Colombia - Total debt service (% of exports of goods, services and primary income)

Total debt service (% of exports of goods, services and primary income) in Colombia was 51.05 as of 2020. Its highest value over the past 50 years was 53.10 in 2003, while its lowest value was 11.30 in 1977.

Definition: Total debt service to exports of goods, services and primary income. Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.

Source: World Bank, International Debt Statistics.

See also:

Year Value
1970 28.49
1971 27.86
1972 27.41
1973 23.08
1974 22.03
1975 15.12
1976 13.69
1977 11.30
1978 12.10
1979 14.85
1980 16.60
1981 22.83
1982 30.46
1983 39.55
1984 30.91
1985 43.06
1986 34.08
1987 40.08
1988 47.60
1989 51.71
1990 43.11
1991 39.81
1992 41.38
1993 35.42
1994 49.18
1995 33.75
1996 39.17
1997 30.00
1998 31.68
1999 44.67
2000 30.57
2001 39.70
2002 45.82
2003 53.10
2004 37.95
2005 39.80
2006 32.69
2007 23.58
2008 17.71
2009 21.98
2010 20.08
2011 15.14
2012 21.07
2013 13.91
2014 21.64
2015 27.59
2016 33.17
2017 40.76
2018 40.80
2019 32.97
2020 51.05

Development Relevance: External debt is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions. External indebtedness affects a country's creditworthiness and investor perceptions. Nonreporting countries might have outstanding debt with the World Bank, other international financial institutions, or private creditors. Total debt service is contrasted with countries' ability to obtain foreign exchange through exports of goods, services, primary income, and workers' remittances. Debt ratios are used to assess the sustainability of a country's debt service obligations, but no absolute rules determine what values are too high. Empirical analysis of developing countries' experience and debt service performance shows that debt service difficulties become increasingly likely when the present value of debt reaches 200 percent of exports. Still, what constitutes a sustainable debt burden varies by country. Countries with fast-growing economies and exports are likely to be able to sustain higher debt levels. Various indicators determine a sustainable level of external debt, including: a) debt to GDP ratio b) foreign debt to exports ratio c) government debt to current fiscal revenue ratio d) share of foreign debt e) short-term debt f) concessional debt in the total debt stock

Statistical Concept and Methodology: Data on external debt are gathered through the World Bank's Debtor Reporting System (DRS). Long term debt data are compiled using the countries report on public and publicly guaranteed borrowing on a loan-by-loan basis and private non guaranteed borrowing on an aggregate basis. These data are supplemented by information from major multilateral banks and official lending agencies in major creditor countries. Short-term debt data are gathered from the Quarterly External Debt Statistics (QEDS) database, jointly developed by the World Bank and the IMF and from creditors through the reporting systems of the Bank for International Settlements. Debt data are reported in the currency of repayment and compiled and published in U.S. dollars. End-of-period exchange rates are used for the compilation of stock figures (amount of debt outstanding), and projected debt service and annual average exchange rates are used for the flows. Exchange rates are taken from the IMF's International Financial Statistics. Debt repayable in multiple currencies, goods, or services and debt with a provision for maintenance of the value of the currency of repayment are shown at book value.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: The denominator for this indicator in previous versions of Global Development Finance included workers' remittances. Workers' remittances are no longer included.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: External debt