Upper middle income's PPG, bonds (NFL, current US$) was US$29.75 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 64.85% from US$84.63 billion in 2014 (9.93% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$29.75 billion | 2024 |
| Five years earlier | US$112.9 billion | 2019 |
| Ten years earlier | US$84.63 billion | 2014 |
| Highest | US$162.43 billion | 2021 |
| Lowest | −US$40.64 billion | 2023 |
| Average since 2015 | US$76.68 billion | 2015–2024 |
| First recorded | US$78.45 million |
What the numbers say
In 2024, Upper middle income's PPG, bonds (NFL, current US$) rose US$70.39 billion on 2023 (from −US$40.64 billion to US$29.75 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was −US$1.68 billion and a typical year strayed about US$43.32 billion from that (the standard deviation). This year's change was 1.7 standard deviations above 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 US$70.39 billion in 2024 and the biggest yearly fall was US$197.66 billion in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 23% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
What this measures
Public and publicly guaranteed debt from bonds that are either publicly issued or privately placed. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.
Regional and income-group figures are computed by the World Bank as a sum.
All 55 values
| Year | PPG, bonds (NFL, current US$) |
|---|---|
| 2024 | 29,748,218,000 |
| 2023 | -40,642,523,000 |
| 2022 | -35,226,965,000 |
| 2021 | 162,433,825,000 |
| 2020 | 120,224,961,000 |
| 2019 | 112,902,647,000 |
| 2018 | 135,696,926,000 |
| 2017 | 133,248,669,000 |
| 2016 | 99,664,513,000 |
| 2015 | 48,735,921,000 |
PPG, bonds (NFL, current US$) in nearby economies
More economic policy & debt data for Upper middle income
- Charges for the use of intellectual property, payments (BoP, current US$) — US$95.94 billion (2025)
- Portfolio equity, net inflows (BoP, current US$) — US$27.9 billion (2025)
- Exports of goods and services (current US$) — US$8.68 trillion (2025)
- Exports of goods and services (% of GDP) — 25.88% (2025)
- Imports of goods and services (current US$) — US$7.97 trillion (2025)
- Imports of goods and services (% of GDP) — 23.76% (2025)
- External balance on goods and services (% of GDP) — 2.12% (2025)
- Trade (% of GDP) — 48.9% (2025)
- Agriculture, forestry, and fishing, value added (current US$)
Reading data like this
Questions people ask
- What is Upper middle income's PPG, bonds (NFL, current US$)?
- US$29.75 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 37,820% from US$78.45 million in 1970 (11.62% a year on average, compounded). The highest value was US$162.43 billion in 2021 and the lowest −US$40.64 billion in 2023.
- Is the latest change in PPG, bonds (NFL, current US$) unusual for Upper middle income?
- In 2024, Upper middle income's PPG, bonds (NFL, current US$) rose US$70.39 billion on 2023 (from −US$40.64 billion to US$29.75 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was −US$1.68 billion and a typical year strayed about US$43.32 billion from that (the standard deviation). This year's change was 1.7 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
- Where does this data come from?
Source
World Bank, World Development Indicators, indicator DT.NFL.PBND.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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