Debt service (PPG and IMF only, % of exports of goods, services and) in Philippines
Philippines: Debt service (PPG and IMF only, % of exports of goods, services and) was 8.0% in 2024. ▼ Falling
Debt service (PPG and IMF only, % of exports of goods, services and) in Philippines, 1977–2024
Source: International Debt Statistics, World Bank (WB).
Analysis
In 2024, debt service (ppg and imf only, % of exports of goods, services and) in Philippines stood at 8.0%.
The figure is up 52.2% on the previous year and up 30.0% over ten years.
Over the whole period, debt service (ppg and imf only, % of exports of goods, services and) in Philippines peaked at 30.2% in 1987 and was at its lowest, 4.6%, in 2018.
That places Philippines 56th out of 118 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 48 years of available data.
Debt service (PPG and IMF only, % of exports of goods, services and) in Philippines, year by year
| Year | Value | Change |
|---|---|---|
| 1977 | 9.2% | — |
| 1978 | 15.1% | +65.0% |
| 1979 | 14.6% | -3.6% |
| 1980 | 9.8% | -32.7% |
| 1981 | 11.4% | +16.3% |
| 1982 | 15.0% | +31.6% |
| 1983 | 17.7% | +18.2% |
| 1984 | 18.4% | +3.6% |
| 1985 | 18.9% | +2.9% |
| 1986 | 26.0% | +37.8% |
| 1987 | 30.2% | +16.1% |
| 1988 | 26.6% | -11.8% |
| 1989 | 20.2% | -24.3% |
| 1990 | 25.6% | +27.1% |
| 1991 | 21.8% | -15.1% |
| 1992 | 23.3% | +6.8% |
| 1993 | 23.3% | +0.1% |
| 1994 | 16.5% | -29.1% |
| 1995 | 14.3% | -13.1% |
| 1996 | 11.0% | -23.0% |
| 1997 | 7.3% | -33.7% |
| 1998 | 8.6% | +17.3% |
| 1999 | 16.7% | +94.1% |
| 2000 | 14.6% | -12.3% |
| 2001 | 19.9% | +36.2% |
| 2002 | 19.7% | -1.0% |
| 2003 | 19.3% | -2.2% |
| 2004 | 20.2% | +4.9% |
| 2005 | 15.8% | -21.7% |
| 2006 | 18.6% | +17.3% |
| 2007 | 9.5% | -49.1% |
| 2008 | 11.8% | +24.6% |
| 2009 | 13.5% | +14.2% |
| 2010 | 16.0% | +18.7% |
| 2011 | 11.9% | -25.3% |
| 2012 | 7.3% | -38.9% |
| 2013 | 7.2% | -1.8% |
| 2014 | 6.1% | -14.5% |
| 2015 | 6.8% | +11.5% |
| 2016 | 7.8% | +14.2% |
| 2017 | 5.4% | -30.6% |
| 2018 | 4.6% | -15.5% |
| 2019 | 6.0% | +32.2% |
| 2020 | 6.2% | +2.1% |
| 2021 | 7.8% | +26.2% |
| 2022 | 5.0% | -36.3% |
| 2023 | 5.2% | +5.4% |
| 2024 | 8.0% | +52.2% |
Philippines compared with similar countries
- Philippines's 8.0% is above the median for upper middle income countries, which is 7.8%, 1.0× the median. (50 countries reporting)
- Philippines's 8.0% is above the median for East Asia & Pacific, which is 4.9%, 1.6× the median. (16 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 12.9% | 9.2% | 15.1% | 3 |
| 1980s | 19.4% | 9.8% | 30.2% | 10 |
| 1990s | 16.8% | 7.3% | 25.6% | 10 |
| 2000s | 16.3% | 9.5% | 20.2% | 10 |
| 2010s | 7.9% | 4.6% | 16.0% | 10 |
| 2020s | 6.4% | 5.0% | 8.0% | 5 |
Countries ranked near Philippines
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 (ppg and imf only, % of exports of goods, services and) in Philippines?
- Debt service (ppg and imf only, % of exports of goods, services and) in Philippines was 8.0% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest debt service (ppg and imf only, % of exports of goods, services and) recorded in Philippines?
- The highest recorded value was 30.2% in 1987.
- What is the lowest debt service (ppg and imf only, % of exports of goods, services and) recorded in Philippines?
- The lowest recorded value was 4.6% in 2018.
- How does Philippines rank for debt service (ppg and imf only, % of exports of goods, services and)?
- Philippines ranks 56th out of 118 countries with data for 2024.
- Is debt service (ppg and imf only, % of exports of goods, services and) rising or falling in Philippines?
- Over the last ten years it is up 30.0%. 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 Debt service (PPG and IMF only, % of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
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About this data
Debt service, the sum of principal repayments and interest actually paid in currency, goods, or services, is expressed as a percentage of exports of goods and services--all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, net exports of goods under merchanting, nonmonetary gold, and services. This series differs from the standard debt to exports series in that it covers only long-term public and publicly guaranteed debt and repayments (repurchases and charges) to the IMF.