Debt service on external debt, total in Philippines
Philippines: Debt service on external debt, total was 18.00 billion TDS, current US$ in 2024. ◆ Volatile
Latest (2024)
18.00 billion TDS, current US$
Change on year
up 22.4%
World rank
14th
of 122 countries
All-time high
18.00 billion TDS, current US$
in 2024
All-time low
307.93 million TDS, current US$
in 1970
Years of data
55
1970–2024
Debt service on external debt, total in Philippines, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in TDS, current US$.
Analysis
The most recent figure for debt service on external debt, total in Philippines is 18.00 billion TDS, current US$, measured in 2024. That is the highest value across all 55 years on record.
Compared with earlier readings it is up 22.4% on the previous year and up 121.5% over ten years.
Over the whole period, debt service on external debt, total in Philippines peaked at 18.00 billion TDS, current US$ in 2024 and was at its lowest, 307.93 million TDS, current US$, in 1970.
That places Philippines 14th out of 122 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Debt service on external debt, total in Philippines, year by year
| Year | TDS, current US$ | Change |
|---|---|---|
| 1970 | 307.93 million TDS, current US$ | — |
| 1971 | 343.33 million TDS, current US$ | +11.5% |
| 1972 | 371.56 million TDS, current US$ | +8.2% |
| 1973 | 563.12 million TDS, current US$ | +51.6% |
| 1974 | 500.98 million TDS, current US$ | -11.0% |
| 1975 | 456.93 million TDS, current US$ | -8.8% |
| 1976 | 571.35 million TDS, current US$ | +25.0% |
| 1977 | 663.42 million TDS, current US$ | +16.1% |
| 1978 | 1.38 billion TDS, current US$ | +108.2% |
| 1979 | 1.58 billion TDS, current US$ | +14.7% |
| 1980 | 2.18 billion TDS, current US$ | +37.8% |
| 1981 | 2.97 billion TDS, current US$ | +36.1% |
| 1982 | 3.51 billion TDS, current US$ | +18.3% |
| 1983 | 3.03 billion TDS, current US$ | -13.8% |
| 1984 | 2.70 billion TDS, current US$ | -10.7% |
| 1985 | 2.53 billion TDS, current US$ | -6.3% |
| 1986 | 2.96 billion TDS, current US$ | +16.9% |
| 1987 | 3.38 billion TDS, current US$ | +14.0% |
| 1988 | 3.40 billion TDS, current US$ | +0.9% |
| 1989 | 3.24 billion TDS, current US$ | -4.7% |
| 1990 | 3.59 billion TDS, current US$ | +10.6% |
| 1991 | 3.40 billion TDS, current US$ | -5.3% |
| 1992 | 4.30 billion TDS, current US$ | +26.7% |
| 1993 | 4.92 billion TDS, current US$ | +14.3% |
| 1994 | 4.65 billion TDS, current US$ | -5.5% |
| 1995 | 5.36 billion TDS, current US$ | +15.4% |
| 1996 | 5.37 billion TDS, current US$ | +0.1% |
| 1997 | 4.55 billion TDS, current US$ | -15.2% |
| 1998 | 4.75 billion TDS, current US$ | +4.4% |
| 1999 | 5.90 billion TDS, current US$ | +24.1% |
| 2000 | 7.07 billion TDS, current US$ | +19.7% |
| 2001 | 9.37 billion TDS, current US$ | +32.6% |
| 2002 | 10.20 billion TDS, current US$ | +8.9% |
| 2003 | 10.20 billion TDS, current US$ | -0.0% |
| 2004 | 11.48 billion TDS, current US$ | +12.6% |
| 2005 | 9.53 billion TDS, current US$ | -17.0% |
| 2006 | 13.22 billion TDS, current US$ | +38.7% |
| 2007 | 8.30 billion TDS, current US$ | -37.2% |
| 2008 | 10.39 billion TDS, current US$ | +25.3% |
| 2009 | 8.99 billion TDS, current US$ | -13.5% |
| 2010 | 11.46 billion TDS, current US$ | +27.5% |
| 2011 | 11.17 billion TDS, current US$ | -2.5% |
| 2012 | 6.90 billion TDS, current US$ | -38.2% |
| 2013 | 6.55 billion TDS, current US$ | -5.2% |
| 2014 | 8.13 billion TDS, current US$ | +24.2% |
| 2015 | 15.66 billion TDS, current US$ | +92.6% |
| 2016 | 10.85 billion TDS, current US$ | -30.7% |
| 2017 | 12.12 billion TDS, current US$ | +11.7% |
| 2018 | 9.94 billion TDS, current US$ | -17.9% |
