1	PHILIPPINES:  BALANCE OF PAYMENTS
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	CURRENT ACCOUNT						-2874	-2225	-1744	-279	288	1628	1955
	(Totals as percent of GNP)						-3.6	-2.8	-2.3	-0.3	0.3	1.7	1.8
	(Totals as percent of GDP)						-3.8	-2.9	-2.4	-0.4	0.4	1.9	2.0
	Goods  and  Services						-7597	-7841	-8553	-7532	-7814	-7461	-9192
		(Totals as percent of GNP)					-9.5	-9.7	-11.3	-9.2	-9.1	-8.0	-8.6
		(Totals as percent of GDP)					-10.0	-10.3	-12.0	-9.8	-9.8	-8.6	-9.3
		Export					37711	40724	34385	37831	38728	42837	44702
		Import					45308	48565	42938	45363	46542	50298	53894
		Goods					-5977	-5971	-6265	-5530	-5851	-5684	-7773
		(Totals as percent of GNP)					-7.4	-7.4	-8.2	-6.8	-6.8	-6.1	-7.3
		(Totals as percent of GDP)					-7.8	-7.9	-8.8	-7.2	-7.3	-6.6	-7.9
			Credit: Exports				34243	37347	31313	34403	35339	38794	40263
			Debit:   Imports 1/				40220	43318	37578	39933	41190	44478	48036
		Services					-1620	-1870	-2288	-2002	-1963	-1777	-1419
			Credit: Exports				3468	3377	3072	3428	3389	4043	4439
			Debit:   Imports				5088	5247	5360	5430	5352	5820	5858
	Income						-1061	-27	-51	-427	-284	-71	-244
		Credit:   Receipts					2723	3336	3553	3306	3330	3725	3937
		Debit:     Payments					3784	3363	3604	3733	3614	3796	4181
	Current  Transfers						5784	5643	6860	7680	8386	9160	11391
		Credit:   Receipts					5969	5909	7119	7948	8626	9420	11711
		Debit:     Payments					185	266	259	268	240	260	320
	CAPITAL  AND  FINANCIAL  ACCOUNT						4185	3363	911	1056	726	-1630	1661
	Capital  Account						163	138	62	27	54	17	40
		Credit:    Receipts					270	168	86	50	82	46	58
		Debit:      Payments					107	30	24	23	28	29	18
	Financial  Account						4022	3225	849	1029	672	-1647	1621
		Direct Investment					1114	2115	335	1477	188	109	1222
			Debit: Assets, Residents'  Investments Abroad				133	125	-140	65	303	579	162
			Credit: Liabilities, Non-Residents'				1247	2240	195	1542	491	688	1384
				Investments in the Phil.
		Portfolio Investment					3315	-553	1027	746	562	-1713	3576
			Debit: Assets, Residents'  Investments Abroad				603	812	57	628	818	910	45
			Credit: Liabilities, Non-Residents'				3918	259	1084	1374	1380	-803	3621
				Investments in the Phil.
		Financial Derivatives					8	44	-15	-21	-64	-27	-43
			Debit: Assets, Residents'  Investments Abroad				-51	-166	-83	-85	-54	-58	-98
			Credit: Liabilities, Non-Residents'				-43	-122	-98	-106	-118	-85	-141
				Investments in the Phil.
		Other Investment					-415	1619	-498	-1173	-14	-16	-3134
			Debit: Assets, Residents'  Investments Abroad				1051	-2455	-761	256	-743	859	4795
			Credit: Liabilities, Non-Residents'				636	-836	-1259	-917	-757	843	1661
				Investments in the Phil.
	NET UNCLASSIFIED ITEMS						2280	-1647	631	33	-899	-278	-1206
	OVERALL BOP POSITION						3591	-509	-202	810	115	-280	2410
	(Totals as percent of GNP)						4.5	-0.6	-0.3	1.0	0.1	-0.3	2.3
	(Totals as percent of GDP)						4.7	-0.7	-0.3	1.1	0.1	-0.3	2.4
	Debit: Change in Reserve Assets						3955	-90	471	-253	-355	-1637	1601
	Credit: Change in Reserve Liabilities						364	419	673	-1063	-470	-1357	-809
		Use of Fund Credits					289	304	-8	-407	-608	-471	-321
		Short-term					75	115	681	-656	138	-886	-488
	Memo Items:
		Change in Commercial Banks' (KBs)					-1835	891	-337	-604	-542	-152	-1490
			Net Foreign Assets (NFA)
		OFW Cash Remittances					6022	6050	7721	8607	9093	10261	12293
			of which channeled thru the banking system				*	*	6031	6886	7579	8551	10688
		Basic Balance					-718	163	-1592	488	234	1154	2731
		Net Unclassified Items as Percent of total Trade					3.1	-2.0	0.9	0.0	-1.2	-0.3	-1.4
	*    -  For 1999 and 2000, there is no differentiation between total OFW cash remittances and remittances chanelled through the banking
		system.  This period represents the transition years of the revised foreign exchange monitoring report form (FX Form 1).
	r/   -  Revised as of 20 September 2006; to reflect late reports, post audit adjustments and final data from companies.
	1/   - Data on goods import for 2005 were adjusted to reflect preliminary adjustments on the valuation of raw materials for electronics and
		garments exports; 2004 data were adjusted to reflect preliminary adjustments on the valuation of raw materials for garments exports.
	Technical Notes:
	1. Balances in the current and capital and financial accounts excluding reserves are derived by deducting debit entries from credit entries.
	2. Overall BOP position is determined by deducting change in reserve liabilities from change in reserve assets.
	3. Net unclassifed items is an offsetting account to the overstatement or understatement in either receipts or payments of the recorded BOP
	components vis-à-vis the overall BOP position.
	4. Change in KBs NFA as a BOP entry is derived by deducting foreign assets from foreign liabilities, consistent with the principle described
	in technical note No. 1. This includes assigned capital of foreign banks in local branches that are converted to pesos.
	5. Basic balance represents a BOP position that excludes transactions that are volatile and are in the short run susceptible to being reversed.
	It is derived using the following formula: Overall BOP position less (Net portfolio investments + net short-term liabilities) less errors and omissions.
	In the old BOP series,  all transactions in assets and liabilities of commercial banks were deemed to be long-term. With the refinements in the
	new series on the maturity structure of KBs' transactions, short-term financial transactions of KBs are now excluded from the basic balance.
2	GOODS
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	GOODS						-5977	-5971	-6265	-5530	-5851	-5684	-7773
		EXPORTS					34243	37347	31313	34403	35339	38794	40263
		IMPORTS					40220	43318	37578	39933	41190	44478	48036
												0	0
	General Merchandise						-7940	-8502	-8219	-7716	-8181	-8402	-10157
		General Merchandise Exports, fob					18068	21533	19339	21306	23345	25642	25892
			Exports of goods in trade statistics, fob				35037	38078	32150	35207	36230	39681	41255
			Adjustments				-16969	-16545	-12811	-13901	-12885	-14039	-15363
					For  Coverage		-794	-731	-837	-804	-891	-887	-992
					For  Classification		-16175	-15814	-11974	-13097	-11994	-13152	-14371
					For  Valuation		0	0	0	0	0	0	0
					For  Timing		0	0	0	0	0	0	0
		General Merchandise Imports, fob					26008	30035	27558	29022	31526	34044	36049
			Imports of goods in trade statistics, fob				30742	34491	33057	39237	40469	44041	47417
			Adjustments				-4734	-4456	-5499	-10215	-8943	-9997	-11368
					For  Coverage		-1024	-509	-434	-433	-335	-543	-492
					For  Classification		-14212	-13283	-10020	-10911	-9664	-10434	-11987
					For  Valuation		10502	9336	4955	1129	1056	980	1111
					For  Timing		0	0	0	0	0	0	0
	Goods for processing:  (On consignment)						1308	2287	1837	2169	2282	2717	2537
		Exports					15440	15550	11801	12956	11802	12992	14231
		Imports					14132	13263	9964	10787	9520	10275	11694
							0	0	0	0	0	0	0
		Processing Abroad:					0	0	0	0	0	0	0
			Exports				0	0	0	0	0	0	0
			Imports				0	0	0	0	0	0	0
		Processing in the compiling economy					1308	2287	1837	2169	2282	2717	2537
			Exports				15440	15550	11801	12956	11802	12992	14231
			Imports				14132	13263	9964	10787	9520	10275	11694
							0	0	0	0	0	0	0
	Repairs on goods:						417	14	-12	-53	-52	-45	-42
		Exports					476	14	38	0	3	0	0
		Imports					59	0	50	53	55	45	42
	Goods procured in ports by  carriers						46	63	41	-16	7	14	-119
		Exports					46	63	41	35	58	91	70
		Imports					0	0	0	51	51	77	189
	Nonmonetary  Gold						192	167	88	86	93	32	8
		Exports					213	187	94	106	131	69	70
		Imports					21	20	6	20	38	37	62
		Held as a store of value  (Gold Bullion)					165	144	62	71	102	40	24
			Exports				165	144	62	71	102	40	24
			Imports				0	0	0	0	0	0	0
		Others (Industrial Gold)					27	23	26	15	-9	-8	-16
			Exports				48	43	32	35	29	29	46
			Imports				21	20	6	20	38	37	62
Adjustments to general merchandise exports/imports:
For classification:			a) Exports and imports on consignment are reclassified from general merchandise to goods for processing
			b) Industrial gold and gold bullion are reclassified from general merchandise to non-monetary gold
			c) Repairs on goods cover repair activity on goods provided to or received from non-residents on ships, aircrafts, etc.
r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
3	SERVICES
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	SERVICES						-1620	-1870	-2288	-2002	-1963	-1777	-1419
		EXPORTS					3468	3377	3072	3428	3389	4043	4439
		IMPORTS					5088	5247	5360	5430	5352	5820	5858
	Transportation						-1704	-1588	-1429	-1426	-1468	-2094	-2163
		Exports					307	464	590	877	951	1001	962
		Imports					2011	2052	2019	2303	2419	3095	3125
		of which: Passenger					-58	-21	62	9	41	122	222
			Exports				74	178	269	257	277	373	490
			Imports				132	199	207	248	236	251	268
		of which: Freight					-1503	-1438	-1390	-1278	-1397	-2178	-2338
			Exports				106	115	98	488	543	499	353
			Imports				1609	1553	1488	1766	1940	2677	2691
		of which: Other					-143	-129	-101	-157	-112	-38	-47
			Exports				127	171	223	132	131	129	119
			Imports				270	300	324	289	243	167	166
	Travel						973	514	31	135	131	742	902
		Exports					2578	2156	1742	1761	1544	2017	2181
		Imports					1605	1642	1711	1626	1413	1275	1279
	Communication  services						83	121	256	293	352	359	405
		Exports					139	182	328	378	433	487	520
		Imports					56	61	72	85	81	128	115
	Construction  services						-108	-27	-235	-93	-16	23	59
		Exports					58	97	64	30	48	71	66
		Imports					166	124	299	123	64	48	7
	Insurance  services						-127	-143	-136	-163	-170	-187	-186
		Exports					12	12	12	12	12	12	17
		Imports					139	155	148	175	182	199	203
	Financial  services						36	47	-16	-38	-16	-34	-40
		Exports					67	80	40	32	38	43	53
		Imports					31	33	56	70	54	77	93
	Computer and Information  services						-45	-23	-64	-43	-18	-16	27
		Exports					57	76	22	37	28	33	89
		Imports					102	99	86	80	46	49	62
	Royalties and license fees						-104	-190	-158	-235	-274	-262	-259
		Exports					6	7	1	1	4	11	6
		Imports					110	197	159	236	278	273	265
	Other business services						-541	-495	-453	-378	-448	-249	-107
		Exports					225	285	258	293	322	361	525
		Imports					766	780	711	671	770	610	632
		Merchanting and other trade-related services					76	59	24	22	8	17	14
			Exports				76	59	24	22	8	17	14
			Imports				0	0	0	0	0	0	0
		Operational leasing services					-71	-82	-85	-72	-55	-53	-47
			Exports				15	23	10	9	11	4	5
			Imports				86	105	95	81	66	57	52
		Misc. business, professional					-546	-472	-392	-328	-401	-213	-74
			and technical services
			Exports				134	203	224	262	303	340	506
			Imports				680	675	616	590	704	553	580
	Personal, cultural and recreational services						-8	-14	-22	-10	-6	-8	11
		Exports					19	18	15	7	9	7	20
		Imports					27	32	37	17	15	15	9
		Audio-Visual and related services					-3	-9	-10	-10	-5	-4	14
			Exports				14	15	6	6	9	7	19
			Imports				17	24	16	16	14	11	5
		Other personal, cultural and					-5	-5	-12	0	-1	-4	-3
			recreational services
			Exports				5	3	9	1	0	0	1
			Imports				10	8	21	1	1	4	4
	Government services, n.i.e.						-75	-72	-62	-44	-30	-51	-68
			Exports				0	0	0	0	0	0	0
			Imports				75	72	62	44	30	51	68
	r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
4	INCOME
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	INCOME						-1061	-27	-51	-427	-284	-71	-244
		RECEIPTS					2723	3336	3553	3306	3330	3725	3937
		PAYMENTS					3784	3363	3604	3733	3614	3796	4181
	Compensation of emp. incl. border,						1481	1763	2432	2568	2558	2851	2893
		seasonal, and other workers
		Receipts					1481	1763	2432	2568	2558	2851	2893
		Payments					0	0	0	0	0	0	0
	Investment Income						-2542	-1790	-2483	-2995	-2842	-2922	-3137
