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The Philippines balance of payments (BOP) position registered a $1.04 billion surplus in August, resulting in lower deficit in the first eight months of the year, the central bank reported.

The central bank reported a higher balance of payments (BOP) deficit of $1.627 billion in the first five months after incurring a $1.397 billion shortfall for the month of May.

The Bangko Sentral ng Pilipinas (BSP) is expecting a bigger balance of payments (BOP) surplus of $7.1 billion in 2021 compared to its previous projection (March) of $6.2 billion.

The central bank said the country’s balance of payments (BOP) deficit is down to $231 million in the first four months on account of the $2.614 billion surplus recorded for the month of April.  

The central bank said Thursday, (April 29) that the Philippines continued to incur a balance of payments (BOP) deficit of $2.844 billion at the end of the first quarter.

The Bangko Sentral ng Pilipinas (BSP) has updated its latest balance of payments (BOP) projection higher to a $6.2 billion surplus this year versus its previous $3.3 billion estimate announced last December.

The Philippines’ balance of payments (BOP) surplus surged to an all-time high of $16.02 billion in 2020 on the back of higher reserves due to more net foreign borrowings by the National Government (NG) last year, and weak import demand because of the COVID-19 pandemic which constrained economic activities.

The Philippines’ balance of payments (BOP) surplus rose to $11.786 billion as of end-November, the Bangko Sentral ng Pilipinas (BSP) announced Monday.

The Philippines has a balance of payments (BOP) surplus of $10.31 billion for the first 10 months, after a big $3.44 billion surplus in October, the Bangko Sentral ng Pilipinas (BSP) reported Thursday.

The Philippines posted a balance of payments (BOP) surplus of $6.878 billion as of end September, higher than same time last year of $5.567 billion, the Bangko Sentral ng Pilipinas (BSP) said on Monday.

The Bangko Sentral ng Pilipinas (BSP) reported the country’s balance of payments (BOP) surplus of $4.774 billion for the January to August period, lower than same time last year of $5.529 billion.