1	PHILIPPINES:  BALANCE OF PAYMENTS
	in million U.S. dollars
							1999	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	CURRENT ACCOUNT						-2874	-2225	-1744	-279	288	1628	1984	5347	7119	3897
	(Totals as percent of GNP)						-3.6	-2.8	-2.3	-0.3	0.3	1.7	1.9	4.2	4.5	2.1
	(Totals as percent of GDP)						-3.8	-2.9	-2.4	-0.4	0.4	1.9	2.0	4.5	4.9	2.3
	Goods  and  Services						-7597	-7841	-8553	-7532	-7814	-7461	-9113	-6595	-6142	-11469
		(Totals as percent of GNP)					-9.5	-9.7	-11.3	-9.2	-9.1	-8.0	-8.5	-5.2	-3.9	-6.2
		(Totals as percent of GDP)					-10.0	-10.3	-12.0	-9.8	-9.8	-8.6	-9.2	-5.6	-4.3	-6.9
		Export					37711	40724	34385	37831	38728	42837	44788	52970	59278	58448
		Import					45308	48565	42938	45363	46542	50298	53901	59565	65420	69917
		Goods					-5977	-5971	-6265	-5530	-5851	-5684	-7773	-6732	-8391	-12885
		(Totals as percent of GNP)					-7.4	-7.4	-8.2	-6.8	-6.8	-6.1	-7.3	-5.3	-5.4	-6.9
		(Totals as percent of GDP)					-7.8	-7.9	-8.8	-7.2	-7.3	-6.5	-7.9	-5.7	-5.8	-7.7
			Credit: Exports				34243	37347	31313	34403	35339	38794	40263	46526	49512	48253
			Debit:   Imports 1/				40220	43318	37578	39933	41190	44478	48036	53258	57903	61138
		Services					-1620	-1870	-2288	-2002	-1963	-1777	-1340	137	2249	1416
			Credit: Exports				3468	3377	3072	3428	3389	4043	4525	6444	9766	10195
			Debit:   Imports				5088	5247	5360	5430	5352	5820	5865	6307	7517	8779
	Income						-1061	-27	-51	-427	-284	-71	-294	-1255	-892	140
		Credit:   Receipts					2723	3336	3553	3306	3330	3725	3937	4388	5351	5973
		Debit:     Payments					3784	3363	3604	3733	3614	3796	4231	5643	6243	5833
	Current  Transfers						5784	5643	6860	7680	8386	9160	11391	13197	14153	15226
		Credit:   Receipts					5969	5909	7119	7948	8626	9420	11711	13511	14573	15781
		Debit:     Payments					185	266	259	268	240	260	320	314	420	555
	CAPITAL  AND  FINANCIAL  ACCOUNT						4185	3363	911	1056	726	-1630	2229	20	3527	-1898
	Capital  Account						163	138	62	27	54	17	40	138	24	53
		Credit:    Receipts					270	168	86	50	82	46	58	181	108	114
		Debit:      Payments					107	30	24	23	28	29	18	43	84	61
	Financial  Account						4022	3225	849	1029	672	-1647	2189	-118	3503	-1951
		Direct Investment					1114	2115	335	1477	188	109	1665	2818	-620	1144
			Debit: Assets, Residents'  Investments Abroad				133	125	-140	65	303	579	189	103	3536	259
			Credit: Liabilities, Non-Residents'				1247	2240	195	1542	491	688	1854	2921	2916	1403
				Investments in the Phil.
		Portfolio Investment					3315	-553	1027	746	562	-1713	3475	3043	4623	-3799
			Debit: Assets, Residents'  Investments Abroad				603	812	57	628	818	910	146	1567	-834	-619
			Credit: Liabilities, Non-Residents'				3918	259	1084	1374	1380	-803	3621	4610	3789	-4418
				Investments in the Phil.
		Financial Derivatives					8	44	-15	-21	-64	-27	-43	-138	-288	-113
			Debit: Assets, Residents'  Investments Abroad				-51	-166	-83	-85	-54	-58	-98	-159	-170	-541
			Credit: Liabilities, Non-Residents'				-43	-122	-98	-106	-118	-85	-141	-297	-458	-654
				Investments in the Phil.