		Receipts					1242	1573	1121	738	772	874	1044
		Payments					3784	3363	3604	3733	3614	3796	4181
		Direct Investment Income					-801	-173	-670	-1192	-1047	-1346	-1327
			Receipts				35	57	13	19	20	27	19
			Payments				836	230	683	1211	1067	1373	1346
			Income on Equity				-761	-117	-588	-1111	-987	-1295	-1236
				Receipts			35	57	10	19	20	18	17
				Payments			796	174	598	1130	1007	1313	1253
				Dividends and distributed			-312	-451	-846	-876	-819	-1154	-1096
					branch profits
					Receipts		35	57	10	19	20	18	17
					Payments		347	508	856	895	839	1172	1113
				Reinvested earnings and			-449	334	258	-235	-168	-141	-140
					undistributed branch profits
					Receipts		0	0	0	0	0	0	0
					Payments		449	-334	-258	235	168	141	140
			Income on debt (interest)				-40	-56	-82	-81	-60	-51	-91
				Receipts			0	0	3	0	0	9	2
				Payments			40	56	85	81	60	60	93
		Portfolio  Investment Income					-690	-521	-520	-720	-766	-685	-919
			Receipts				416	605	634	424	532	596	625
			Payments				1106	1126	1154	1144	1298	1281	1544
			Income on Equity (dividends)				-22	-8	-23	-20	-50	-70	-158
				Receipts			16	8	6	0	0	0	1
				Payments			38	16	29	20	50	70	159
				Monetary authorities			0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0
							0	0	0	0	0	0	0
				General government			0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0
				Banks			0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0
				Other sectors			-22	-8	-23	-20	-50	-70	-158
					Receipts		16	8	6	0	0	0	1
					Payments		38	16	29	20	50	70	159
			Income on debt (interest)				-668	-513	-497	-700	-716	-615	-761
				Receipts			400	597	628	424	532	596	624
				Payments			1068	1110	1125	1124	1248	1211	1385
				Bonds and notes			-614	-510	-529	-709	-772	-723	-810
					Receipts		395	581	584	412	476	487	575
					Payments		1009	1091	1113	1121	1248	1210	1385
					Monetary authorities		180	305	304	141	267	217	363
						Receipts	266	443	417	297	417	360	477
						Payments	86	138	113	156	150	143	114
					General government		-494	-477	-475	-537	-670	-688	-870
						Receipts	0	0	0	0	0	0	0
						Payments	494	477	475	537	670	688	870
					Banks		0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0
					Other sectors		-300	-338	-358	-313	-369	-252	-303
						Receipts	129	138	167	115	59	127	98
						Payments	429	476	525	428	428	379	401
				Money market instruments			-54	-3	32	9	56	108	49
					Receipts		5	16	44	12	56	109	49
					Payments		59	19	12	3	0	1	0
					Monetary authorities		0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0
												0	0
					General government		0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0
												0	0
					Banks		0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0
					Other sectors		-54	-3	32	9	56	108	49
						Receipts	5	16	44	12	56	109	49
						Payments	59	19	12	3	0	1	0
		Other investment Income					-1051	-1096	-1293	-1083	-1029	-891	-891
			Receipts				791	911	474	295	220	251	400
			Payments				1842	2007	1767	1378	1249	1142	1291
			Monetary authorities				129	227	-31	-21	-7	11	93
				Receipts			313	472	232	116	78	89	167
				Payments			184	245	263	137	85	78	74
			General government				-803	-615	-602	-456	-444	-358	-465
				Receipts			0	0	0	0	0	0	0
				Payments			803	615	602	456	444	358	465
			Banks				25	-70	-102	-122	-101	-79	-152
				Receipts			444	410	206	130	106	104	145
				Payments			419	480	308	252	207	183	297
			Other sectors				-402	-638	-558	-484	-477	-465	-367
