1	BALANCE OF PAYMENTS
	in million U.S. dollars
Item		1990	1991	1992	1993	1994	1995	1996		1997		1998		1999
I.	Current  Account
	A. Trade, Net	-3281	-1696	-1675	-3715	-3886	-4179	-4542		-5431		1111		-4348
	(As percent of GNP)	-7.3	-3.7	-3.1	-6.7	-5.9	-5.5	-5.3		-6.3		1.6		-5.4
	Goods, Net	-4020	-3211	-4695	-6222	-7850	-8944	-11342		-11127		-28		-6207
	(As percent of GNP)	-9.0	-7.0	-8.7	-11.2	-11.9	-11.7	-13.1		-13.0		0.0		-7.7
	Exports	8186	8840	9824	11375	13483	17447	20543		25228		29496		35037
	Imports	12206	12051	14519	17597	21333	26391	31885	a	36355	b	29524	c	41244	d
	Services, Net	739	1515	3020	2507	3964	4765	6800		5696		1139		1859
	Receipts	4842	5624	7443	7497	10550	14374	19006		22835		13917		10732
	Payments	4103	4109	4423	4990	6586	9609	12206		17139		12778		8873
	B. Transfers,  Net	714	827	817	699	936	882	589		1080		435		481
	Inflow	717	828	826	746	1041	1147	1185		1670		758		645
	Outflow	3	1	9	47	105	265	596		590		323		164
	Current Account, Net	-2567	-869	-858	-3016	-2950	-3297	-3953		-4351		1546		-3867
	(As percent of GNP)	-5.7	-1.9	-1.6	-5.4	-4.5	-4.3	-4.6		-5.1		2.3		-4.8
II.	Capital  and Financial Account
	A. Medium  & Long-Term Loans, Net	674	835	633	2455	1313	1276	2841		4824		2740		5467
	Availment	4575	3622	7432	5205	4369	3927	6540		7724		6025		10178
	Repayment	3901	2787	6799	2750	3056	2651	3699		2900		3285		4711
	B.  Trading of Bonds in the Secondary Market							-37		-676		-1083		102
	Resale of Bonds							4148		3072		3307		4511
	Purchase of Bonds							4185		3748		4390		4409
	C.  Investments, Net	480	654	737	812	1558	1609	3517		762		1672		640
	Non-Res. Investments in the Phils.	498	681	931	2135	2492	2944	3621		843		2016		1236
	Resident Investments Abroad	18	27	194	1323	934	1335	104		81		344		596
	D. Change in the NFA of KBs	603	40	289	-299	674	564	4214		1188		-4347		-2117
	E. Purchase of Collateral			-469
	F. Short-Term Capital, Net	19	349	660	-148	1002	-56	540		495		1205		-70
	Capital and Financial Account, Net	1776	1878	1850	2820	4547	3393	11075		6593		187		4022
III.	Others
	A. Monetization of Gold	218	245	130	113	154	177	198		105		118		198
	B. Revaluation Adjustments	800	387	527	431	100	-96	-203		-465		-22		294
	Others, Total	1018	632	657	544	254	81	-5		-360		96		492
IV.	Net Unclassified Items	-320	462	-157	-514	-49	454	-3010		-5245		-470		3192
V.	Overall BOP Position	-93	2103	1492	-166	1802	631	4107		-3363		1359		3839
	(As percent of GNP)	-0.2	4.6	2.8	-0.3	2.7	0.8	4.8		-3.9		2.0		4.8
a	Adjusted NSO data to exclude $542 million  worth of aircraft procured under operational lease arrangement.
b	Adjusted NSO data to exclude $45 million worth of aircraft procured under operational lease arrangement;
	while of the $1,110 million worth of aircraft imported under capital lease arrangement,
	only $644 million  were accounted for in the NSO figure, thus, $466 million have to be  added to imports.
c	Adjusted NSO data to exclude $136 million worth of aircraft procured under operational lease agreement.
d	Include valuation adjustments to NSO data
Sources:  ID-, TD-, DES- BSP