| 2019 | 10.55 billion TDS, current US$ | +6.1% |
| 2020 | 9.82 billion TDS, current US$ | -6.9% |
| 2021 | 12.13 billion TDS, current US$ | +23.5% |
| 2022 | 9.61 billion TDS, current US$ | -20.8% |
| 2023 | 14.71 billion TDS, current US$ | +53.1% |
| 2024 | 18.00 billion TDS, current US$ | +22.4% |
Philippines compared with similar countries
- Philippines's 18.00 billion TDS, current US$ is above the median for upper middle income countries, which is 2.21 billion TDS, current US$, 8.1× the median. (52 countries reporting)
- Philippines's 18.00 billion TDS, current US$ is above the median for East Asia & Pacific, which is 2.77 billion TDS, current US$, 6.5× the median. (16 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 674.36 million TDS, current US$ | 307.93 million TDS, current US$ | 1.58 billion TDS, current US$ | 10 |
| 1980s | 2.99 billion TDS, current US$ | 2.18 billion TDS, current US$ | 3.51 billion TDS, current US$ | 10 |
| 1990s | 4.68 billion TDS, current US$ | 3.40 billion TDS, current US$ | 5.90 billion TDS, current US$ | 10 |
| 2000s | 9.87 billion TDS, current US$ | 7.07 billion TDS, current US$ | 13.22 billion TDS, current US$ | 10 |
| 2010s | 10.33 billion TDS, current US$ | 6.55 billion TDS, current US$ | 15.66 billion TDS, current US$ | 10 |
| 2020s | 12.86 billion TDS, current US$ | 9.61 billion TDS, current US$ | 18.00 billion TDS, current US$ | 5 |
Countries ranked near Philippines
- 11 Vietnam 33.59 billion TDS, current US$ compare
- 12 Egypt 32.91 billion TDS, current US$ compare
- 13 South Africa 22.56 billion TDS, current US$ compare
- 15 Thailand 17.99 billion TDS, current US$ compare
- 16 Pakistan 16.31 billion TDS, current US$ compare
- 17 Peru 15.23 billion TDS, current US$ compare
More external debt data for Philippines
- IFC, private nonguaranteed 332.92 million NFL, US$ (2024)
- IFC, private nonguaranteed (NFL, US$), per capita 2.87 NFL, US$ per person (2024)
- IFC, private nonguaranteed (NFL, US$), per unit of GDP 0.0007 NFL, US$ per US$ of GDP (2024)
- IFC, private nonguaranteed (NFL, US$), per square kilometre 333.31 NFL, US$ per square kilometre (2023)
- Public and publicly guaranteed debt service 1.9% (2024)
- Net financial flows, IDA -2.33 million NFL, current US$ (2024)
- Net financial flows, IDA (NFL, current US$), per capita -0.0201 NFL, current US$ per person (2024)
- Net financial flows, IDA (NFL, current US$), per unit of GDP -0 NFL, current US$ per US$ of GDP (2024)
- Net financial flows, IBRD 2.25 billion NFL, current US$ (2024)
- Public and publicly guaranteed debt service 7.8% (2024)
Frequently asked questions
- What is debt service on external debt, total in Philippines?
- Debt service on external debt, total in Philippines was 18.00 billion TDS, current US$ in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest debt service on external debt, total recorded in Philippines?
- The highest recorded value was 18.00 billion TDS, current US$ in 2024.
- What is the lowest debt service on external debt, total recorded in Philippines?
- The lowest recorded value was 307.93 million TDS, current US$ in 1970.
- How does Philippines rank for debt service on external debt, total?
- Philippines ranks 14th out of 122 countries with data for 2024.
- Is debt service on external debt, total rising or falling in Philippines?
- Over the last ten years it is up 121.5%. 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 Debt service on external debt, total (TDS, current US$). Statizoid updates them automatically from the source API.
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About this data
Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF. Data are in current U.S. dollars.