Philippines External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Philippines's external debt to gni was 26.28% in 2025, ranked 91st globally. This represents a 0.1% increase from 2024. Data from World Bank, covering 1970–2025.
Overview
Philippines's external debt to gni stood at 26.28% in 2025, a rise of +0.02pp from 2024. Based on recent trends, this figure is projected to reach 26.28% by 2025. Philippines ranked 91st globally.
The Philippines' external debt to Gross National Income (GNI) ratio has exhibited a significant fluctuation over the past five decades. At its peak in 1986, the ratio reached 86.34%, a stark contrast to its all-time low of 20.18% in 2017. Although the country has made progress in reducing its external debt burden, the latest data from the World Bank indicates a ratio of 26.28% in 2025, ranking 91 globally. This is comparable to Argentina's 26.84% and slightly lower than Indonesia's 26.10%. The Philippines' external debt to GNI ratio has decreased by over 70% since its peak, reflecting the country's efforts to stabilize its economy. However, with the increasing global debt landscape, a significant economic downturn in major trading partners or a rise in global interest rates could challenge the Philippines' progress and potentially reverse the trend, thereby increasing the debt burden.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 26.57% | - | - |
| 2026* trend | 26.42% | - | - |
| 2025* trend | 26.28% | - | - |
| 2025 | 26.28% | +0.02pp | #91 |
| 2024 | 26.26% | +0.59pp | #22 |
| 2023 | 25.67% | −0.21pp | #21 |
| 2022 | 25.88% | −0.26pp | #22 |
| 2021 | 26.13% | +0.82pp | #17 |
| 2020 | 25.31% | +4.96pp | #20 |
| 2019 | 20.35% | −0.29pp | #18 |
| 2018 | 20.64% | +0.46pp | #17 |
| 2017 | 20.18% | −1.08pp | #16 |
| 2016 | 21.26% | −2.08pp | #20 |
| 2015 | 23.34% | −0.38pp | #30 |
| 2014 | 23.72% | −0.46pp | #34 |
| 2013 | 24.18% | +0.78pp | #37 |
| 2012 | 23.40% | −1.94pp | #37 |
| 2011 | 25.34% | −2.85pp | #42 |
Detected Pattern
Analysis
Philippines matched the Export Boom Cycle pattern in 2012. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Philippines's external debt to gni was 26.28% in 2025. Ranked 91st globally. This represents a 0.1% increase from the previous year.
Philippines's external debt to gni peaked at 86.34% in 1986.
The lowest external debt to gni in Philippines was 20.18% in 2017.
Philippines ranks 91st globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Philippines's external debt to gni is projected to reach 26.28% by 2025 based on trend extrapolation.
The external debt to gni of Philippines in 2025 was 26.28%. This ranks 91st in the world.
Cite this page
@misc{historysaid_philippines_external-debt-to-gni,
title = {Philippines External Debt to GNI},
url = {https://historysaid.com/philippines/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}