Tonga External Debt
Total external debt stocks DT.DOD.DECT.CD
Tonga's external debt was $178.6M in 2025, ranked 120th globally. This represents a 3.1% increase from 2024. Data from World Bank, covering 1985–2025.
Overview
Tonga's external debt stood at $178.6M in 2025, a rise of +$5.4M from 2024. Based on recent trends, this figure is projected to reach $178.6M by 2025. Tonga ranked 120th globally.
Tonga’s external debt has risen sharply from the 1985 trough of 24,548,074.20 to a 2025 level of 178,558,664.09, placing the kingdom at rank 120 globally and still well below the all‑time peak of 223,626,733.70 recorded in 2021. Over the 41‑year coverage period, the debt trajectory shows a more than seven‑fold increase, reflecting persistent borrowing to finance infrastructure, climate‑resilience projects and balance‑of‑payments needs. Compared with peer small‑island economies, Tonga’s debt stock remains lower than São Tomé and Principe’s 319,849,577.11 and Timor‑Leste’s 327,216,193.46, yet higher than Samoa’s 384,871,438.36, indicating a moderate exposure within the regional context. The post‑2021 decline from the peak suggests that debt‑service management and fiscal consolidation measures have begun to temper the upward swing. Continued emphasis on sustainable financing and diversification of revenue sources will be crucial to prevent a reversal and to guide the debt path toward a more stable trajectory.
Data & projection
| Year | External Debt | YoY change | Rank |
|---|---|---|---|
| 2027* trend | $164.6M | - | - |
| 2026* trend | $171.6M | - | - |
| 2025* trend | $178.6M | - | - |
| 2025 | $178.6M | +$5.4M | #120 |
| 2024 | $173.2M | −$23.3M | #1 |
| 2023 | $196.5M | −$13.5M | #1 |
| 2022 | $209.9M | −$13.7M | #1 |
| 2021 | $223.6M | +$29.0M | #1 |
| 2020 | $194.6M | +$7.9M | #1 |
| 2019 | $186.6M | −$353,107 | #1 |
| 2018 | $187.0M | −$6.1M | #2 |
| 2017 | $193.1M | +$18.7M | #3 |
| 2016 | $174.4M | −$9.9M | #2 |
| 2015 | $184.3M | −$11.6M | #3 |
| 2014 | $195.9M | −$3.6M | #4 |
| 2013 | $199.6M | +$1.6M | #4 |
| 2012 | $198.0M | +$6.8M | #4 |
| 2011 | $191.2M | +$37.5M | #2 |
Detected Pattern
Analysis
Tonga matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw external debt improve within 24 months. View full analysis →
Frequently Asked Questions
Tonga's external debt was $178.6M in 2025. Ranked 120th globally. This represents a 3.1% increase from the previous year.
Tonga's external debt peaked at $223.6M in 2021.
The lowest external debt in Tonga was $24.5M in 1985.
Tonga ranks 120th globally in external debt as of 2025.
The World Bank indicator code is DT.DOD.DECT.CD. Data sourced from World Bank.
Tonga's external debt is projected to reach $178.6M by 2025 based on trend extrapolation.
Tonga's external debt was approximately 178.56 million ($178.6M) in 2025.
The external debt of Tonga in 2025 was $178.6M. This ranks 120th in the world.
Cite this page
@misc{historysaid_tonga_external-debt,
title = {Tonga External Debt},
url = {https://historysaid.com/tonga/external-debt/},
publisher = {HistorySaid},
year = {2026}
}