		Other Investment					-415	1619	-498	-1173	-14	-16	-2908	-5841	-212	817
			Debit: Assets, Residents'  Investments Abroad				1051	-2455	-761	256	-743	859	4791	3512	4840	-4395
			Credit: Liabilities, Non-Residents'				636	-836	-1259	-917	-757	843	1883	-2329	4628	-3578
				Investments in the Phil.
	NET UNCLASSIFIED ITEMS						2280	-1647	631	33	-899	-278	-1803	-1598	-2089	-1910
	OVERALL BOP POSITION						3591	-509	-202	810	115	-280	2410	3769	8557	89
	(Totals as percent of GNP)						4.5	-0.6	-0.3	1.0	0.1	-0.3	2.3	3.0	5.5	0.0
	(Totals as percent of GDP)						4.7	-0.7	-0.3	1.1	0.1	-0.3	2.4	3.2	5.9	0.1
	Debit: Change in Reserve Assets						3955	-90	471	-253	-355	-1637	1621	2934	8550	1597
	Credit: Change in Reserve Liabilities						364	419	673	-1063	-470	-1357	-789	-835	-7	1508
		Use of Fund Credits					289	304	-8	-407	-608	-471	-321	-402	0	0
		Short-term					75	115	681	-656	138	-886	-468	-433	-7	1508
	Memo Items:
		Change in Commercial Banks' (KBs)					-1835	891	-337	-604	-542	-152	-1531	-4368	-1025	2852
			Net Foreign Assets (NFA)
		OF Cash Remittances					6022	6050	7721	8607	9093	10261	12292	14037	14956	17004
			of which channeled thru the banking system				*	*	6031	6886	7579	8551	10689	12761	14450	16428
		Basic Balance					-718	163	-1592	488	234	1154	3211	5519	8859	3555
		Net Unclassified Items as Percent of total Trade					3.1	-2.0	0.9	0.0	-1.2	-0.3	-2.0	-1.6	-1.9	-1.7
	*    -  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).
	1/  - Valuation adjustments include:
	a.)  adjustments to NSO's raw material imports for electronics exports' for the 1999 - 2001 and 2006-2008 series
	b.)  Adjustments to NSO's raw material imports for garments for the 1999 - 2008 series.
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	GOODS						-5977	-5971	-6265	-5530	-5851	-5684	-7773	-6732	-8391	-12885
		EXPORTS					34243	37347	31313	34403	35339	38794	40263	46526	49512	48253
		IMPORTS					40220	43318	37578	39933	41190	44478	48036	53258	57903	61138
	General Merchandise						-7940	-8502	-8219	-7716	-8181	-8402	-10157	-9068	-10422	-14295
		General Merchandise Exports, fob					18068	21533	19339	21306	23345	25642	25892	31994	33585	34545
			Exports of goods in trade statistics, fob				35037	38078	32150	35207	36230	39681	41255	47409	50465	49077
			Adjustments				-16969	-16545	-12811	-13901	-12885	-14039	-15363	-15415	-16880	-14532
					For  Coverage		-794	-731	-837	-804	-891	-887	-992	-883	-953	-824
					For  Classification		-16175	-15814	-11974	-13097	-11994	-13152	-14371	-14532	-15927	-13708
					For  Valuation		0	0	0	0	0	0	0	0	0	0
					For  Timing		n.a	n.a	n.a	n.a	n.a	n.a.	n.a.	n.a.	n.a.	n.a.
		General Merchandise Imports, fob					26008	30035	27558	29022	31526	34044	36049	41062	44007	48840
			Imports of goods in trade statistics, fob				30742	34491	33057	39237	40469	44041	47417	51773	55516	56746
			Adjustments				-4734	-4456	-5499	-10215	-8943	-9997	-11368	-10711	-11509	-7906
					For  Coverage		-1024	-509	-434	-433	-335	-543	-492	-354	263	582
					For  Classification		-14212	-13283	-10020	-10911	-9664	-10434	-11987	-12196	-13896	-12298
					For  Valuation		10502	9336	4955	1129	1056	980	1111	1839	2124	3810
					For  Timing		n.a	n.a	n.a	n.a	n.a	n.a.	n.a.	n.a.	n.a.	n.a.
