Services, Debit/Expenditure in Philippines
Philippines: Services, Debit/Expenditure was 37.62 billion in 2024. ▲ Rising
Services, Debit/Expenditure in Philippines, 2005–2024
Source: International Monetary Fund.
Analysis
Philippines recorded 37.62 billion for services, debit/expenditure in 2024. That is the highest value across all 20 years on record.
Compared with earlier readings it is up 24.8% on the previous year and up 79.8% over ten years.
Over the whole period, services, debit/expenditure in Philippines peaked at 37.62 billion in 2024 and was at its lowest, 6.46 billion, in 2005.
That places Philippines 37th out of 198 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 20 years of available data.
Services, Debit/Expenditure in Philippines, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 6.46 billion | — |
| 2006 | 6.59 billion | +1.9% |
| 2007 | 7.54 billion | +14.5% |
| 2008 | 11.08 billion | +46.9% |
| 2009 | 9.19 billion | -17.1% |
| 2010 | 12.02 billion | +30.8% |
| 2011 | 12.32 billion | +2.5% |
| 2012 | 14.26 billion | +15.8% |
| 2013 | 16.32 billion | +14.4% |
| 2014 | 20.92 billion | +28.2% |
| 2015 | 23.61 billion | +12.9% |
| 2016 | 24.16 billion | +2.3% |
| 2017 | 26.14 billion | +8.2% |
| 2018 | 26.79 billion | +2.5% |
| 2019 | 28.22 billion | +5.4% |
| 2020 | 17.96 billion | -36.4% |
| 2021 | 19.53 billion | +8.8% |
| 2022 | 25.23 billion | +29.2% |
| 2023 | 30.15 billion | +19.5% |
| 2024 | 37.62 billion | +24.8% |
Philippines compared with similar countries
- Philippines's 37.62 billion is above the median for upper middle income countries, which is 4.11 billion, 9.2× the median. (54 countries reporting)
- Philippines's 37.62 billion is above the median for East Asia & Pacific, which is 2.40 billion, 15.7× the median. (33 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.17 billion | 6.46 billion | 11.08 billion | 5 |
| 2010s | 20.48 billion | 12.02 billion | 28.22 billion | 10 |
| 2020s | 26.10 billion | 17.96 billion | 37.62 billion | 5 |
Countries ranked near Philippines
More trade data for Philippines
- Commodity Net Export Price Index, Individual Commodities Weighted by 126.07 (2025)
- Commodity Net Export Price Index, Individual Commodities Weighted by 102.25 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 99.91 (2025)
- Commodity Export Price Index, Individual Commodites Weighted by Ratio 97.31 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 97.72 (2025)
- Commodity Import Price Index, Individual Commodites Weighted by Ratio 71.34 (2025)
- Imports of low carbon technology products, Percent of GDP 0.9273 (2024)
- Imports of low carbon technology products, US dollar (World), per 36.95 units per person (2024)
- Imports of low carbon technology products, US dollar (World), per 0.0093 units per US$ of GDP (2024)
- Exports of low carbon technology products, US dollar (World), gaps 1.76 billion (2024)
Frequently asked questions
- What is services, debit/expenditure in Philippines?
- Services, debit/expenditure in Philippines was 37.62 billion in 2024, according to International Monetary Fund.
- What is the highest services, debit/expenditure recorded in Philippines?
- The highest recorded value was 37.62 billion in 2024.
- What is the lowest services, debit/expenditure recorded in Philippines?
- The lowest recorded value was 6.46 billion in 2005.
- How does Philippines rank for services, debit/expenditure?
- Philippines ranks 37th out of 198 countries with data for 2024.
- Is services, debit/expenditure rising or falling in Philippines?
- Over the last ten years it is up 79.8%. The long-run trend across the full record is rising.
- Where does this Philippines data come from?
- The figures come from International Monetary Fund, published as part of Services, Debit/Expenditure (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.