
P H I L I P P I N E S	P H I L I P P I N E S
	SELECTED ECONOMIC AND FINANCIAL INDICATORS


	I t e m		1998		1999		2000		2001		2002		2003		2004		2005		2005		2006


IV. EXTERNAL SECTOR																			January - March

	A. Current Account Balance (US$ M) ¹⁴		1546		-2874		-2225		-1762		-351		282		1626		2354		733		1166

	(as % of GNP)		2.3		-3.6		-2.8		-2.3		-0.4		0.3		1.7	^r	2.2		3.0		4.1
	(as % of GDP)		2.4		-3.8		-2.9		-2.5		-0.5		0.4		1.9		2.4		3.3		4.4
																			January - May
	B. Trade Balance (US$ M) ¹⁵		-28		-5977	^a/	-5971	^a/	-6265		-5530		-5851		-5684		-7546		-2342	^{a r}	-1279	^{a r}

																			January - May
	C. Exports (Goods; US$ M) ¹⁵		29496	^a	34243		37347		31313		34403		35339		38794		40231		16113	^{a *}	18687	^{a r}
	Growth Rate (%)		16.9		n.c.		9.1		-16.2		9.9		2.7		9.8		3.7		4.2		16.0
																			January - March
	(as % of GDP)		45.3		45.0		49.2		44.0		44.8		44.4	^r	44.7	^r	40.9	^r	43.0		41.3
																			January - May
	D. Imports																		^**
	D. Imports (Goods; US$ M) ¹⁵		29524	^a	40220	^a/	43318		37578		39933		41190		44478		47777		18455	^a	19965	^a
	Growth Rate (%)		-18.8		n.c.		7.7		-13.3		6.3		3.1		8.0		7.4		2.2		8.2
																			January - September
																			January - March
	(as % of GDP)		45.3		52.8		57.1		52.8		52.0		51.7	^r	51.3	^r	48.6	^r	47.5	^r	42.4	^r


	E. Services, of which OFWs:																		January - May
	Remittances (US$M) (coursed through the		7368		6795		6050		6031		6886		7578		8550		10689		4229		4854	^p
	banking system)
	Deployment (in thousand persons)		832		837		842		868		892		868		934		982		464		466	^p/
																			January - March
	F. Investments, Net (US$ M) ¹⁴		187		4022		3225		849		1029		672		-1647		820		1542		1442
	Growth Rate (%)		119.4		-239.1	^b	78.8		-70.0		30.1		-6.2		10.8		149.8		268.0		-6.5
	of which:	Net Direct Investments	1592		1114		2115		335		1477		188		109		970		360		398
		Net Portfolio Investments	80		3315		-553		1027		746		562		-1665		2835		899		2162
		Financial Derivatives	..		8		44		-15		-21		-64		-27		-43		-42		-72
		Other Investments	***		-415		1619		-498		-1173		-14		-64		-2942		325		-1046
	Memo items:																		January - April
		Net Foreign Direct Investments ¹⁶	1752		1247		2240		195		1542		491		688		1132		487		500
																			January - June
		Net Foreign Portfolio Investments ¹⁷	114		473		-149		69		212		676		487		2104		1937		774

																			January - March
	G. Basic Balance (US$ M) ¹⁸		4548		-718		163		-1610		416		228		1152		2496		977		915

																			January - June
	H. Overall BOP Position (US$M) ¹⁹		1359		3591		-509		-202		810		115		-280		2410		1979		2040	^p
																			2005		2006
																			2005		2006
	I. Net International Reserves, (MA-NIR)																		June
	(end-of-period; in US$ M) ²⁰		8066	^r	11909		11392		11426		13021		14065		14560		17659	^r	16675		20502	^r/
																		^r/				^r/

	J. Total Foreign Assets, BSP-GIR (EOP, US$M) ²¹		10842	^r	15064		15063		15692		16365		17063		16228		18494	^r	17723		21123	^r/
	(in months of imports of goods & payment		3.1		3.7	^r	3.5	^r	4.0		4.0		4.1		3.6		3.8		3.9		4.3
	for services and income)
	as a % of short-term debt based on Original Maturity		185.1	^r	304.4		274.1		261.5		294.4		276.2		321.6		289.2		290.6		343.6
	as a % of short-term debt based on Residual Maturity ²²		112.0	^r	188.0		163.9		143.6		143.7		140.7		156.9		154.5		155.0		182.6

