18	SELECTED EXTERNAL DEBT RATIOS
	for periods indicated
	in million US dollars

						old concept		new concept																		Jan-Jun ^p/
			I t e m		1998	1999	^r	1999		2000		2001		2002		2003		2004		2005		2006		2007	^p/	2007		2008


	I. Debt Service Burden (DSB) ¹

		Total			5095	6627		6582		6265		6530		7762		7948		7217		7624		8091		7309		3911		4174
		Principal			2838	3820		3820		3092		3627		5179		5428		4852		4908		4841		4015		2235		2421
		Interest			2257	2807		2762		3173		2903		2583		2520		2365		2716		3250		3294		1676		1753

	II. Export Shipments²				29496	35037		34243		37347		31313		34403		35339		38794		40263		46526		49512	^r/	24169		25156

	III. Exports of Goods, and Receipts				43413	47920		44975		48347		41537		45455		47079		52261		56520		67361		74890	^r/	36071		39528
		from Services & Income ^{2, 3}

	IV. Current Account Receipts²				44171	48565		46403		49969		45057		49085		50684		55982		60436		70869		77845	^r/	37545		41143

	V. Gross National Product (GNP)				68523	80231		80231		80691		76023		81756		85446		93649		106946		127329		157087		71985		92167

	VI. Gross Domestic Product (GDP)				65171	76157		76157		75909		71216		76814		79634		86930		98829		117566		144062		65790		83431

	VII. External Debt (End-of-Period) ⁴
		Total			46146	50997		50997		51206		51900		53645		57395		54846		54186		53367		54938		53035		54808
		Public			29935	34358		34358		34136		33396		35535		39498		37895		36502		37076		37674		36827		38716
		Private			16212	16639		16639		17070		18504		18110		17897		16951		17684		16291		17264		16208		16093

	VIII. Gross International Reserves ⁵				10842	15064		15064		15063		15692		16365		17063		16228		18494		22967		33751		26383		36712
		(End-of-Period)

	IX. Ratios (%)

	1. DSB to Export Shipments				17.27	18.91		19.22		16.78		20.85		22.56		22.49		18.60		18.94		17.39		14.76	^r/	16.18		16.59
	2. DSB to Exports of Goods, and Receipts				11.74	13.83		14.63		12.96		15.72		17.08		16.88		13.81		13.49		12.01		9.76	^r/	10.84		10.56
		from Services & Income
	3. DSB to Current Account Receipts				11.53	13.65		14.18		12.54		14.49		15.81		15.68		12.89		12.61		11.42		9.39	^r/	10.42		10.15
	4. DSB to GNP				7.44	8.26		8.20		7.76		8.59		9.49		9.30		7.71		7.13		6.35		4.65		5.43		4.53
	5. DSB to GDP				7.82	8.70		8.64		8.25		9.17		10.10		9.98		8.30		7.71		6.88		5.07		5.94		5.00
	6. External Debt to GNP				67.34	63.56		63.56		63.46		68.27		65.62		67.17		58.57		50.67		41.91		34.97		37.87	^a/	30.87	^a/
	7.External Debt to GDP				70.81	66.96		66.96		67.46		72.88		69.84		72.07		63.09		54.83		45.39		38.13		41.18	^a/	33.83	^a/
		Public			45.93	45.11		45.11		44.97		46.89		46.26		49.60		43.59		36.93		31.54		26.15		28.60	^a/	23.90	^a/
		Private			24.88	21.85		21.85		22.49		25.98		23.58		22.47		19.50		17.89		13.86		11.98		12.59	^a/	9.93	^a/
	8. Gross International Reserves to
		Debt Service Burden			212.80	227.31		228.87		240.43		240.31		210.83		214.68		224.86		242.58		283.86		461.77		674.58		879.54
¹	Debt service burden represents principal and interest payments after rescheduling. In accordance with internationally-accepted concept consists of:
	- Principal and interest payments on fixed MLT credits including IMF credits, loans covered by the Paris Club and commercial banks rescheduling, and
	New Money Facilities.
	- Interest payments on fixed and revolving short-term liabilities of banks and non-banks
	but excludes the following:
	- Prepayments on future years' maturities of foreign loans
	- Principal payments on fixed and revolving ST liabilities of banks and non-banks
²	Starting 1999, the data under the new concept are generally consistent with the concept and coverage prescribed by the Balance of
	Payments Manual 5th edition.
³	Starting 1999, income includes cash remittances of overseas Filipino workers that were coursed through and reported by commercial banks which are
	reflected under the income account and workers' remittances of Current Transfers account.
⁴	External debt data were revised from 1990 onwards to reflect the reclassification of offshore banking units (OBUs) from non-resident to resident entities