Philippines recorded a Government Debt to GDP of 60.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Philippines Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Philippines Government Debt: % of GDP

• Philippines Government debt accounted for 60.7 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 61.3 % in the previous quarter.
• Philippines government debt to GDP ratio data is updated quarterly, available from Mar 1993 to Dec 2024.
• The data reached an all-time high of 72.3 % in Sep 2004 and a record low of 39.6 % in Dec 2019.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Bureau of Treasury provides Government Debt in local currency. The Philippine Statistics Authority provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about Philippines Government Debt: % of GDP

• In the latest reports, Philippines National Government Debt reached 276.7 USD bn in Dec 2024.
• The country's Nominal GDP reached 102.1 USD bn in Mar 2023.

In 2024, the ratio of national debt to gross domestic product (GDP) of the Philippines was approximately 57.06 percent. Between 1993 and 2024, the figure dropped by around 16.81 percentage points, though the decline followed an uneven course rather than a steady trajectory. The ratio is forecast to decline by about 4.59 percentage points from 2024 to 2030, fluctuating as it trends downward.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Philippines debt to gdp ratio for 2014 was 43.43%, a 3.72% decline from 2013.

<ul style='margin-top:20px;'>

<li>Philippines debt to gdp ratio for 2013 was <strong>47.14%</strong>, a <strong>2.01% decline</strong> from 2012.</li>
<li>Philippines debt to gdp ratio for 2012 was <strong>49.16%</strong>, a <strong>0.35% increase</strong> from 2011.</li>
<li>Philippines debt to gdp ratio for 2011 was <strong>48.81%</strong>, a <strong>1.39% decline</strong> from 2010.</li>
</ul>Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

Key information about Philippines Household Debt: % of GDP

• Philippines household debt accounted for 11.7 % of the country's Nominal GDP in Dec 2024, compared with the ratio of 11.3 % in the previous quarter.
• Philippines household debt to GDP ratio is updated quarterly, available from Mar 2009 to Dec 2024.
• The data reached an all-time high of 11.7 % in Dec 2024 and a record low of 4.7 % in Mar 2009.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Bangko Sentral ng Pilipinas provides Household Debt in local currency. Philippine Statistics Authority provides Nominal GDP in local currency. Loans are used due to the lack of Flow of Funds statistics.


Related information about Philippines Household Debt: % of GDP

• In the latest reports, Philippines Household Debt reached 53.2 USD bn in Dec 2024.
• Money Supply M2 in Philippines increased 7.2 % YoY in Jan 2025.
• Philippines Foreign Exchange Reserves was measured at 90.8 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 7.6 Months of Import in Jan 2025.
• Philippines Domestic Credit reached 347.3 USD bn in Jan 2025, representing an increased of 10.9 % YoY.
• The country's Non Performing Loans Ratio stood at 3.3 % in Dec 2024, compared with the ratio of 3.5 % in the previous month.

Key information about Philippines External Debt: % of GDP

• Philippines External Debt accounted for 28.7 % of the country's Nominal GDP in 2023, compared with the ratio of 27.5 % in the previous year.
• Philippines External Debt: % of Nominal GDP data is updated yearly, available from Dec 1990 to Dec 2023.
• The data reached an all-time high of 73.9 % in Dec 2001 and a record low of 22.2 % in Dec 2019.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and annual Nominal GDP. Bangko Sentral ng Pilipinas provides External Debt in USD. Philippine Statistics Authority provides Nominal GDP in local currency. Bangko Sentral ng Pilipinas average market exchange rate is used for currency conversions. External Debt prior to 2005 is calculated as the sum of discontinued Total External Debt, Intercompany Accounts: Phil Branches of Foreign Banks, Loans without BSP Approval and Private Sector Obligations under Capital Lease Arrangements. These three items have been included in the Total External Debt under the new reporting framework.


Related information about Philippines External Debt: % of GDP

• In the latest reports of Philippines, Current Account recorded a surplus of 106.8 USD mn in Dec 2023.
• Foreign Direct Investment (FDI) increased by 826.1 USD mn in Dec 2023.
• Philippines Direct Investment Abroad expanded by 638.5 USD mn in Dec 2023.
• Its Foreign Portfolio Investment increased by 1.8 USD bn in Dec 2023.
• The country's External Debt reached 125,393.7 in Dec 2023.
• The country's Nominal GDP was reported at 102.1 USD bn in Mar 2023.

Key information about Philippines Private Debt: % of Nominal GDP

• Philippines Private Debt accounted for 49.83 % of its Nominal GDP in Dec 2024, compared with a ratio of 48.19 % in the previous quarter
• Philippines Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Dec 2001 to Dec 2024, with an average share of 34.48 %
• The data reached an all-time high of 52.04 % in Dec 2020 and a record low of 24.82 % in Sep 2007

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Bangko Sentral ng Pilipinas provides Private Debt in local currency. Philippine Statistics Authority provides Nominal GDP in local currency.

