Short-term debt (% of total external debt) in India
India: Short-term debt (% of total external debt) was 19.5% in 2024. ◆ Volatile
Short-term debt in India, 1970–2024
Source: International Debt Statistics, World Bank (WB). Measured in % of total external debt.
Analysis
India recorded 19.5% for short-term debt in 2024.
The figure is down 0.7% on the previous year and up 4.1% over ten years.
Over the whole period, short-term debt in India peaked at 23.8% in 2012 and was at its lowest, 2.8%, in 2001.
That places India 30th 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.
Short-term debt (% of total external debt) in India, year by year
| Year | % of total external debt | Change |
|---|---|---|
| 1970 | 3.4% | — |
| 1971 | 3.4% | +1.5% |
| 1972 | 3.5% | +2.4% |
| 1973 | 3.4% | -1.2% |
| 1974 | 3.4% | -0.2% |
| 1975 | 3.4% | -0.9% |
| 1976 | 3.4% | +0.3% |
| 1977 | 2.8% | -18.1% |
| 1978 | 3.9% | +40.6% |
| 1979 | 3.8% | -2.6% |
| 1980 | 6.1% | +59.8% |
| 1981 | 7.1% | +15.8% |
| 1982 | 8.9% | +25.2% |
| 1983 | 10.9% | +22.4% |
| 1984 | 11.2% | +2.9% |
| 1985 | 11.2% | -0.1% |
| 1986 | 11.0% | -1.6% |
| 1987 | 10.6% | -3.6% |
| 1988 | 10.7% | +1.0% |
| 1989 | 10.2% | -5.1% |
| 1990 | 10.2% | +0.6% |
| 1991 | 8.3% | -18.6% |
| 1992 | 7.2% | -13.3% |
| 1993 | 4.0% | -45.0% |
| 1994 | 4.4% | +9.7% |
| 1995 | 5.4% | +23.6% |
| 1996 | 7.2% | +33.0% |
| 1997 | 5.4% | -25.1% |
| 1998 | 4.4% | -17.9% |
| 1999 | 3.9% | -10.5% |
| 2000 | 3.4% | -13.2% |
| 2001 | 2.8% | -19.5% |
| 2002 | 3.9% | +40.5% |
| 2003 | 5.3% | +37.5% |
| 2004 | 5.6% | +4.3% |
| 2005 | 7.3% | +31.0% |
| 2006 | 15.7% | +116.3% |
| 2007 | 17.7% | +12.4% |
| 2008 | 19.3% | +9.1% |
| 2009 | 18.2% | -5.8% |
| 2010 | 19.4% | +6.9% |
| 2011 | 23.3% | +20.1% |
| 2012 | 23.8% | +1.9% |
| 2013 | 21.7% | -8.7% |
| 2014 | 18.7% | -13.8% |
| 2015 | 17.0% | -8.9% |
| 2016 | 18.4% | +8.2% |
| 2017 | 19.1% | +3.6% |
| 2018 | 19.9% | +4.5% |
| 2019 | 19.0% | -4.5% |
| 2020 | 18.3% | -3.7% |
| 2021 | 18.7% | +2.2% |
| 2022 | 20.8% | +10.9% |
| 2023 | 19.6% | -5.5% |
| 2024 | 19.5% | -0.7% |
India compared with similar countries
- India's 19.5% is above the median for lower middle income countries, which is 9.0%, 2.2× the median. (43 countries reporting)
- India's 19.5% is above the median for South Asia, which is 7.2%, 2.7× the median. (6 countries reporting)
Biggest year-on-year movements
Years where Short-term debt (% of total external 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 | +116.3% | 7.3% | 15.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.5% | 2.8% | 3.9% | 10 |
| 1980s | 9.8% | 6.1% | 11.2% | 10 |
| 1990s | 6.0% | 3.9% | 10.2% | 10 |
| 2000s | 9.9% | 2.8% | 19.3% | 10 |
| 2010s | 20.0% | 17.0% | 23.8% | 10 |
| 2020s | 19.4% | 18.3% | 20.8% | 5 |
Countries ranked near India
More external debt data for India
- IFC, private nonguaranteed 1.60 billion NFL, US$ (2024)
- IFC, private nonguaranteed (NFL, US$), per capita 1.1 NFL, US$ per person (2024)
- IFC, private nonguaranteed (NFL, US$), per unit of GDP 0.0004 NFL, US$ per US$ of GDP (2024)
- IFC, private nonguaranteed (NFL, US$), per square kilometre 51.04 NFL, US$ per square kilometre (2023)
- Public and publicly guaranteed debt service 0.7% (2024)
- Net financial flows, IDA -2.06 billion NFL, current US$ (2024)
- Net financial flows, IDA (NFL, current US$), per capita -1.42 NFL, current US$ per person (2024)
- Net financial flows, IDA (NFL, current US$), per unit of GDP -0.0005 NFL, current US$ per US$ of GDP (2024)
- Net financial flows, IBRD 1.88 billion NFL, current US$ (2024)
- Public and publicly guaranteed debt service 3.1% (2024)
Frequently asked questions
- What is short-term debt in India?
- Short-term debt in India was 19.5% 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 23.8% in 2012.
- What is the lowest short-term debt recorded in India?
- The lowest recorded value was 2.8% in 2001.
- How does India rank for short-term debt?
- India ranks 30th out of 122 countries with data for 2024.
- Is short-term debt rising or falling in India?
- Over the last ten years it is up 4.1%. 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 total external debt). Statizoid updates them automatically from the source API.
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About this data
Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt.