Philippines: External debt
* indicates monthly or quarterly data series
| Philippines |
External debt, percent of GDP |
|---|---|
| Latest value | 28.87 |
| Year | 2024 |
| Measure | percent |
| Data availability | 1990 - 2024 |
| Average | 43.46 |
| Min - Max | 22.20 - 73.98 |
| Source | The World Bank |
| Available for | Data download |
The latest value from 2024 is 28.87 percent, an increase from 27.78 percent in 2023. In comparison, the world average is 132.26 percent, based on data from 119 countries. Historically, the average for the Philippines from 1990 to 2024 is 43.46 percent. The minimum value, 22.2 percent, was reached in 2019 while the maximum of 73.98 percent was recorded in 2001.
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* indicates monthly or quarterly data series
| Recent values | Philippines: External debt |
|---|---|
| 2024 | 28.87 |
| 2023 | 27.78 |
| 2022 | 27.51 |
| 2021 | 27.01 |
| 2020 | 27.23 |
| 2019 | 22.20 |
| 2018 | 22.78 |
| 2017 | 22.27 |
Definition: The total debt of public and private borrowers held by non-residents as percent of GDP. Source: Kose, M. Ayhan, Sergio Kurlat, Franziska Ohnsorge, and Naotaka Sugawara. 2022. "A Cross-Country Database of Fiscal Space." Journal of International Money and Finance 128 (November): 102682.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 98.20 | 2024 | percent |
| Trade openness | 66.79 | 2025 | percent |
| Financial openness | -0.050 | 2022 | index points |
| Exports, percent of GDP | 26.55 | 2025 | percent |
| Exports, billion dollars | 129.32 | 2025 | billion U.S. dollars |
| Growth of exports | 8.24 | 2025 | percent |
| Imports, percent of GDP | 40.24 | 2025 | percent |
| Imports, billion dollars | 196.02 | 2025 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.60 | 2025 | percent |
| Foreign Direct Investment, billion dollars | 9.40 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | -613.84 | 2025 | million dollars (current) |
| Current account, percent of GDP | -3.34 | 2025 | percent |
| Current account, in dollars | -16.29 | 2025 | billion U.S. dollars |
| Trade balance, percent of GDP | -13.69 | 2025 | percent |
| Trade balance, in dollars | -54.99 | 2024 | billion U.S. dollars |
| Reserves | 110.93 | 2025 | billion U.S. dollars |
| Remittances, percent of GDP | 8.53 | 2025 | percent |
| Remittances | 41,559.64 | 2025 | million U.S. dollars |
| Net errors and omissions | -346.43 | 2025 | million USD |
| External debt | 28.87 | 2024 | percent |
| Short-term external debt | 15.72 | 2024 | percent |
| Short-term debt to reserves | 19.72 | 2024 | percent |
| External debt in foreign currencies | 96.98 | 2024 | percent |