	Goods for processing:  (On consignment)						1308	2287	1837	2169	2282	2717	2537	2302	2027	1562
		Exports					15440	15550	11801	12956	11802	12992	14231	14136	15429	13113
		Imports					14132	13263	9964	10787	9520	10275	11694	11834	13402	11551
		Processing Abroad:					0	0	0	0	0	0	0	0	0	0
			Exports				0	0	0	0	0	0	0	0	0	0
			Imports				0	0	0	0	0	0	0	0	0	0
		Processing in the compiling economy					1308	2287	1837	2169	2282	2717	2537	2302	2027	1562
			Exports				15440	15550	11801	12956	11802	12992	14231	14136	15429	13113
			Imports				14132	13263	9964	10787	9520	10275	11694	11834	13402	11551
	Repairs on goods:						417	14	-12	-53	-52	-45	-42	0	-44	-50
		Exports					476	14	38	0	3	0	0	0	12	0
		Imports					59	0	50	53	55	45	42	0	56	50
	Goods procured in ports by  carriers						46	63	41	-16	7	14	-119	-122	-217	-540
		Exports					46	63	41	35	58	91	70	122	221	157
		Imports					0	0	0	51	51	77	189	244	438	697
	Nonmonetary  Gold						192	167	88	86	93	32	8	156	265	438
		Exports					213	187	94	106	131	69	70	274	265	438
		Imports					21	20	6	20	38	37	62	118	0	0
		Held as a store of value  (Gold Bullion)					165	144	62	71	102	40	24	178	174	322
			Exports				165	144	62	71	102	40	24	178	174	322
			Imports				0	0	0	0	0	0	0	0	0	0
		Others (Industrial Gold)					27	23	26	15	-9	-8	-16	-22	91	116
			Exports				48	43	32	35	29	29	46	96	91	116
			Imports				21	20	6	20	38	37	62	118	0	0
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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	SERVICES						-1620	-1870	-2288	-2002	-1963	-1777	-1340	137	2249	1416
		EXPORTS					3468	3377	3072	3428	3389	4043	4525	6444	9766	10195
		IMPORTS					5088	5247	5360	5430	5352	5820	5865	6307	7517	8779
	Transportation						-1704	-1588	-1429	-1426	-1468	-2094	-2163	-2301	-2521	-2907
		Exports					307	464	590	877	951	1001	962	1151	1323	1368
		Imports					2011	2052	2019	2303	2419	3095	3125	3452	3844	4275
		of which: Passenger					-58	-21	62	9	41	122	222	192	195	37
			Exports				74	178	269	257	277	373	490	518	587	602
			Imports				132	199	207	248	236	251	268	326	392	565
		of which: Freight					-1503	-1438	-1390	-1278	-1397	-2178	-2338	-2492	-2712	-2944
			Exports				106	115	98	488	543	499	353	474	503	483
			Imports				1609	1553	1488	1766	1940	2677	2691	2966	3215	3427
		of which: Other					-143	-129	-101	-157	-112	-38	-47	-1	-4	0
			Exports				127	171	223	132	131	129	119	159	233	283
			Imports				270	300	324	289	243	167	166	160	237	283
	Travel						973	514	31	135	131	742	986	2269	3270	2175
		Exports					2578	2156	1742	1761	1544	2017	2265	3501	4933	4388
		Imports					1605	1642	1711	1626	1413	1275	1279	1232	1663	2213
	Communication  services						83	121	256	293	352	359	407	477	418	257
		Exports					139	182	328	378	433	487	522	575	517	404
		Imports					56	61	72	85	81	128	115	98	99	147
	Construction  services						-108	-27	-235	-93	-16	23	59	54	92	57
		Exports					58	97	64	30	48	71	66	69	113	90
		Imports					166	124	299	123	64	48	7	15	21	33
	Insurance  services						-127	-143	-136	-163	-170	-187	-186	-209	-229	-243
		Exports					12	12	12	12	12	12	17	21	22	19
		Imports					139	155	148	175	182	199	203	230	251	262
	Financial  services						36	47	-16	-38	-16	-34	-40	-24	-123	-23
		Exports					67	80	40	32	38	43	53	101	87	59
		Imports					31	33	56	70	54	77	93	125	210	82
	Computer and Information  services						-45	-23	-64	-43	-18	-16	27	28	243	320
		Exports					57	76	22	37	28	33	89	95	305	400
		Imports					102	99	86	80	46	49	62	67	62	80
	Royalties and license fees						-104	-190	-158	-235	-274	-262	-259	-343	-380	-382
		Exports					6	7	1	1	4	11	6	6	5	0
		Imports					110	197	159	236	278	273	265	349	385	382