				Receipts			34	29	36	49	36	58	88
				Payments			436	667	594	533	513	523	455
	r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
5	CURRENT TRANSFERS
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	CURRENT TRANSFERS						5784	5643	6860	7680	8386	9160	11391
		RECEIPTS					5969	5909	7119	7948	8626	9420	11711
		PAYMENTS					185	266	259	268	240	260	320
		General government					433	442	471	497	555	387	437
			Receipts				495	503	533	563	620	460	530
			Payments				62	61	62	66	65	73	93
		Other sectors					5351	5201	6389	7183	7831	8773	10954
			Receipts				5474	5406	6586	7385	8006	8960	11181
			Payments				123	205	197	202	175	187	227
			Workers' remittances				5212	5161	6328	7167	7681	8617	10668
				Receipts			5212	5161	6328	7167	7681	8617	10668
				Payments			0	0	0	0	0	0	0
			Other transfers				139	40	61	16	150	156	286
				Receipts			262	245	258	218	325	343	513
				Payments			123	205	197	202	175	187	227
	r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
6	CAPITAL ACCOUNT
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	CAPITAL ACCOUNT						163	138	62	27	54	17	40
		RECEIPTS					270	168	86	50	82	46	58
		PAYMENTS					107	30	24	23	28	29	18
		Capital transfers					164	138	62	27	54	25	42
			Receipts				270	168	86	50	82	46	58
			Payments				106	30	24	23	28	21	16
			General government				221	122	77	48	41	41	41
				Receipts			221	122	77	48	41	41	41
				Payments			0	0	0	0	0	0	0
				Debt  forgiveness			0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0
				Other			221	122	77	48	41	41	41
					Receipts		221	122	77	48	41	41	41
					Payments		0	0	0	0	0	0	0
			Other sectors				-57	16	-15	-21	13	-16	1
				Receipts			49	46	9	2	41	5	17
				Payments			106	30	24	23	28	21	16
				Migrants transfers			-1	16	-15	-21	-14	-14	-10
					Receipts		24	37	9	0	4	3	5
					Payments		25	21	24	21	18	17	15
				Debt  forgiveness			0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0
				Other			-56	0	0	0	27	-2	11
					Receipts		25	9	0	2	37	2	12
					Payments		81	9	0	2	10	4	1
		Acquisition/disposal of nonproduced,					-1	0	0	0	0	-8	-2
			nonfinancial assets
			Receipts				0	0	0	0	0	0	0
			Payments				1	0	0	0	0	8	2
	r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
7	DIRECT INVESTMENT
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	DIRECT INVESTMENT						1114	2115	335	1477	188	109	1222
		ASSETS :  Residents' Investments Abroad					133	125	-140	65	303	579	162
		Equity  capital					133	125	-140	65	303	579	162
			Claims on affiliated enterprises				133	125	-140	65	303	579	162
			Liabilities to affiliated enterprises				0	0	0	0	0	0	0
		Reinvested earnings					0	0	0	0	0	0	0
		Other Capital					0	0	0	0	0	0	0
			Claims on affiliated enterprises				0	0	0	0	0	0	0
			Liabilities to affiliated enterprises				0	0	0	0	0	0	0
		LIABILITIES : Non-residents' Investments					1247	2240	195	1542	491	688	1384
			in the Philippines
		Equity  capital					1178	1333	556	1607	249	750	1136
			Claims on direct investors				0	0	0	0	0	0	0
			Liabilities to direct investors				1178	1333	556	1607	249	750	1136
		Reinvested earnings					449	-334	-258	235	168	141	140
			Claims				0	0	0	0	0	0	0
			Liabilities				449	-334	-258	235	168	141	140
		Other Capital					-380	1241	-103	-300	74	-203	108
			Claims on direct investors				582	-753	565	227	1	-96	-190
			Liabilities to direct investors				202	488	462	-73	75	-299	-82
	Notes:    Balance is derived by deducting assets from liabilities.
