The Central Bank of the Philippines published balance of payments data showing a USD 5.3 billion deficit (1.5 percent of GDP) for January–September 2025, attributed to a current account shortfall that was partly offset by net inflows in the financial account amid tighter global financial conditions and lingering trade uncertainties. The current account deficit widened to USD 12.5 billion (3.6 percent of GDP), largely reflecting a larger trade in goods gap as imports exceeded exports, supported by demand for telecommunications equipment, electrical machinery, and passenger vehicles. Exports were described as resilient on strong global demand for manufactured goods, minerals, and electronics, while remittances from overseas Filipinos and services receipts from the business process outsourcing sector and travel services continued to buffer the external position. The financial account recorded a net inflow of USD 12.2 billion (3.5 percent of GDP), driven by foreign direct and portfolio investment inflows and foreign borrowings by the National Government.
Central Bank of the Philippines 2025-12-12
Central Bank of the Philippines reports a USD 5.3 billion balance of payments deficit in January to September 2025 driven by a wider current account gap
The Central Bank of the Philippines reported a USD 5.3 billion balance of payments deficit (1.5% of GDP) for January–September 2025, driven by a USD 12.5 billion current account shortfall (3.6% of GDP) due to a trade in goods gap. This was partially offset by a USD 12.2 billion net inflow in the financial account (3.5% of GDP) from foreign direct and portfolio investments and government borrowings. Resilient exports and remittances buffered the external position amid tighter global financial conditions.