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Net international investment position (IIP) registered a net liability position of $28.5 billion as of end-June, lower by 9.9 percent than the $31.6 billion recorded in end-March.

This development was mainly driven by the contraction in external financial liabilities (by 5.2 percent), which outpaced that of external financial assets (by 4.6 percent).

As of end-June , total outstanding external financial asset stood at $229 billion, while total outstanding external financial liabilities amounted to $257.5 billion.

On a year-on-year basis, the country’s net liability position grew by 19.1 percent from $23.9 billion as of end-June 2021. This developed as total external financial assets decreased by 2.3 percent (from $234.4 billion), which more than offset the decline in total external financial liabilities of 0.3 percent (from $258.3 billion).

Almost half (45.9 percent) of residents’ total external financial claims were held by the BSP totaling $105.1 billion.

However, this level was 6.1 percent lower than the $111.9 billion asset holdings as of end-March 2022.

The Other Sectors’ external financial assets comprised 38.9 percent of the country’s total stock of financial assets at $89 billion. The remaining 15.3 percent of the total external financial assets of the country were held by Banks at $35 billion.

The Other Sectors comprised the highest share of the country’s total external financial liabilities at 63.6 percent and amounting to $163.8 billion as of end-June.

This level, however, was 6.3 percent lower than its outstanding liabilities in the previous quarter at $174.9 billion. The National Government’s total external financial liabilities reached $60.1 billion and accounted for 23.3 percent of the Philippines’ outstanding external financial liabilities.

Bank’s share reached 11.6 percent or $29.8 billion, while that of the BSP was 1.5 percent or $3.8 billion of the country’s total external financial liabilities. BSP