Upper middle income: Short-term debt (% of total external debt)

Key figures

What the numbers say

In 2024, Upper middle income's short-term debt (% of total external debt) rose 0.48 percentage points on 2023 (from 30.87% to 31.34%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.24 percentage points and a typical year strayed about 2.81 percentage points from that (the standard deviation). This year's change was 0.1 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 8.89 percentage points in 2010 and the biggest yearly fall was 8.19 percentage points in 1983. 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 12% 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

Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. 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.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 55 values

Short-term debt (% of total external debt) in nearby economies

• Afghanistan — 13.24% (2024)
• Algeria — 25.46% (2024)
• Djibouti — 14.99% (2024)
• Egypt, Arab Rep. — 19.87% (2024)
• Iran, Islamic Rep. — 23.67% (2024)
• Iraq — 4.15% (2024)
• Jordan — 38.11% (2024)
• Lebanon — 28.26% (2024)
• Morocco — 11.04% (2024)
• Pakistan — 7.41% (2024)

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

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Questions people ask

What is Upper middle income's short-term debt (% of total external debt)?

31.34% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 17.31 percentage points from 14.03% in 1970. The highest value was 37.25% in 2013 and the lowest 11.11% in 1987.

Is the latest change in short-term debt (% of total external debt) unusual for Upper middle income?

In 2024, Upper middle income's short-term debt (% of total external debt) rose 0.48 percentage points on 2023 (from 30.87% to 31.34%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.24 percentage points and a typical year strayed about 2.81 percentage points from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB).

Source

World Bank, World Development Indicators, indicator DT.DOD.DSTC.ZS, 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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