India: Short-term debt (% of total external debt)

Key figures

What the numbers say

In 2024, India's short-term debt (% of total external debt) fell 0.15 percentage points on 2023 (from 19.63% to 19.48%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.52 percentage points and a typical year strayed about 2.12 percentage points from that (the standard deviation). This year's change was 0.3 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 8.46 percentage points in 2006 and the biggest yearly fall was 3.25 percentage points in 1993. 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 0.21 percentage points a year. A straight line explains 39% 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 28th 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.

Closest to India in the 2024 ranking

• Nigeria — 25th of 118: 20.44%
• Argentina — 26th of 118: 20.05%
• Egypt, Arab Rep. — 27th of 118: 19.87%
• Georgia — 29th of 118: 18.8%
• Samoa — 30th of 118: 17.35%
• Cabo Verde — 31st of 118: 16.45%

What this measures

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.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 55 values

Short-term debt (% of total external debt) in nearby economies

• Bangladesh — 12.39% (2024)
• Bhutan — 0% (2024)
• Maldives — 3.41% (2024)
• Nepal — 4.17% (2024)
• Sri Lanka — 10.24% (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

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is India's short-term debt (% of total external debt)?

19.48% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 16.12 percentage points from 3.36% in 1970. The highest value was 23.78% in 2012 and the lowest 2.76% in 2001.

How does India rank?

28th highest of 118 economies with data for 2024.

Is the latest change in short-term debt (% of total external debt) unusual for India?

In 2024, India's short-term debt (% of total external debt) fell 0.15 percentage points on 2023 (from 19.63% to 19.48%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.52 percentage points and a typical year strayed about 2.12 percentage points from that (the standard deviation). This year's change was 0.3 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.DOD.DSTC.ZS, 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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