 2003 | 7.2% | +29.2% |
| 2004 | 5.7% | -20.7% |
| 2005 | 5.5% | -3.2% |
| 2006 | 12.5% | +126.3% |
| 2007 | 14.3% | +14.7% |
| 2008 | 13.7% | -4.3% |
| 2009 | 17.0% | +24.2% |
| 2010 | 15.8% | -7.1% |
| 2011 | 17.1% | +8.4% |
| 2012 | 20.6% | +20.3% |
| 2013 | 19.3% | -6.0% |
| 2014 | 17.2% | -11.2% |
| 2015 | 18.4% | +7.2% |
| 2016 | 18.8% | +2.3% |
| 2017 | 19.2% | +2.1% |
| 2018 | 18.6% | -3.2% |
| 2019 | 18.8% | +0.8% |
| 2020 | 20.4% | +8.8% |
| 2021 | 17.2% | -15.8% |
| 2022 | 16.1% | -6.4% |
| 2023 | 15.7% | -2.6% |
| 2024 | 16.0% | +2.0% |
India compared with similar countries
- India's 16.0% is above the median for lower middle income countries, which is 13.3%, 1.2× the median. (43 countries reporting)
- India's 16.0% is above the median for South Asia, which is 12.9%, 1.2× the median. (6 countries reporting)
Biggest year-on-year movements
Years where Short-term debt in India changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2006 | +126.3% | 5.5% | 12.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.1% | 5.5% | 8.4% | 5 |
| 1980s | 26.9% | 10.3% | 36.2% | 10 |
| 1990s | 17.4% | 7.4% | 36.6% | 10 |
| 2000s | 9.1% | 4.2% | 17.0% | 10 |
| 2010s | 18.4% | 15.8% | 20.6% | 10 |
| 2020s | 17.1% | 15.7% | 20.4% | 5 |
Countries ranked near India
More economy & growth data for India
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 5.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 35.69 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.009 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 24.38 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 39.10 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 44.06 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0099 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 26.71 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 8.87 % change on previous year (2025)
Frequently asked questions
- What is short-term debt in India?
- Short-term debt in India was 16.0% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest short-term debt recorded in India?
- The highest recorded value was 36.6% in 1990.
- What is the lowest short-term debt recorded in India?
- The lowest recorded value was 4.2% in 2001.
- How does India rank for short-term debt?
- India ranks 49th out of 119 countries with data for 2024.
- Is short-term debt rising or falling in India?
- Over the last ten years it is down 6.9%. The long-run trend across the full record is volatile.
- Where does this India data come from?
- The figures come from International Debt Statistics, World Bank (WB), published as part of Short-term debt (% of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 50 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Short-term external debt is defined as debt that has an original maturity of one year or less. Available data permit no distinction between public and private nonguaranteed short-term debt. Exports of goods, services and primary income is the sum of goods (merchandise) exports, exports of (nonfactor) services and income (factor) receipts.