Public and publicly guaranteed debt service in Philippines
Philippines: Public and publicly guaranteed debt service was 7.8% in 2024. ▼ Falling
Public and publicly guaranteed debt service in Philippines, 1977–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of exports of goods, services and primary income.
Analysis
In 2024, public and publicly guaranteed debt service in Philippines stood at 7.8%.
Compared with earlier readings it is up 53.5% on the previous year and up 28.1% over ten years.
Over the whole period, public and publicly guaranteed debt service in Philippines peaked at 25.4% in 1987 and was at its lowest, 4.6%, in 2018.
That places Philippines 49th out of 120 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.
Public and publicly guaranteed debt service in Philippines, year by year
| Year | % of exports of goods, services and primary income | Change |
|---|---|---|
| 1977 | 7.5% | — |
| 1978 | 12.6% | +67.9% |
| 1979 | 12.5% | -0.6% |
| 1980 | 7.5% | -40.5% |
| 1981 | 10.1% | +35.3% |
| 1982 | 13.0% | +29.0% |
| 1983 | 14.8% | +13.5% |
| 1984 | 14.4% | -2.6% |
| 1985 | 15.6% | +8.6% |
| 1986 | 21.6% | +38.4% |
| 1987 | 25.4% | +17.8% |
| 1988 | 24.1% | -5.3% |
| 1989 | 17.9% | -25.7% |
| 1990 | 22.2% | +24.1% |
| 1991 | 19.1% | -14.2% |
| 1992 | 21.9% | +14.8% |
| 1993 | 22.5% | +3.0% |
| 1994 | 15.1% | -32.9% |
| 1995 | 13.1% | -13.6% |
| 1996 | 10.2% | -21.8% |
| 1997 | 6.8% | -33.2% |
| 1998 | 8.3% | +21.6% |
| 1999 | 16.2% | +95.2% |
| 2000 | 14.3% | -11.9% |
| 2001 | 19.6% | +37.0% |
| 2002 | 18.2% | -6.9% |
| 2003 | 17.3% | -4.8% |
| 2004 | 18.9% | +8.8% |
| 2005 | 15.0% | -20.7% |
| 2006 | 17.7% | +18.4% |
| 2007 | 9.5% | -46.6% |
| 2008 | 11.8% | +24.8% |
| 2009 | 13.5% | +14.1% |
| 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% | +32.0% |
| 2020 | 6.2% | +2.2% |
| 2021 | 7.8% | +26.2% |
| 2022 | 4.9% | -36.8% |
| 2023 | 5.1% | +3.9% |
| 2024 | 7.8% | +53.5% |
Philippines compared with similar countries
- Philippines's 7.8% is above the median for upper middle income countries, which is 7.4%, 1.1× the median. (51 countries reporting)
- Philippines's 7.8% is above the median for East Asia & Pacific, which is 4.7%, 1.7× the median. (16 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.9% | 7.5% | 12.6% | 3 |
| 1980s | 16.4% | 7.5% | 25.4% | 10 |
| 1990s | 15.5% | 6.8% | 22.5% | 10 |
| 2000s | 15.6% | 9.5% | 19.6% | 10 |
| 2010s | 7.9% | 4.6% | 16.0% | 10 |
| 2020s | 6.4% | 4.9% | 7.8% | 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)
- Net financial flows, IDA (NFL, current US$), per square kilometre -8.3 NFL, current US$ per square kilometre (2023)
Frequently asked questions
- What is public and publicly guaranteed debt service in Philippines?
- Public and publicly guaranteed debt service in Philippines was 7.8% in 2024, according to International Debt Statistics, World Bank (WB).
- What is the highest public and publicly guaranteed debt service recorded in Philippines?
- The highest recorded value was 25.4% in 1987.
- What is the lowest public and publicly guaranteed debt service recorded in Philippines?
- The lowest recorded value was 4.6% in 2018.
- How does Philippines rank for public and publicly guaranteed debt service?
- Philippines ranks 49th out of 120 countries with data for 2024.
- Is public and publicly guaranteed debt service rising or falling in Philippines?
- Over the last ten years it is up 28.1%. 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 Public and publicly guaranteed debt service (% of exports of goods, services and primary income). Statizoid updates them automatically from the source API.
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About this data
Public and publicly guaranteed debt service to exports of goods, services, and income. Public and publicly guaranteed debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term obligations of public debtors and long-term private obligations guaranteed by a public entity. Exports of goods, services and primary income is the sum of goods (merchandise) exports, exports of (nonfactor) services and income (factor) receipts.