	Other business services						-541	-495	-453	-378	-448	-249	-114	263	1605	2376
		Exports					225	285	258	293	322	361	525	898	2439	3446
		Imports					766	780	711	671	770	610	639	635	834	1070
		Merchanting and other trade-related services					76	59	24	22	8	17	14	24	18	29
			Exports				76	59	24	22	8	17	14	24	18	29
			Imports				0	0	0	0	0	0	0	0	0	0
		Operational leasing services					-71	-82	-85	-72	-55	-53	-48	-61	-86	-121
			Exports				15	23	10	9	11	4	5	9	10	13
			Imports				86	105	95	81	66	57	53	70	96	134
		Misc. business, professional					-546	-472	-392	-328	-401	-213	-80	300	1673	2468
			and technical services
			Exports				134	203	224	262	303	340	506	865	2411	3404
			Imports				680	675	616	590	704	553	586	565	738	936
	Personal, cultural and recreational services						-8	-14	-22	-10	-6	-8	11	19	0	-5
		Exports					19	18	15	7	9	7	20	27	22	21
		Imports					27	32	37	17	15	15	9	8	22	26
		Audio-Visual and related services					-3	-9	-10	-10	-5	-4	14	19	2	-9
			Exports				14	15	6	6	9	7	19	24	15	8
			Imports				17	24	16	16	14	11	5	5	13	17
		Other personal, cultural and					-5	-5	-12	0	-1	-4	-3	0	-2	4
			recreational services
			Exports				5	3	9	1	0	0	1	3	7	13
			Imports				10	8	21	1	1	4	4	3	9	9
	Government services, n.i.e.						-75	-72	-62	-44	-30	-51	-68	-96	-126	-209
			Exports				0	0	0	0	0	0	0	0	0	0
			Imports				75	72	62	44	30	51	68	96	126	209
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	INCOME						-1061	-27	-51	-427	-284	-71	-294	-1255	-892	140
		RECEIPTS					2723	3336	3553	3306	3330	3725	3937	4388	5351	5973
		PAYMENTS					3784	3363	3604	3733	3614	3796	4231	5643	6243	5833
	Compensation of emp. incl. border,						1481	1763	2432	2568	2558	2851	2893	2758	3030	4092
		seasonal, and other workers
		Receipts					1481	1763	2432	2568	2558	2851	2893	2758	3030	4092
		Payments					0	0	0	0	0	0	0	0	0	0
	Investment Income						-2542	-1790	-2483	-2995	-2842	-2922	-3187	-4013	-3922	-3952
		Receipts					1242	1573	1121	738	772	874	1044	1630	2321	1881
		Payments					3784	3363	3604	3733	3614	3796	4231	5643	6243	5833
		Direct Investment Income					-801	-173	-670	-1192	-1047	-1346	-1372	-1962	-2085	-1636
			Receipts				35	57	13	19	20	27	19	53	48	32
			Payments				836	230	683	1211	1067	1373	1391	2015	2133	1668
			Income on Equity				-761	-117	-588	-1111	-987	-1295	-1281	-1875	-1914	-1536
				Receipts			35	57	10	19	20	18	17	53	44	28
				Payments			796	174	598	1130	1007	1313	1298	1928	1958	1564
				Dividends and distributed			-312	-451	-846	-876	-819	-1154	-1141	-1390	-1294	-1630
					branch profits
					Receipts		35	57	10	19	20	18	17	53	44	28
					Payments		347	508	856	895	839	1172	1158	1443	1338	1658
				Reinvested earnings and			-449	334	258	-235	-168	-141	-140	-485	-620	94
					undistributed branch profits
					Receipts		0	0	0	0	0	0	0	0	0	0
					Payments		449	-334	-258	235	168	141	140	485	620	-94
			Income on debt (interest)				-40	-56	-82	-81	-60	-51	-91	-87	-171	-100
				Receipts			0	0	3	0	0	9	2	0	4	4
				Payments			40	56	85	81	60	60	93	87	175	104
		Portfolio  Investment Income					-690	-521	-520	-720	-766	-685	-924	-1053	-966	-1311
			Receipts				416	605	634	424	532	596	625	802	1359	1259
			Payments				1106	1126	1154	1144	1298	1281	1549	1855	2325	2570
			Income on Equity (dividends)				-22	-8	-23	-20	-50	-70	-163	-391	-665	-952
				Receipts			16	8	6	0	0	0	1	2	7	9
				Payments			38	16	29	20	50	70	164	393	672	961
				Monetary authorities			0	0	0	0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0	0	0	0
				General government			0	0	0	0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0	0	0	0
				Banks			0	0	0	0	0	0	-5	-14	-30	-109
