Philippines - External debt stocks (% of GNI)

External debt stocks (% of GNI) in Philippines was 25.30 as of 2020. Its highest value over the past 50 years was 86.34 in 1986, while its lowest value was 20.04 in 2017.

Definition: Total external debt stocks to gross national income. 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. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.

Source: World Bank, International Debt Statistics.

See also:

Year Value
1970 29.56
1971 29.24
1972 29.88
1973 24.44
1974 21.25
1975 24.90
1976 31.57
1977 36.96
1978 42.04
1979 42.85
1980 47.84
1981 52.00
1982 59.31
1983 65.61
1984 71.10
1985 79.17
1986 86.34
1987 81.44
1988 68.98
1989 60.93
1990 61.45
1991 63.00
1992 54.45
1993 57.40
1994 53.66
1995 45.27
1996 44.93
1997 51.32
1998 63.13
1999 60.22
2000 63.83
2001 67.52
2002 65.03
2003 65.90
2004 58.87
2005 49.78
2006 41.32
2007 34.81
2008 29.33
2009 28.52
2010 28.20
2011 25.47
2012 23.85
2013 20.86
2014 23.26
2015 22.33
2016 21.11
2017 20.04
2018 20.57
2019 20.17
2020 25.30

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

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: External debt