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21 日 マニラ

30°C25°C
両替レート
¥10,000=P3,820
$100=P5,680

21 日 マニラ

30°C25°C
両替レート
¥10,000=P3,820
$100=P5,680

BOP posts $82 million surplus in September; GIR rises to $109b

2025/10/21 英字

The Philippines’ balance of payments (BOP), which accounts for the transactions of the country with the rest of the world, registered a surplus of $82 million in September 2025. This is lower than the $3.5 billion surplus recorded in September 2024.

The BOP surplus reflected the Bangko Sentral ng Pilipinas’ (BSP) net income from its investments abroad and national government’s (NG) net foreign currency deposits with the BSP.

This surplus helped narrow the year-to-date deficit, reducing it from $5.4 billion in January to August 2025 to $5.3 billion in January to September 2025.

Preliminary data indicate that the year-to-date BOP deficit was largely due to the continued trade in goods deficit.

This was partly offset by the sustained net inflows from personal remittances from overseas Filipinos, trade in services, foreign direct and portfolio investments, and foreign borrowings by the national government.

The BOP position mirrored the increase in the gross international reserves (GIR), which rose from $107.1 billion as of end-August 2025 to $109.1 billion as of end-September 2025.

The level of GIR remains an adequate external liquidity buffer, equivalent to 7.3 months' worth of imports of goods and payments of services and primary income.

Moreover, it covers about 3.8 times the country's short-term external debt based on residual maturity.

GIR are made up of foreign-denominated securities, foreign exchange, and other assets including gold. GIR help a country finance its imports and foreign debt obligations, stabilize its currency, and provide a buffer against external economic shocks. Bangko Sentral ng Pilipinas

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