Kiribati: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2023, Kiribati's net incurrence of liabilities, total (current LCU) fell 10.79 million on 2022 (from -1.96 million to -12.76 million).

Across the 11 yearly changes before that (2012 to 2022), the average change was −360,316 and a typical year strayed about 7.44 million from that (the standard deviation). This year's change was 1.4 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 9.75 million in 2014 and the biggest yearly fall was 18.96 million in 2013. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 there is no clear straight-line trend: a straight line explains 2% 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 2023, Kiribati had the 15th highest value of the 16 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 Kiribati in the 2023 ranking

• Vanuatu — 12th of 16: 1.83 billion
• Lesotho — 13th of 16: 272.1 million
• Tonga — 14th of 16: 693,426
• Samoa — 16th of 16: -69.71 million

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 13 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Australia — 81 billion (2022)
• Cambodia — 4.85 trillion (2023)
• Fiji — 663.44 million (2024)
• Korea, Rep. — 51.22 trillion (2024)
• Lao PDR — 1.27 trillion (2022)
• Malaysia — 76.85 billion (2024)
• Marshall Islands — -241,000 (2020)
• Micronesia, Fed. Sts. — 5.59 million (2020)
• Mongolia — 420.26 billion (2024)
• Myanmar

More public sector data for Kiribati

• CPIA business regulatory environment rating (1=low to 6=high) — 2.5 (2025)
• CPIA debt policy rating (1=low to 6=high) — 2.5 (2025)
• CPIA economic management cluster average (1=low to 6=high) — 2.5 (2025)
• CPIA policy and institutions for environmental sustainability rating (1=low to 6=high) — 3 (2025)
• CPIA quality of budgetary and financial management rating (1=low to 6=high) — 2.5 (2025)
• CPIA financial sector rating (1=low to 6=high) — 2 (2025)
• CPIA fiscal policy rating (1=low to 6=high) — 2 (2025)
• CPIA gender equality rating (1=low to 6=high) — 3 (2025)
• CPIA building human resources rating (1=low to 6=high)

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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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Kiribati's net incurrence of liabilities, total (current LCU)?

-12.76 million in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2011?

It is down 738.24% from 2 million in 2011. The highest value was 2 million in 2011 and the lowest -19.67 million in 2013.

How does Kiribati rank?

15th highest of 16 economies with data for 2023.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Kiribati?

In 2023, Kiribati's net incurrence of liabilities, total (current LCU) fell 10.79 million on 2022 (from -1.96 million to -12.76 million). Across the 11 yearly changes before that (2012 to 2022), the average change was −360,316 and a typical year strayed about 7.44 million from that (the standard deviation). This year's change was 1.4 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) 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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