China's net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) was −US$57.95 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 182.64% from US$70.12 billion in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$57.95 billion | 2024 |
| Five years earlier | US$98.74 billion | 2019 |
| Ten years earlier | US$70.12 billion | 2014 |
| Highest | US$109.51 billion | 2020 |
| Lowest | −US$65.85 billion | 2022 |
| Average since 2015 | US$22.98 billion | 2015–2024 |
| First recorded | US$197.58 million |
What the numbers say
In 2024, China's net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) fell US$3.66 billion on 2023 (from −US$54.29 billion to −US$57.95 billion).
Across the 29 yearly changes before that (1993 to 2023), the average change was −US$1.89 billion and a typical year strayed about US$33.93 billion from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was US$76.12 billion in 2019 and the biggest yearly fall was US$133.03 billion in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 27% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, China had the 79th highest value of the 79 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| China | −US$57.95 billion | 2024 |
| Upper middle income | −US$59.61 billion | 2024 |
Closest to China in the 2024 ranking
- Kazakhstan — 76th of 79: −US$5.32 billion
- Viet Nam — 77th of 79: −US$5.42 billion
- Brazil — 78th of 79: −US$8.55 billion
What this measures
Private nonguaranteed external debt is an external obligation of a private debtor that is not guaranteed for repayment by a public entity. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Long-term external debt is defined as debt that has an original or extended maturity of more than one year and that is owed to nonresidents by residents of an economy and repayable in currency, goods, or services. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 32 values
| Year | Net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) |
|---|---|
| 2024 | -57,946,278,000 |
| 2023 | -54,286,996,000 |
| 2022 | -65,845,997,000 |
| 2021 | 67,183,732,000 |
| 2020 | 109,506,702,000 |
| 2019 | 98,742,084,000 |
| 2018 | 22,624,852,000 |
| 2017 | 52,958,424,000 |
| 2016 | 26,642,314,000 |
| 2015 | 30,228,211,000 |
Net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) in nearby economies
- Cambodia — −US$2.29 billion (2024)
- Fiji — US$166.34 million (2024)
- Indonesia — −US$3.71 billion (2024)
- Lao PDR — −US$878.7 million (2024)
- Mongolia — US$2.95 billion (2024)
- Myanmar — US$32.05 million (2024)
- Papua New Guinea — −US$3 billion (2024)
- Philippines — US$1.14 billion (2024)
More economic policy & debt data for China
- Exports of goods and services (current US$) — US$4.11 trillion (2025)
- Exports of goods and services (current LCU) — 29.54 trillion (2025)
- Exports of goods and services (% of GDP) — 21.07% (2025)
- Imports of goods and services (current US$) — US$3.29 trillion (2025)
- Imports of goods and services (current LCU) — 23.67 trillion (2025)
- Imports of goods and services (% of GDP) — 16.89% (2025)
- External balance on goods and services (current US$) — US$816.19 billion (2025)
- External balance on goods and services (current LCU) — 5.87 trillion (2025)
- External balance on goods and services (% of GDP) — 4.19% (2025)
Reading data like this
Questions people ask
- What is China's net flows on external debt, private nonguaranteed (PNG) (NFL, current US$)?
- −US$57.95 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1992?
- It is down 29,429% from US$197.58 million in 1992. The highest value was US$109.51 billion in 2020 and the lowest −US$65.85 billion in 2022.
- How does China rank?
- 79th highest of 79 economies with data for 2024.
- Is the latest change in net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) unusual for China?
- In 2024, China's net flows on external debt, private nonguaranteed (PNG) (NFL, current US$) fell US$3.66 billion on 2023 (from −US$54.29 billion to −US$57.95 billion). Across the 29 yearly changes before that (1993 to 2023), the average change was −US$1.89 billion and a typical year strayed about US$33.93 billion from that (the standard deviation). This year's change was 0.1 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator DT.NFL.DPNG.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB), uri: https://www.worldbank.org/en/programs/debt-statistics Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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