Philippines Balance of Payments at $289 Million Surplus in Q2 2017
Manila | 15th September 2017
Philippines’ balance of payments position (BOP) rebounded in Q2 2017, yielding a surplus of US$289 million after posting a deficit in the first quarter of the year.
” PHILIPPINES BALANCE OF PAYMENTS IN Q2 2017 AT $289 MILLION SURPLUS “
This was lower than the US$843 million surplus registered in the same quarter last year due to less net inflows (or net borrowing by residents from the rest of the world) in the financial account even as the current account reversed to a surplus.
For the period January-June 2017, the BOP posted a deficit amounting to US$706 million from a surplus of US$634 million in the comparable period in 2016.
Overall growth prospects for the global economy remained broadly positive which helped improve the country’s external trade and sustain investor confidence on the Philippine economy.
Source: Bangko Sentral ng Pilipinas