																			As of End-March
	K. External Debt (end-of-period; US$ M) ²³		46146		50997		51206		51900		53645		57395		54846		54186		55352		55304
	(as % of GNP)		67.3		63.6		63.5		68.3		65.6	^r	67.2	^r	58.7	^r	50.8	^r	57.47		49.69	^c
	(as % of GDP)		70.8		67.0		67.5		72.9		69.8		72.1	^r	63.3	^r	55.1	^r	62.02		53.93	^c

	L. External Debt Service Ratio (in %)																		January - March
	(as % of Exports of Goods and Receipts		11.74		14.63	^r	12.96	^r	15.72	^r	17.08	^r	16.88	^r	13.81	^r	13.33	^r	14.90		12.72
	from Services and Income)
	(as % of Current Account Receipts)		11.53		14.18	^r	12.54	^r	14.49	^r	15.81	^r	15.68	^r	12.89	^r	12.46	^r	13.91		12.05
						^r		^r		^r		^r
	M. External Debt Service Burden (as % of GDP)		7.82		8.64	^r	8.25	^r	9.17	^r	10.10	^r	9.98	^r	8.32	^r	7.64	^r	8.77		7.35
						^r		^r
	N. Foreign Interest Payments (as % of GDP)		3.46		3.63	^r	4.18	^r	4.08	^r	3.36	^r	3.16	^r	2.73	^r	2.70	^r	3.54		3.47
						^r		^r		^r		^r
	O. Principal Payments (as % of GDP)		4.35		5.02	^r	4.07	^r	5.09	^r	6.74	^r	6.82	^r	5.60	^r	4.94	^r	5.23		3.87

	P. World Real GDP Growth (IFS Yearbook)		2.6		3.6		4.6		2.5	^r	3.0	^r	4.0		5.1

	Q. Foreign Interest Rates																		January - June
	90-day LIBOR		5.56		5.41		6.53		3.79		1.80		1.22		1.62		3.56		3.06		4.99
	180-day LIBOR		5.56		5.52		6.65		3.74		1.88		1.23		1.79		3.77		3.28		5.12
	90-day US treasury bills		4.78		4.64		5.81		3.43		1.61		1.01		1.37		3.22		2.77		4.63

	R. Peso-Dollar Rate (P/US$)
	(Period average)		40.893		39.089		44.194		50.993		51.604		54.203		56.040		55.086		54.839		52.049
	(% Appreciation(+)/Depreciation(-))		#REF!		4.62		-11.55		-13.33		-1.18		-4.80		-3.28		1.73		2.01		5.36
	(End-of-Period)		39.059		40.313		49.998		51.404		53.096		55.569		56.267		53.067		55.919		53.587
	(% Appreciation(+)/Depreciation(-))		#REF!		-3.11		-19.37		-2.74		-3.19		-4.45		-1.24		6.03		0.47		4.35
	Standard Deviation (Volatility)		1.959		1.0140		3.3627		1.5740		1.1291		0.9833		0.2801		0.8396		0.6020		0.7498

	S. Effective Exchange Rate Index of the Peso ²⁴
	Nominal Effective Exchange Rate Index (NEERI)
	Major Trade Partners		16.66	^r	16.90	^r	16.61		14.72		14.27	^r	12.46		11.30		11.55		11.55		12.42	^p
	Competing Countries - Broad		40.37		37.01		32.33		33.91		30.88		28.83		27.94		28.68		28.68		29.26	^p
	Competing Countries - Narrow		81.09		72.52		65.20		69.00		59.82		52.17		54.72		58.57		58.57		59.25	^p
	Real Effective Exchange Rate Index (REERI)
	Major Trade Partners		69.00	^r	73.95	^r	68.78		64.04		63.29	^r	57.07		54.68		58.94		58.94		65.58	^E
	Competing Countries - Broad		121.27	^r	117.73	^r	109.02	^r	114.40	^r	106.14	^r	99.84	^r	100.78	^r	107.40	^r	107.40		110.67	^E
	Competing Countries - Narrow		218.11		189.70		169.40	^r	180.97	^r	160.53	^r	142.67		146.14		157.39	^r	157.39		154.51	^E