Philippines's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) was US$80.51 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 106.74% from US$38.94 billion in 2014 (7.53% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$80.51 billion | 2024 |
| Five years earlier | US$41.77 billion | 2019 |
| Ten years earlier | US$38.94 billion | 2014 |
| Highest | US$80.51 billion | 2024 |
| Lowest | US$624.98 million | 1970 |
| Average since 2015 | US$52.36 billion | 2015–2024 |
| First recorded | US$624.98 million |
What the numbers say
In 2024, Philippines' external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) rose 10.4% on 2023 (from US$72.91 billion to US$80.51 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +3.7% and a typical year strayed about 9.5% from that (the standard deviation). This year's change was 0.7 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 52.1% in 1976 and the biggest yearly fall was 13.4% in 2001. 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$5.11 billion a year. A straight line explains 90% 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, Philippines had the 13th 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 | |
|---|---|---|
| Philippines | US$80.51 billion | 2024 |
| Upper middle income | US$2.2 trillion | 2024 |
Closest to Philippines in the 2024 ranking
- Ukraine — 10th of 118: US$105.18 billion
- South Africa — 11th of 118: US$97.81 billion
- Pakistan — 12th of 118: US$89.56 billion
- Bangladesh — 14th of 118: US$77.58 billion
- Nigeria — 15th of 118: US$50.19 billion
- Peru — 16th of 118: US$47.36 billion
What this measures
Public and publicly guaranteed debt comprises long-term external obligations of public debtors, including the national government, Public Corporations, State Owned Enterprises, Development Banks and Other Mixed Enterprises, political subdivisions (or an agency of either), autonomous public bodies, and external obligations of private debtors that are guaranteed for repayment by a public entity. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) |
|---|---|
| 2024 | 80,508,809,537 |
| 2023 | 72,913,718,768 |
| 2022 | 62,616,866,535 |
| 2021 | 59,696,407,094 |
| 2020 | 56,507,823,946 |
| 2019 | 41,765,599,112 |
| 2018 | 38,376,725,841 |
| 2017 | 36,538,135,578 |
| 2016 | 35,850,587,961 |
| 2015 | 38,858,704,664 |
External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) in nearby economies
More economic policy & debt data for Philippines
- Total reserves, including gold (current US$) — US$110.93 billion (2025)
- Total reserves, excluding gold (current US$) — US$92.26 billion (2025)
- General government final consumption expenditure (constant 2015 US$) — US$70.26 billion (2025)
- General government final consumption expenditure (constant LCU) — 3.5 trillion (2025)
- Households and NPISHs final consumption expenditure (constant 2015 US$) — US$339.25 billion (2025)
- Households and NPISHs final consumption expenditure (constant LCU) — 16.86 trillion (2025)
- Households and NPISHs final consumption expenditure per capita (constant 2015 US$) — US$2,905 (2025)
- Final consumption expenditure (constant 2015 US$)
Reading data like this
Questions people ask
- What is Philippines's external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$)?
- US$80.51 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 12,782% from US$624.98 million in 1970 (9.41% a year on average, compounded). The highest value was US$80.51 billion in 2024 and the lowest US$624.98 million in 1970.
- How does Philippines rank?
- 13th highest of 118 economies with data for 2024.
- Is the latest change in external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) unusual for Philippines?
- In 2024, Philippines' external debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) rose 10.4% on 2023 (from US$72.91 billion to US$80.51 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +3.7% and a typical year strayed about 9.5% from that (the standard deviation). This year's change was 0.7 standard deviations above 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.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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