The statistic shows the national debt of countries in the ASEAN region of Asia in relation to gross domestic product (GDP) from 2020 to 2030. The ASEAN (Association of Southeast Asian Nations) countries are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. In 2021, the national debt of Myanmar amounted to 59.24 percent of the country's gross domestic product.

International debt issues to GDP (%) in Philippines was reported at 19.99 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - International debt issues to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

The Philippines: Government debt as percent of GDP: The latest value from 2024 is 60.7 percent, an increase from 60.18 percent in 2023. In comparison, the world average is 55.78 percent, based on data from 7 countries. Historically, the average for the Philippines from 1986 to 2024 is 54.06 percent. The minimum value, 39.61 percent, was reached in 2019 while the maximum of 71.6 percent was recorded in 2004.

The ratio of national debt to gross domestic product (GDP) of the Philippines stands at approximately 58.14 percent in 2025.Fluctuating decline between 1993 and 2025A total decrease by approximately 15.73 percentage points can be seen between 1993 and 2025. This decrease however did not happen continuously.Continuous decline between 2025 and 2030In 2030 the ratio will amount to around 52.47 percent, according to forecasts. There is an overall decrease by approximately 5.67 percentage points since 2025. This decrease reflects a consistent falling trend.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

This scatter chart displays central government debt (% of GDP) against GDP (current US$) in Philippines. The data is about countries per year.

Key information about Philippines National Government Debt

• Philippines National Government Debt reached 279.5 USD bn in Jan 2025, compared with 276.7 USD bn in the previous month.
• Philippines National Government Debt data is updated monthly, available from Jan 1993 to Jan 2025.
• The data reached an all-time high of 284.4 USD bn in Sep 2024 and a record low of 32.7 USD bn in Oct 1993.

CEIC converts monthly Government Debt into USD. The Bureau of Treasury provides Government Debt in local currency. Bangko Sentral ng Pilipinas period end market exchange rate is used for currency conversions. Government Debt covers Central Government only.


Related information about Philippines National Government Debt

• In the latest reports, Philippines Consolidated Fiscal Balance recorded a deficit equal to 5.7 % of its Nominal GDP in Dec 2024.
• The country's Government debt accounted for 60.7 % of its Nominal GDP in Dec 2024.
• Philippines Nominal GDP reached 102.1 USD bn in Mar 2023.

This horizontal bar chart displays central government debt (% of GDP) by region using the aggregation average, weighted by gdp in Philippines. The data is about countries per year.

Key information about Philippines External Debt: Short Term: % of GDP

• Philippines External Debt: Short Term accounted for 3.9 % of the country's Nominal GDP in 2023, compared with the ratio of 4.1 % in the previous year.
• Philippines External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 2005 to 2023.
• The data reached an all-time high of 8.6 % in 2005 and a record low of 3.7 % in 2009.

CEIC calculates Short Term External Debt as % of Nominal GDP from annual Short Term External Debt and annual Nominal GDP. Bangko Sentral ng Pilipinas provides Short Term External Debt in USD. Philippine Statistics Authority provides Nominal GDP in local currency. Bangko Sentral ng Pilipinas average market exchange rate is used for currency conversions.


Related information about Philippines External Debt: Short Term: % of GDP

• In the latest reports of Philippines, Current Account recorded a surplus of 106.8 USD mn in Dec 2023.
• Foreign Direct Investment (FDI) increased by 826.1 USD mn in Dec 2023.
• Philippines Direct Investment Abroad expanded by 638.5 USD mn in Dec 2023.
• Its Foreign Portfolio Investment increased by 1.8 USD bn in Dec 2023.
• Philippines External Debt: Short Term value stood at 17.4 USD bn in Dec 2023.
• The country's Nominal GDP was reported at 102.1 USD bn in Mar 2023.

This line chart displays central government debt (% of GDP) by date using the aggregation average, weighted by gdp in Philippines. The data is about countries per year.

Outstanding international public debt securities to GDP (%) in Philippines was reported at 11.68 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

This bar chart displays central government debt (% of GDP) by country using the aggregation average, weighted by gdp in Philippines. The data is about countries per year.

This scatter chart displays birth rate (per 1,000 people) against central government debt (% of GDP) in Philippines. The data is about countries per year.

Philippines PH: General Government: Gross Debt: % of GDP data was reported at 34.187 % in 2023. This records a decrease from the previous number of 34.606 % for 2022. Philippines PH: General Government: Gross Debt: % of GDP data is updated yearly, averaging 52.143 % from Dec 1993 (Median) to 2023, with 31 observations. The data reached an all-time high of 76.080 % in 1993 and a record low of 34.187 % in 2023. Philippines PH: General Government: Gross Debt: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Philippines – Table PH.IMF.FM: Government Finance Statistics.