			r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
8	PORTFOLIO INVESTMENT
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	PORTFOLIO INVESTMENT						3315	-553	1027	746	562	-1713	3576
		ASSETS :  Residents' Investments Abroad					603	812	57	628	818	910	45
		Equity  securities					55	42	-30	8	48	18	5
			Monetary  Authorities				0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
			Banks				0	0	-3	1	2	6	1
			Other sectors				55	42	-27	7	46	12	4
				Placements			75	219	4	14	46	115	4
				Withdrawals			20	177	31	7	0	103	0
		Debt  securities					548	770	87	620	770	892	40
			Bonds and notes				548	770	238	-238	698	183	326
				Monetary  Authorities			0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0
				Banks			122	341	215	-314	613	155	-353
				Other sectors			426	429	23	76	85	28	679
			Money-market instruments				0	0	-151	858	72	709	-286
				Monetary  Authorities			0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0
				Banks			0	0	-76	661	-49	668	-352
				Other sectors			0	0	-75	197	121	41	66
8	PORTFOLIO INVESTMENT
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
		LIABILITIES : Non-residents' Investments in the Phils					3918	259	1084	1374	1380	-803	3621
		Equity  securities					489	-202	125	227	500	518	1465
			Banks				17	-4	3	-10	3	1	-1
			Other sectors				472	-198	122	237	497	517	1466
				Placements			12294	3228	1123	1198	1311	1917	3827
				Withdrawals			11822	3426	1001	961	814	1400	2361
		Debt  securities					3429	461	959	1147	880	-1321	2156
			Bonds and notes				3429	461	959	1147	880	-1321	2145
				Monetary  Authorities			1157	-195	141	-161	-206	-542	-723
				General  Government			2269	1394	419	1193	1281	-506	2712
				Banks			-701	-306	-236	-352	5	125	225
				Other sectors			704	-432	635	467	-200	-398	-69
			Money-market instruments				0	0	0	0	0	0	11
				Monetary  Authorities			0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0
				Banks			0	0	0	0	0	0	0
				Other sectors			0	0	0	0	0	0	11
	Notes:    Balance is derived by deducting assets from liabilities.
			r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
9	FINANCIAL DERIVATIVES
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	FINANCIAL DERIVATIVES						8	44	-15	-21	-64	-27	-43
		Monetary  Authorities					0	0	0	0	0	0	0
		General  Government					0	0	0	0	0	0	0
		Banks					8	44	-15	-21	-64	-27	-43
		Other sectors					0	0	0	0	0	0	0
		ASSETS					-51	-166	-83	-85	-54	-58	-98
			Monetary  Authorities				0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
			Banks				-51	-166	-83	-85	-54	-58	-98
			Other sectors				0	0	0	0	0	0	0
		LIABILITIES					-43	-122	-98	-106	-118	-85	-141
			Monetary  Authorities				0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
			Banks				-43	-122	-98	-106	-118	-85	-141
			Other sectors				0	0	0	0	0	0	0
10	OTHER INVESTMENT
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	OTHER INVESTMENT						-415	1619	-498	-1173	-14	-16	-3134
		ASSETS :  Residents' Investments Abroad					1051	-2455	-761	256	-743	859	4795
		Trade credits					0	0	3	3	9	3	17
			General government				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			Other sectors				0	0	3	3	9	3	17
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	3	3	9	3	17
		Loans					257	-1307	832	344	-233	-156	1862
			Monetary authorities				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			General government				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			Banks				245	-1320	829	346	-225	-351	1407
				Long-term			-120	-9	7	95	32	-57	-47
				Short-term			365	-1311	822	251	-257	-294	1454
			Other sectors				12	13	3	-2	-8	195	455
				Long-term			4	-1	31	13	-19	16	-2
				Short-term			8	14	-28	-15	11	179	457
		Currency and deposits					2367	-2294	-1095	-1088	-1286	937	3401
			Monetary  Authorities				0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
			Banks				2176	-2187	-1247	-1102	-907	818	2733
			Other sectors				191	-107	152	14	-379	119	668
		Other  Assets					-1573	1146	-501	997	767	75	-485