					Receipts		0	0	0	0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	5	14	30	109
				Other sectors			-22	-8	-23	-20	-50	-70	-158	-377	-635	-843
					Receipts		16	8	6	0	0	0	1	2	7	9
					Payments		38	16	29	20	50	70	159	379	642	852
			Income on debt (interest)				-668	-513	-497	-700	-716	-615	-761	-662	-301	-359
				Receipts			400	597	628	424	532	596	624	800	1352	1250
				Payments			1068	1110	1125	1124	1248	1211	1385	1462	1653	1609
				Bonds and notes			-614	-510	-529	-709	-772	-723	-810	-722	-314	-360
					Receipts		395	581	584	412	476	487	575	740	1338	1249
					Payments		1009	1091	1113	1121	1248	1210	1385	1462	1652	1609
					Monetary authorities		180	305	304	141	267	217	363	562	681	923
						Receipts	266	443	417	297	417	360	477	576	701	954
						Payments	86	138	113	156	150	143	114	14	20	31
					General government		-494	-477	-475	-537	-670	-688	-870	-1071	-1128	-1139
						Receipts	0	0	0	0	0	0	0	0	0	0
						Payments	494	477	475	537	670	688	870	1071	1128	1139
					Banks		0	0	0	0	0	0	0	0	-75	-59
						Receipts	0	0	0	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0	0	75	59
					Other sectors		-300	-338	-358	-313	-369	-252	-303	-213	208	-85
						Receipts	129	138	167	115	59	127	98	164	637	295
						Payments	429	476	525	428	428	379	401	377	429	380
				Money market instruments			-54	-3	32	9	56	108	49	60	13	1
					Receipts		5	16	44	12	56	109	49	60	14	1
					Payments		59	19	12	3	0	1	0	0	1	0
					Monetary authorities		0	0	0	0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0	0	0	0
												0	0	0	0	0
					General government		0	0	0	0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0	0	0	0
												0	0	0	0	0
					Banks		0	0	0	0	0	0	0	0	0	0
						Receipts	0	0	0	0	0	0	0	0	0	0
						Payments	0	0	0	0	0	0	0	0	0	0
					Other sectors		-54	-3	32	9	56	108	49	60	13	1
						Receipts	5	16	44	12	56	109	49	60	14	1
						Payments	59	19	12	3	0	1	0	0	1	0
		Other investment Income					-1051	-1096	-1293	-1083	-1029	-891	-891	-998	-871	-1005
			Receipts				791	911	474	295	220	251	400	775	914	590
			Payments				1842	2007	1767	1378	1249	1142	1291	1773	1785	1595
			Monetary authorities				129	227	-31	-21	-7	11	93	275	402	200
				Receipts			313	472	232	116	78	89	167	348	411	206
				Payments			184	245	263	137	85	78	74	73	9	6
			General government				-803	-615	-602	-456	-444	-358	-465	-424	-468	-463
				Receipts			0	0	0	0	0	0	0	0	0	0
				Payments			803	615	602	456	444	358	465	424	468	463
			Banks				25	-70	-102	-122	-101	-79	-152	-425	-252	-125
				Receipts			444	410	206	130	106	104	145	310	409	339
				Payments			419	480	308	252	207	183	297	735	661	464
			Other sectors				-402	-638	-558	-484	-477	-465	-367	-424	-553	-617
				Receipts			34	29	36	49	36	58	88	117	94	45
				Payments			436	667	594	533	513	523	455	541	647	662
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	CURRENT TRANSFERS						5784	5643	6860	7680	8386	9160	11391	13197	14153	15226
		RECEIPTS					5969	5909	7119	7948	8626	9420	11711	13511	14573	15781
		PAYMENTS					185	266	259	268	240	260	320	314	420	555
		General government					433	442	471	497	555	387	437	313	506	292
			Receipts				495	503	533	563	620	460	530	424	625	451
			Payments				62	61	62	66	65	73	93	111	119	159
		Other sectors					5351	5201	6389	7183	7831	8773	10954	12884	13647	14934
			Receipts				5474	5406	6586	7385	8006	8960	11181	13087	13948	15330
			Payments				123	205	197	202	175	187	227	203	301	396
			Workers' remittances				5212	5161	6328	7167	7681	8617	10668	12481	13255	14537
				Receipts			5212	5161	6328	7167	7681	8617	10668	12481	13255	14537
				Payments			0	0	0	0	0	0	0	0	0	0
