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

Key figures

What the numbers say

In 2020, Palau's net incurrence of liabilities, total (current LCU) rose 48.2 million on 2019 (from 4.36 million to 52.56 million).

Across the 11 yearly changes before that (2009 to 2019), the average change was +530,519 and a typical year strayed about 12.81 million from that (the standard deviation). This year's change was 3.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 48.2 million in 2020 and the biggest yearly fall was 15.76 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 2011 to 2020 the straight-line trend is upward, about 3.84 million a year. A straight line explains 44% 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.

Closest to Palau in the 2020 ranking

• Cabo Verde — 2nd of 8: 16.42 billion
• Bhutan — 3rd of 8: 11.71 billion
• Bahrain — 4th of 8: 1.14 billion
• Micronesia, Fed. Sts. — 6th of 8: 5.59 million
• Marshall Islands — 7th of 8: -241,000
• St. Kitts and Nevis — 8th of 8: -24.1 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)
• Kiribati — -12.76 million (2023)
• 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

More public sector data for Palau

• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100) — 70 (2024)
• Statistical performance indicators (SPI): Pillar 3 data products score (scale 0-100) — 62.36 (2024)
• Net acquisition of financial assets (current LCU) — 27.91 million (2020)
• Net acquisition of financial assets (% of GDP) — 10.78% (2020)
• Net incurrence of liabilities, total (% of GDP) — 20.29% (2020)
• Net investment in nonfinancial assets (current LCU) — 16.56 million (2020)
• Net investment in nonfinancial assets (% of GDP) — 6.39% (2020)
• Net lending (+) / net borrowing (-) (current LCU) — -24.64 million (2020)
• Net lending (+) / net borrowing (-) (% of GDP)

Reading data like this

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Questions people ask

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

52.56 million in 2020, according to the World Bank (World Development Indicators).

How has it changed since 2008?

It is up 3,662% from -1.48 million in 2008. The highest value was 52.56 million in 2020 and the lowest -7.79 million in 2013.

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

In 2020, Palau's net incurrence of liabilities, total (current LCU) rose 48.2 million on 2019 (from 4.36 million to 52.56 million). Across the 11 yearly changes before that (2009 to 2019), the average change was +530,519 and a typical year strayed about 12.81 million from that (the standard deviation). This year's change was 3.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

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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