			Monetary authorities				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			General government				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			Banks				-1483	1237	-491	997	762	76	-497
				Long-term			0	0	0	0	0	0	0
				Short-term			-1483	1237	-491	997	762	76	-497
			Other sectors				-90	-91	-10	0	5	-1	12
				Long-term			0	0	0	0	0	0	0
				Short-term			-90	-91	-10	0	5	-1	12
		LIABILITIES : Non-residents' Investments in the Phils					636	-836	-1259	-917	-757	843	1661
		Trade credits					-128	-510	-371	-31	125	380	-140
			General government				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
					Drawings		0	0	0	0	0	0	0
					Repayments		0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			Other sectors				-128	-510	-371	-31	125	380	-140
				Long-term			-267	-357	-243	155	-186	-11	50
					Drawings		-286	-321	112	-5	-115	22	9
					Repayments		-19	36	355	-160	71	33	-41
				Short-term			139	-153	-128	-186	311	391	-190
		Loans					1706	-21	-711	189	-543	-480	1581
			Monetary authorities				-15	50	116	-40	195	-4	60
				Other long-term			-15	50	116	-40	195	-4	60
					Drawings		235	105	177	118	330	229	106
					Repayments		250	55	61	158	135	233	46
			General government				269	-184	-65	90	-64	-362	-500
				Long-term			269	-184	-65	90	-64	-362	-500
					Drawings		1466	934	930	1174	1238	913	900
					Repayments		1197	1118	995	1084	1302	1275	1400
				Short-term			0	0	0	0	0	0	0
			Banks				593	-284	-647	920	-79	276	1099
				Long-term			0	0	0	0	525	50	0
					Drawings		0	0	0	0	525	50	0
					Repayments		0	0	0	0	0	0	0
				Short-term			593	-284	-647	920	-604	226	1099
			Other sectors				859	397	-115	-781	-595	-390	922
				Long-term			768	572	0	-813	-689	-287	-102
					Drawings		2269	1898	1756	876	1232	1560	2023
					Repayments		1501	1326	1756	1689	1921	1847	2125
				Short-term			91	-175	-115	32	94	-103	1024
					Others		91	-175	-115	32	94	-103	1024
		Currency and deposits					-890	-473	775	-1144	-341	868	147
			Monetary  Authorities				0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
			Banks				-728	-200	826	-933	-373	883	-192
			Other sectors				-162	-273	-51	-211	32	-15	339
		Other  Liabilities					-52	168	-952	69	2	75	73
			Monetary  Authorities				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0
			Banks				-49	159	-931	62	-1	74	57
				Long-term			0	0	0	0	0	0	0
				Short-term			-49	159	-931	62	-1	74	57
			Other sectors				-3	9	-21	7	3	1	16
				Long-term			0	0	0	0	0	0	0
				Short-term			-3	9	-21	7	3	1	16
	Notes:    Balance is derived by deducting assets from liabilities.
			r/  Revised to reflect:  a) late reports; b) post audit adjustments; and c) final data from companies.
11 OVERALL BOP POSITION: TRANSACTIONS IN RESERVE ASSETS AND LIABILITIES 1/
	in million U.S. dollars
							1999 r/	2000 r/	2001 r/	2002 r/	2003 r/	2004 r/	2005 r/
	CHANGE IN NET RESERVES						3591	-509	-202	810	115	-280	2410
	CHANGE IN RESERVE ASSETS						3955	-90	471	-253	-355	-1637	1601
		Monetary  gold					-23	22	-1	-9	-460	-955	-1415
		Special drawing rights					18	-19	13	-5	-8	-1	-1
		Reserves position in the Fund					-1	-6	2	0	0	0	0
		Foreign Exchange					3961	-87	457	-239	113	-681	3017
			Currency and deposits				1102	999	-620	-1929	-291	710	608
				With monetary authorities			0	0	0	0	0	0	0
				With banks			0	0	0	0	0	0	0
			Securities				2859	-1086	1077	1690	404	-1391	2409
				Equities			0	0	0	0	0	0	0
				Bonds and notes			2859	-1086	1077	1690	404	-1391	2409
				Money market instruments			0	0	0	0	0	0	0
					and financial derivatives
		Other claims					0	0	0	0	0
	CHANGE IN RESERVE LIABILITIES						364	419	673	-1063	-470	-1357	-809
		Use of Fund Credit and loans					289	304	-8	-407	-608	-471	-321
		Short-term					75	115	681	-656	138	-886	-488
	Notes:   Balance is derived by deducting liabilities from assets.
	1/ - Revised to reflect the reclassification of released collaterals on Brady Bonds from non-IR to IR-eligible assets of the BSP.
	This is in line with the treatment of foreign investments under R.A. 7653 (New CB Act), which allows investments in securities even
	for maturities over 5 years to be included as part of the GIR.