Net incurrence of liabilities, total in Philippines
Philippines: Net incurrence of liabilities, total was 4.8% in 2024. ◆ Volatile
Net incurrence of liabilities, total in Philippines, 1990–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for net incurrence of liabilities, total in Philippines is 4.8%, measured in 2024.
The figure is down 12.9% on the previous year and up 460.9% over ten years.
Over the whole period, net incurrence of liabilities, total in Philippines peaked at 11.5% in 2020 and was at its lowest, -3.2%, in 1994.
Philippines ranks 47th of 136 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total in Philippines, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1990 | 1.6% | — |
| 1991 | 3.0% | +87.7% |
| 1992 | 6.9% | +129.0% |
| 1993 | -0.6% | -108.2% |
| 1994 | -3.2% | +462.9% |
| 1995 | -1.1% | -66.5% |
| 1996 | 1.0% | -193.2% |
| 1997 | -1.2% | -224.4% |
| 1998 | 2.2% | -276.6% |
| 1999 | 2.2% | -1.4% |
| 2000 | 5.5% | +154.2% |
| 2001 | 4.3% | -21.9% |
| 2002 | 6.4% | +47.8% |
| 2003 | 6.1% | -4.8% |
| 2004 | 5.2% | -14.4% |
| 2005 | 3.1% | -40.6% |
| 2006 | 1.8% | -42.6% |
| 2007 | 1.9% | +7.4% |
| 2008 | 1.6% | -16.8% |
| 2009 | 2.9% | +82.1% |
| 2010 | 3.8% | +32.8% |
| 2011 | 1.2% | -68.0% |
| 2012 | 5.4% | +339.3% |
| 2013 | 1.9% | -64.3% |
| 2014 | 0.9% | -55.1% |
| 2015 | 0.9% | +3.2% |
| 2016 | 0.7% | -26.4% |
| 2017 | 3.7% | +459.6% |
| 2018 | 2.8% | -24.4% |
| 2019 | 2.2% | -19.4% |
| 2020 | 11.5% | +417.4% |
| 2021 | 8.9% | -22.5% |
| 2022 | 6.8% | -24.1% |
| 2023 | 5.5% | -18.3% |
| 2024 | 4.8% | -12.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 1.1% | -3.2% | 6.9% | 10 |
| 2000s | 3.9% | 1.6% | 6.4% | 10 |
| 2010s | 2.3% | 0.7% | 5.4% | 10 |
| 2020s | 7.5% | 4.8% | 11.5% | 5 |
Countries ranked near Philippines
- 44 Mozambique 4.9% compare
- 45 Fiji 4.9% compare
- 46 Republic of Moldova 4.8% compare
- 48 Trinidad and Tobago 4.7% compare
- 49 Mali 4.4% compare
- 50 San Marino 4.3% compare
More public sector data for Philippines
- Arms imports 238.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 2.05 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 90.4 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 238.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 52.81 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0133 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 18.96 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 6.12 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 419.22 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in Philippines?
- Net incurrence of liabilities, total in Philippines was 4.8% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Philippines?
- The highest recorded value was 11.5% in 2020.
- What is the lowest net incurrence of liabilities, total recorded in Philippines?
- The lowest recorded value was -3.2% in 1994.
- How does Philippines rank for net incurrence of liabilities, total?
- Philippines ranks 47th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in Philippines?
- Over the last ten years it is up 460.9%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.