			Other transfers				139	40	61	16	150	156	286	403	392	397
				Receipts			262	245	258	218	325	343	513	606	693	793
				Payments			123	205	197	202	175	187	227	203	301	396
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008
	CAPITAL ACCOUNT						163	138	62	27	54	17	40	138	24	53
		RECEIPTS					270	168	86	50	82	46	58	181	108	114
		PAYMENTS					107	30	24	23	28	29	18	43	84	61
		Capital transfers					164	138	62	27	54	25	42	138	66	55
			Receipts				270	168	86	50	82	46	58	181	108	114
			Payments				106	30	24	23	28	21	16	43	42	59
			General government				221	122	77	48	41	41	41	61	81	91
				Receipts			221	122	77	48	41	41	41	61	81	91
				Payments			0	0	0	0	0	0	0	0	0	0
				Debt  forgiveness			0	0	0	0	0	0	0	0	0	0
					Receipts		0	0	0	0	0	0	0	0	0	0
					Payments		0	0	0	0	0	0	0	0	0	0
				Other			221	122	77	48	41	41	41	61	81	91
					Receipts		221	122	77	48	41	41	41	61	81	91
					Payments		0	0	0	0	0	0	0	0	0	0
			Other sectors				-57	16	-15	-21	13	-16	1	77	-15	-36
				Receipts			49	46	9	2	41	5	17	120	27	23
				Payments			106	30	24	23	28	21	16	43	42	59
				Migrants transfers			-1	16	-15	-21	-14	-14	-10	-8	-18	-30
					Receipts		24	37	9	0	4	3	5	12	17	14
					Payments		25	21	24	21	18	17	15	20	35	44
				Debt  forgiveness			0	0	0	0	0	0	0	91	0	3
					Receipts		0	0	0	0	0	0	0	91	0	3
					Payments		0	0	0	0	0	0	0	0	0	0
				Other			-56	0	0	0	27	-2	11	-6	3	-9
					Receipts		25	9	0	2	37	2	12	17	10	6
					Payments		81	9	0	2	10	4	1	23	7	15
		Acquisition/disposal of nonproduced,					-1	0	0	0	0	-8	-2	0	-42	-2
			nonfinancial assets
			Receipts				0	0	0	0	0	0	0	0	0	0
			Payments				1	0	0	0	0	8	2	0	42	2
7	DIRECT INVESTMENT
	in million U.S. dollars
							1999	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	DIRECT INVESTMENT						1114	2115	335	1477	188	109	1665	2818	-620	1144
		ASSETS :  Residents' Investments Abroad					133	125	-140	65	303	579	189	103	3536	259
		Equity  capital					133	125	-140	65	303	579	189	103	3536	259
			Claims on affiliated enterprises				133	125	-140	65	303	579	189	103	3536	259
			Liabilities to affiliated enterprises				n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
		Reinvested earnings					n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
		Other Capital					n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
			Claims on affiliated enterprises				n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
			Liabilities to affiliated enterprises				n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
		LIABILITIES : Non-residents' Investments					1247	2240	195	1542	491	688	1854	2921	2916	1403
			in the Philippines
		Equity  capital					1178	1333	556	1607	249	750	1181	1324	1949	1236
			Claims on direct investors				n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
			Liabilities to direct investors				1178	1333	556	1607	249	750	1181	1324	1949	1236
				Placement			1305	1525	773	1732	940	963	1369	1737	2169	1451
				Withdrawals			127	192	217	125	691	213	188	413	220	215
		Reinvested earnings					449	-334	-258	235	168	141	140	485	620	-94
			Claims				0	0	0	0	0	0	0	0	0	0
			Liabilities				449	-334	-258	235	168	141	140	485	620	-94
		Other Capital					-380	1241	-103	-300	74	-203	533	1112	347	261
			Claims on direct investors				582	-753	565	227	1	-96	-190	-214	329	-108
			Liabilities to direct investors				202	488	462	-73	75	-299	343	898	676	153
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	PORTFOLIO INVESTMENT						3315	-553	1027	746	562	-1713	3475	3043	4623	-3799
		ASSETS :  Residents' Investments Abroad					603	812	57	628	818	910	146	1567	-834	-619
		Equity  securities					55	42	-30	8	48	18	5	-1	79	-75
