Turkey - Total debt service (% of exports of goods, services and primary income)

Total debt service (% of exports of goods, services and primary income) in Turkey was 41.34 as of 2020. Its highest value over the past 46 years was 48.53 in 2002, while its lowest value was 12.37 in 1974.

Definition: Total debt service to exports of goods, services and primary income. Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.

Source: World Bank, International Debt Statistics.

See also:

Year Value
1974 12.37
1975 18.66
1976 23.24
1977 41.59
1978 47.91
1979 45.15
1980 43.77
1981 39.86
1982 37.44
1983 39.50
1984 33.04
1985 40.30
1986 40.96
1987 41.20
1988 41.92
1989 37.57
1990 33.80
1991 36.08
1992 35.90
1993 31.40
1994 34.10
1995 30.08
1996 23.35
1997 22.30
1998 26.40
1999 38.90
2000 38.90
2001 42.37
2002 48.53
2003 38.67
2004 34.37
2005 37.40
2006 32.87
2007 32.33
2008 30.13
2009 41.53
2010 36.51
2011 30.84
2012 26.94
2013 27.57
2014 24.25
2015 25.99
2016 37.24
2017 38.05
2018 34.60
2019 34.59
2020 41.34

Development Relevance: External debt is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions. External indebtedness affects a country's creditworthiness and investor perceptions. Nonreporting countries might have outstanding debt with the World Bank, other international financial institutions, or private creditors. Total debt service is contrasted with countries' ability to obtain foreign exchange through exports of goods, services, primary income, and workers' remittances. Debt ratios are used to assess the sustainability of a country's debt service obligations, but no absolute rules determine what values are too high. Empirical analysis of developing countries' experience and debt service performance shows that debt service difficulties become increasingly likely when the present value of debt reaches 200 percent of exports. Still, what constitutes a sustainable debt burden varies by country. Countries with fast-growing economies and exports are likely to be able to sustain higher debt levels. Various indicators determine a sustainable level of external debt, including: a) debt to GDP ratio b) foreign debt to exports ratio c) government debt to current fiscal revenue ratio d) share of foreign debt e) short-term debt f) concessional debt in the total debt stock

Statistical Concept and Methodology: Data on external debt are gathered through the World Bank's Debtor Reporting System (DRS). Long term debt data are compiled using the countries report on public and publicly guaranteed borrowing on a loan-by-loan basis and private non guaranteed borrowing on an aggregate basis. These data are supplemented by information from major multilateral banks and official lending agencies in major creditor countries. Short-term debt data are gathered from the Quarterly External Debt Statistics (QEDS) database, jointly developed by the World Bank and the IMF and from creditors through the reporting systems of the Bank for International Settlements. Debt data are reported in the currency of repayment and compiled and published in U.S. dollars. End-of-period exchange rates are used for the compilation of stock figures (amount of debt outstanding), and projected debt service and annual average exchange rates are used for the flows. Exchange rates are taken from the IMF's International Financial Statistics. Debt repayable in multiple currencies, goods, or services and debt with a provision for maintenance of the value of the currency of repayment are shown at book value.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: The denominator for this indicator in previous versions of Global Development Finance included workers' remittances. Workers' remittances are no longer included.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: External debt