Papua New Guinea's external debt stocks, total (DOD, current US$) was US$12.85 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 37.08% from US$20.43 billion in 2014 (4.53% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$12.85 billion | 2024 |
| Five years earlier | US$18.74 billion | 2019 |
| Ten years earlier | US$20.43 billion | 2014 |
| Highest | US$21.61 billion | 2013 |
| Lowest | US$208.78 million | 1970 |
| Average since 2015 | US$17.9 billion | 2015–2024 |
| First recorded | US$208.78 million |
What the numbers say
In 2024, Papua New Guinea's external debt stocks, total (DOD, current US$) fell 17% on 2023 (from US$15.48 billion to US$12.85 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +11% and a typical year strayed about 49.2% 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 238.4% in 2010 and the biggest yearly fall was 21% in 2023. 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 downward, about US$466.41 million a year. A straight line explains 38% 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 61st 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 | |
|---|---|---|
| Papua New Guinea | US$12.85 billion | 2024 |
| Lower middle income | US$2.34 trillion | 2024 |
Closest to Papua New Guinea in the 2024 ranking
- Benin — 57th of 118: US$14.16 billion
- Bosnia and Herzegovina — 58th of 118: US$13.89 billion
- Rwanda — 59th of 118: US$13.05 billion
- North Macedonia — 61st of 118: US$12.84 billion
- Congo, Dem. Rep. — 62nd of 118: US$12.48 billion
- Azerbaijan — 63rd of 118: US$12.2 billion
What this measures
Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | External debt stocks, total (DOD, current US$) |
|---|---|
| 2024 | 12,854,160,688 |
| 2023 | 15,483,629,099 |
| 2022 | 19,606,599,471 |
| 2021 | 19,711,775,408 |
| 2020 | 18,046,873,709 |
| 2019 | 18,744,676,569 |
| 2018 | 17,723,605,373 |
| 2017 | 17,223,736,382 |
| 2016 | 19,247,283,289 |
| 2015 | 20,386,681,360 |
External debt stocks, total (DOD, current US$) in nearby economies
- Cambodia — US$20.98 billion (2024)
- China — US$2.42 trillion (2024)
- Fiji — US$3.87 billion (2024)
- Indonesia — US$421.06 billion (2024)
- Lao PDR — US$17.84 billion (2024)
- Mongolia — US$38.02 billion (2024)
- Myanmar — US$11.17 billion (2024)
- Philippines — US$137.02 billion (2024)
- Samoa — US$394.94 million (2024)
- Solomon Islands — US$596.15 million (2024)
More economic policy & debt data for Papua New Guinea
- GDP (current US$) — 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$30.16 billion (2025)
- GNI (current LCU) — 124.34 billion (2025)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Papua New Guinea's external debt stocks, total (DOD, current US$)?
- US$12.85 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 6,057% from US$208.78 million in 1970 (7.93% a year on average, compounded). The highest value was US$21.61 billion in 2013 and the lowest US$208.78 million in 1970.
- How does Papua New Guinea rank?
- 61st highest of 118 economies with data for 2024.
- Is the latest change in external debt stocks, total (DOD, current US$) unusual for Papua New Guinea?
- In 2024, Papua New Guinea's external debt stocks, total (DOD, current US$) fell 17% on 2023 (from US$15.48 billion to US$12.85 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +11% and a typical year strayed about 49.2% 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.DOD.DECT.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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