Papua New Guinea's debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) was US$623.36 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 564.05% from US$93.87 million in 2014 (20.84% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$623.36 million | 2024 |
| Five years earlier | US$430.79 million | 2019 |
| Ten years earlier | US$93.87 million | 2014 |
| Highest | US$988.52 million | 2020 |
| Lowest | US$1.36 million | 1970 |
| Average since 2015 | US$407.33 million | 2015–2024 |
| First recorded | US$1.36 million |
What the numbers say
In 2024, Papua New Guinea's debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) rose 20.8% on 2023 (from US$515.98 million to US$623.36 million).
Across the 30 yearly changes before that (1994 to 2023), the average change was +8.7% and a typical year strayed about 41.3% from that (the standard deviation). This year's change was 0.3 standard deviations above 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 143.6% in 1974 and the biggest yearly fall was 57.4% in 2009. 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$65.89 million a year. A straight line explains 46% 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, Papua New Guinea had the 62nd highest value of the 120 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 | |
|---|---|---|
| Papua New Guinea | US$623.36 million | 2024 |
| Lower middle income | US$142.27 billion | 2024 |
Closest to Papua New Guinea in the 2024 ranking
- Myanmar — 58th of 120: US$660.99 million
- North Macedonia — 59th of 120: US$639.46 million
- Nicaragua — 60th of 120: US$636.96 million
- Armenia — 62nd of 120: US$569.13 million
- Bosnia and Herzegovina — 63rd of 120: US$567.79 million
- Cambodia — 64th of 120: US$544.26 million
What this measures
Public and publicly guaranteed debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term obligations of public debtors and long-term private obligations guaranteed by a public entity. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) |
|---|---|
| 2024 | 623,357,879 |
| 2023 | 515,978,817 |
| 2022 | 369,368,869 |
| 2021 | 644,492,361 |
| 2020 | 988,517,239 |
| 2019 | 430,791,699 |
| 2018 | 180,898,992 |
| 2017 | 134,311,605 |
| 2016 | 98,181,365 |
| 2015 | 87,353,454 |
Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) in nearby economies
More economic policy & debt data for Papua New Guinea
- GDP (current US$) — US$32.5 billion (2025)
- GDP (current LCU) — 133.98 billion (2025)
- GDP (constant 2015 US$) — US$28.68 billion (2025)
- GDP (constant LCU) — 76.24 billion (2025)
- GDP per capita (current US$) — US$3,020 (2025)
- GDP per capita (current LCU) — 12,449 (2025)
- GDP per capita (constant 2015 US$) — US$2,665 (2025)
- GDP per capita (constant LCU) — 7,084 (2025)
- GNI (current US$) — US$30.16 billion (2025)
- GNI (current LCU) — 124.34 billion (2025)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Papua New Guinea's debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$)?
- US$623.36 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 45,873% from US$1.36 million in 1970 (12.02% a year on average, compounded). The highest value was US$988.52 million in 2020 and the lowest US$1.36 million in 1970.
- How does Papua New Guinea rank?
- 62nd highest of 120 economies with data for 2024.
- Is the latest change in debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) unusual for Papua New Guinea?
Source
World Bank, World Development Indicators, indicator DT.TDS.DPPG.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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