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
			Banks				0	0	-3	1	2	6	1	-2	-5	-14
			Other sectors				55	42	-27	7	46	12	4	1	84	-61
				Placements			75	219	4	14	46	115	4	2	105	102
				Withdrawals			20	177	31	7	0	103	0	1	21	163
		Debt  securities					548	770	87	620	770	892	141	1568	-913	-544
			Bonds and notes				548	770	238	-238	698	183	428	1272	-87	10
				Monetary  Authorities			0	0	0	0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0	0	0	0
				Banks			122	341	215	-314	613	155	-353	1224	430	-455
				Other sectors			426	429	23	76	85	28	781	48	-517	465
			Money-market instruments				0	0	-151	858	72	709	-287	296	-826	-554
				Monetary  Authorities			0	0	0	0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0	0	0	0
				Banks			0	0	-76	661	-49	668	-352	693	-758	-605
				Other sectors			0	0	-75	197	121	41	65	-397	-68	51
		LIABILITIES : Non-residents' Investments in the Phils					3918	259	1084	1374	1380	-803	3621	4610	3789	-4418
		Equity  securities					489	-202	125	227	500	518	1465	2525	3178	-1289
			Banks				17	-4	3	-10	3	1	-1	324	115	-48
			Other sectors				472	-198	122	237	497	517	1466	2201	3063	-1241
				Placements			12294	3228	1123	1198	1311	1917	3827	5523	12510	6262
				Withdrawals			11822	3426	1001	961	814	1400	2361	3322	9447	7503
		Debt  securities					3429	461	959	1147	880	-1321	2156	2085	611	-3129
			Bonds and notes				3429	461	959	1147	880	-1321	2145	2055	629	-3128
				Monetary  Authorities			1157	-195	141	-161	-206	-542	-723	-41	91	-34
				General  Government			2269	1394	419	1193	1281	-506	2712	1272	385	-1068
				Banks			-701	-306	-236	-352	5	125	225	122	-89	-183
				Other sectors			704	-432	635	467	-200	-398	-69	702	242	-1843
			Money-market instruments				0	0	0	0	0	0	11	30	-18	-1
				Monetary  Authorities			0	0	0	0	0	0	0	0	0	0
				General  Government			0	0	0	0	0	0	0	0	0	0
				Banks			0	0	0	0	0	0	0	0	0	0
				Other sectors			0	0	0	0	0	0	11	30	-18	-1
	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	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	FINANCIAL DERIVATIVES						8	44	-15	-21	-64	-27	-43	-138	-288	-113
		Monetary  Authorities					0	0	0	0	0	0	0	0	0	0
		General  Government					0	0	0	0	0	0	0	0	0	0
		Banks					8	44	-15	-21	-64	-27	-43	-138	-288	86
		Other sectors					0	0	0	0	0	0	0	0	0	-199
		ASSETS					-51	-166	-83	-85	-54	-58	-98	-159	-170	-541
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
			Banks				-51	-166	-83	-85	-54	-58	-98	-159	-170	-439
			Other sectors				0	0	0	0	0	0	0	0	0	-102
		LIABILITIES					-43	-122	-98	-106	-118	-85	-141	-297	-458	-654
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
			Banks				-43	-122	-98	-106	-118	-85	-141	-297	-458	-353
			Other sectors				0	0	0	0	0	0	0	0	0	-301
	Note:    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
10	OTHER INVESTMENT
	in million U.S. dollars
							1999	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	OTHER INVESTMENT						-415	1619	-498	-1173	-14	-16	-2908	-5841	-212	817
		ASSETS :  Residents' Investments Abroad					1051	-2455	-761	256	-743	859	4791	3512	4840	-4395
		Trade credits					0	0	3	3	9	3	17	3	29	10
			General government				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			Other sectors				0	0	3	3	9	3	17	3	29	10
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	3	3	9	3	17	3	29	10
		Loans					257	-1307	832	344	-233	-156	1857	3129	1259	-3248
			Monetary authorities				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			General government				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			Banks				245	-1320	829	346	-225	-351	1407	1937	501	-1429
				Long-term			-120	-9	7	95	32	-57	-47	180	404	-248
