Short-term debt in Philippines
Philippines: Short-term debt was 17.0% in 2024. ◆ Volatile
Short-term debt in Philippines, 1977–2024
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 Philippines is 17.0%, measured in 2024.
That represents a change of up 19.2% on the previous year and down 12.1% over ten years.
Over the whole period, short-term debt in Philippines peaked at 141.5% in 1982 and was at its lowest, 8.1%, in 2009.
Philippines ranks 47th 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 Philippines, year by year
| Year | % of exports of goods, services and primary income | Change |
|---|---|---|
| 1977 | 58.3% | — |
| 1978 | 78.7% | +35.0% |
| 1979 | 85.0% | +8.0% |
| 1980 | 94.5% | +11.2% |
| 1981 | 109.8% | +16.2% |
| 1982 | 141.5% | +28.9% |
| 1983 | 115.8% | -18.1% |
| 1984 | 118.0% | +1.9% |
| 1985 | 115.7% | -2.0% |
| 1986 | 62.3% | -46.1% |
| 1987 | 41.4% | -33.6% |
| 1988 | 36.2% | -12.4% |
| 1989 | 31.9% | -12.1% |
| 1990 | 34.0% | +6.6% |
| 1991 | 34.2% | +0.6% |
| 1992 | 30.3% | -11.2% |
| 1993 | 26.7% | -12.1% |
| 1994 | 23.8% | -10.9% |
| 1995 | 16.1% | -32.5% |
| 1996 | 20.2% | +25.4% |
| 1997 | 24.5% | +21.8% |
| 1998 | 13.5% | -45.0% |
| 1999 | 18.8% | +39.5% |
| 2000 | 17.8% | -5.2% |
| 2001 | 21.4% | +20.2% |
| 2002 | 18.3% | -14.6% |
| 2003 | 19.0% | +3.7% |
| 2004 | 13.9% | -26.8% |
| 2005 | 16.6% | +19.4% |
| 2006 | 10.5% | -37.0% |
| 2007 | 13.2% | +26.1% |
| 2008 | 12.8% | -3.1% |
| 2009 | 8.1% | -36.9% |
| 2010 | 17.2% | +112.9% |
| 2011 | 18.6% | +8.4% |
| 2012 | 21.9% | +17.8% |
| 2013 | 22.2% | +1.3% |
| 2014 | 19.3% | -12.9% |
| 2015 | 18.5% | -4.4% |
| 2016 | 17.4% | -5.8% |
| 2017 | 14.7% | -15.6% |
| 2018 | 15.7% | +6.9% |
| 2019 | 15.9% | +1.4% |
| 2020 | 15.5% | -2.5% |
| 2021 | 15.1% | -2.3% |
| 2022 | 14.9% | -1.9% |
| 2023 | 14.3% | -4.1% |
| 2024 | 17.0% | +19.2% |
Philippines compared with similar countries
- Philippines's 17.0% is below the median for upper middle income countries, which is 17.7%, 96% of the median. (51 countries reporting)
- Philippines's 17.0% is above the median for East Asia & Pacific, which is 11.5%, 1.5× the median. (16 countries reporting)
Biggest year-on-year movements
Years where Short-term debt in Philippines 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 |
|---|---|---|---|
| 2010 | +112.9% | 8.1% | 17.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 74.0% | 58.3% | 85.0% | 3 |
| 1980s | 86.7% | 31.9% | 141.5% | 10 |
| 1990s | 24.2% | 13.5% | 34.2% | 10 |
| 2000s | 15.2% | 8.1% | 21.4% | 10 |
| 2010s | 18.1% | 14.7% | 22.2% | 10 |
| 2020s | 15.4% | 14.3% | 17.0% | 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.60 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0033 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 13.72 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 7.79 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -17.1 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.016 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 66.71 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 4.46 % change on previous year (2025)
Frequently asked questions
- What is short-term debt in Philippines?
- Short-term debt in Philippines was 17.0% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest short-term debt recorded in Philippines?
- The highest recorded value was 141.5% in 1982.
- What is the lowest short-term debt recorded in Philippines?
- The lowest recorded value was 8.1% in 2009.
- How does Philippines rank for short-term debt?
- Philippines ranks 47th out of 119 countries with data for 2024.
- Is short-term debt rising or falling in Philippines?
- Over the last ten years it is down 12.1%. The long-run trend across the full record is volatile.
- Where does this Philippines 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 — 48 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.