Total debt service in Philippines
Philippines: Total debt service was 2.7% in 2023. ▼ Falling
Latest (2023)
2.7%
Change on year
up 27.1%
World rank
81st
of 119 countries
All-time high
11.1%
in 2004
All-time low
1.9%
in 2013
Years of data
54
1970–2023
Total debt service in Philippines, 1970–2023
Source: UNESCO Institute for Statistics. Measured in % of GNI.
Analysis
The most recent figure for total debt service in Philippines is 2.7%, measured in 2023.
Compared with earlier readings it is up 27.1% on the previous year and up 44.4% over ten years.
Over the whole period, total debt service in Philippines peaked at 11.1% in 2004 and was at its lowest, 1.9%, in 2013.
Philippines ranks 81st of 119 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 54 years of available data.
Total debt service in Philippines, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1970 | 4.1% | — |
| 1971 | 4.1% | +0.1% |
| 1972 | 4.2% | +0.2% |
| 1973 | 5.0% | +19.9% |
| 1974 | 3.2% | -35.4% |
| 1975 | 2.7% | -15.3% |
| 1976 | 3.0% | +9.5% |
| 1977 | 3.0% | +0.3% |
| 1978 | 5.4% | +79.9% |
| 1979 | 5.1% | -5.2% |
| 1980 | 6.0% | +17.3% |
| 1981 | 7.4% | +24.0% |
| 1982 | 8.5% | +14.9% |
| 1983 | 8.2% | -3.9% |
| 1984 | 7.9% | -3.8% |
| 1985 | 7.5% | -4.6% |
| 1986 | 9.1% | +20.4% |
| 1987 | 9.2% | +1.8% |
| 1988 | 8.1% | -12.1% |
| 1989 | 6.9% | -15.0% |
| 1990 | 7.2% | +4.6% |
| 1991 | 6.6% | -8.7% |
| 1992 | 7.1% | +7.1% |
| 1993 | 7.8% | +10.7% |
| 1994 | 6.2% | -20.7% |
| 1995 | 6.2% | -0.5% |
| 1996 | 5.5% | -11.1% |
| 1997 | 4.6% | -15.9% |
| 1998 | 5.6% | +21.5% |
| 1999 | 6.1% | +8.5% |
| 2000 | 7.7% | +27.0% |
| 2001 | 10.8% | +40.3% |
| 2002 | 11.1% | +2.0% |
| 2003 | 10.7% | -3.1% |
| 2004 | 11.1% | +3.2% |
| 2005 | 8.1% | -26.9% |
| 2006 | 9.5% | +17.3% |
| 2007 | 4.9% | -48.5% |
| 2008 | 5.2% | +7.2% |
| 2009 | 4.6% | -12.5% |
| 2010 | 4.9% | +8.0% |
| 2011 | 3.7% | -25.9% |
| 2012 | 2.0% | -46.4% |
| 2013 | 1.9% | -5.6% |
| 2014 | 2.3% | +22.6% |
| 2015 | 3.1% | +36.3% |
| 2016 | 3.1% | +0.3% |
| 2017 | 3.1% | -1.0% |
| 2018 | 2.3% | -25.3% |
| 2019 | 2.6% | +11.6% |
| 2020 | 2.4% | -6.8% |
| 2021 | 3.0% | +24.8% |
| 2022 | 2.1% | -29.3% |
| 2023 | 2.7% | +27.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.0% | 2.7% | 5.4% | 10 |
| 1980s | 7.9% | 6.0% | 9.2% | 10 |
| 1990s | 6.3% | 4.6% | 7.8% | 10 |
| 2000s | 8.4% | 4.6% | 11.1% | 10 |
| 2010s | 2.9% | 1.9% | 4.9% | 10 |
| 2020s | 2.5% | 2.1% | 3.0% | 4 |
Countries ranked near Philippines
More population data for Philippines
- Africa's Development Dynamics (AfDD) Table 05 - Demographic estimates 157,892 Persons (2050)
- Africa's Development Dynamics (AfDD) Table 03 - Annual population 1.32 Percent per annum (2030)
- Projected population under age 5, annual growth rate -0.6047 % change on previous year (2100)
- Population growth rate -0.655 (2100)
- Population density 383.08 (2100)
- Projected population under age 5 5.22 million (2100)
- Population growth rate by level of development -0.655 (2100)
- Africa's Development Dynamics (AfDD) Table 05 - Demographic estimates 1.32 % change on previous year (2030)
- Fertility and wanted fertility, annual growth rate -1.15 % change on previous year (2024)
- Refugee population by country or territory of asylum, gaps filled 962 (2024)
Frequently asked questions
- What is total debt service in Philippines?
- Total debt service in Philippines was 2.7% in 2023, according to UNESCO Institute for Statistics.
- What is the highest total debt service recorded in Philippines?
- The highest recorded value was 11.1% in 2004.
- What is the lowest total debt service recorded in Philippines?
- The lowest recorded value was 1.9% in 2013.
- How does Philippines rank for total debt service?
- Philippines ranks 81st out of 119 countries with data for 2023.
- Is total debt service rising or falling in Philippines?
- Over the last ten years it is up 44.4%. The long-run trend across the full record is falling.
- Where does this Philippines data come from?
- The figures come from UNESCO Institute for Statistics, published as part of Total debt service (% of GNI). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release