India's PPG, official creditors (NFL, current US$) was US$5.56 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 172.27% from US$2.04 billion in 2014 (10.53% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$5.56 billion | 2024 |
| Five years earlier | US$3.3 billion | 2019 |
| Ten years earlier | US$2.04 billion | 2014 |
| Highest | US$9.14 billion | 2020 |
| Lowest | −US$5.22 billion | 2003 |
| Average since 2015 | US$4.74 billion | 2015–2024 |
| First recorded | US$1.43 billion |
What the numbers say
In 2024, India's PPG, official creditors (NFL, current US$) fell US$942.51 million on 2023 (from US$6.5 billion to US$5.56 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +US$151.65 million and a typical year strayed about US$1.94 billion from that (the standard deviation). This year's change was 0.6 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$5.84 billion in 2020 and the biggest yearly fall was US$4.18 billion in 2002. 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 the straight-line trend is upward, about US$638.49 million a year. A straight line explains 58% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, India had the 3rd highest value of the 118 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 | |
|---|---|---|
| India | US$5.56 billion | 2024 |
| South Asia | US$13.57 billion | 2024 |
| Lower middle income | US$36.13 billion | 2024 |
Closest to India in the 2024 ranking
- Ukraine — 1st of 118: US$24.3 billion
- Bangladesh — 2nd of 118: US$6.6 billion
- Philippines — 4th of 118: US$4.91 billion
- Uzbekistan — 5th of 118: US$3.49 billion
- Nigeria — 6th of 118: US$3.3 billion
What this measures
Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | PPG, official creditors (NFL, current US$) |
|---|---|
| 2024 | 5,560,700,613 |
| 2023 | 6,503,205,784 |
| 2022 | 6,697,391,280 |
| 2021 | 6,796,619,271 |
| 2020 | 9,138,649,158 |
| 2019 | 3,302,433,610 |
| 2018 | 3,462,607,037 |
| 2017 | 2,499,452,437 |
| 2016 | 2,012,631,656 |
| 2015 | 1,439,675,565 |
PPG, official creditors (NFL, current US$) in nearby economies
- Bangladesh — US$6.6 billion (2024)
- Bhutan — US$228.39 million (2024)
- Maldives — US$609.24 million (2024)
- Nepal — US$484.33 million (2024)
- Sri Lanka — US$83.81 million (2024)
More economic policy & debt data for India
- Total reserves, including gold (current US$) — US$700.07 billion (2025)
- Total reserves, excluding gold (current US$) — US$576.45 billion (2025)
- General government final consumption expenditure (current US$) — US$426.05 billion (2025)
- General government final consumption expenditure (current LCU) — 37.21 trillion (2025)
- General government final consumption expenditure (constant 2015 US$) — US$341.19 billion (2025)
- General government final consumption expenditure (constant LCU) — 32.99 trillion (2025)
- General government final consumption expenditure (% of GDP) — 10.77% (2025)
- Households and NPISHs final consumption expenditure (current US$) — US$2.24 trillion (2025)
Reading data like this
Questions people ask
- What is India's PPG, official creditors (NFL, current US$)?
- US$5.56 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 289.25% from US$1.43 billion in 1970 (2.55% a year on average, compounded). The highest value was US$9.14 billion in 2020 and the lowest −US$5.22 billion in 2003.
- How does India rank?
- 3rd highest of 118 economies with data for 2024.
- Is the latest change in PPG, official creditors (NFL, current US$) unusual for India?
- In 2024, India's PPG, official creditors (NFL, current US$) fell US$942.51 million on 2023 (from US$6.5 billion to US$5.56 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +US$151.65 million and a typical year strayed about US$1.94 billion from that (the standard deviation). This year's change was 0.6 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.OFFT.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) 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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