				Short-term			365	-1311	822	251	-257	-294	1454	1757	97	-1181
			Other sectors				12	13	3	-2	-8	195	450	1192	758	-1819
				Long-term			4	-1	31	13	-19	16	-7	654	12	-591
				Short-term			8	14	-28	-15	11	179	457	538	746	-1228
		Currency and deposits					2367	-2294	-1095	-1088	-1286	937	3321	2257	3768	3547
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
			Banks				2176	-2187	-1247	-1102	-907	818	2750	1329	1958	3698
			Other sectors				191	-107	152	14	-379	119	571	928	1810	-151
		Other  Assets					-1573	1146	-501	997	767	75	-404	-1877	-216	-4704
			Monetary authorities				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			General government				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			Banks				-1483	1237	-491	997	762	76	-416	-1875	-215	-4700
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			-1483	1237	-491	997	762	76	-416	-1875	-215	-4700
			Other sectors				-90	-91	-10	0	5	-1	12	-2	-1	-4
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			-90	-91	-10	0	5	-1	12	-2	-1	-4
		LIABILITIES : Non-residents' Investments in the Phils					636	-836	-1259	-917	-757	843	1883	-2329	4628	-3578
		Trade credits					-128	-510	-371	-31	125	380	-59	239	632	-593
			General government				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
					Drawings		0	0	0	0	0	0	0	0	0	0
					Repayments		0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			Other sectors				-128	-510	-371	-31	125	380	-59	239	632	-593
				Long-term			-267	-357	-243	155	-186	-11	53	-25	-80	-62
					Drawings		-286	-321	112	-5	-115	22	4	18	130	0
					Repayments		-19	36	355	-160	71	33	-49	43	210	62
				Short-term			139	-153	-128	-186	311	391	-112	264	712	-531
		Loans					1706	-21	-711	189	-543	-480	1581	-2304	3293	-3415
			Monetary authorities				-15	50	116	-40	195	-4	60	-563	-194	0
				Other long-term			-15	50	116	-40	195	-4	60	-563	-194	0
					Drawings		235	105	177	118	330	229	106	0	0	0
					Repayments		250	55	61	158	135	233	46	563	194	0
			General government				269	-184	-65	90	-64	-362	-500	176	438	2
				Long-term			269	-184	-65	90	-64	-362	-500	176	438	2
					Drawings		1466	934	930	1174	1238	913	900	1526	1610	1197
					Repayments		1197	1118	995	1084	1302	1275	1400	1350	1172	1195
				Short-term			0	0	0	0	0	0	0	0	0	0
			Banks				593	-284	-647	920	-79	276	1099	-1182	415	-882
				Long-term			0	0	0	0	525	50	0	228	25	-1395
					Drawings		0	0	0	0	525	50	0	228	150	799
					Repayments		0	0	0	0	0	0	0	0	125	2194
				Short-term			593	-284	-647	920	-604	226	1099	-1410	390	513
			Other sectors				859	397	-115	-781	-595	-390	922	-735	2634	-2535
				Long-term			768	572	0	-813	-689	-287	-102	-1628	2851	-810
					Drawings		2269	1898	1756	876	1232	1560	2023	1200	5514	1900
					Repayments		1501	1326	1756	1689	1921	1847	2125	2828	2663	2710
				Short-term			91	-175	-115	32	94	-103	1024	893	-217	-1725
					Others		91	-175	-115	32	94	-103	1024	893	-217	-1725
		Currency and deposits					-890	-473	775	-1144	-341	868	147	-339	552	-158
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
			Banks				-728	-200	826	-933	-373	883	-192	-126	537	-376
			Other sectors				-162	-273	-51	-211	32	-15	339	-213	15	218
		Other  Liabilities					-52	168	-952	69	2	75	214	75	151	588
			Monetary  Authorities				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			General  Government				0	0	0	0	0	0	0	0	0	0
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			0	0	0	0	0	0	0	0	0	0
			Banks				-49	159	-931	62	-1	74	198	79	124	600
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			-49	159	-931	62	-1	74	198	79	124	600
			Other sectors				-3	9	-21	7	3	1	16	-4	27	-12
				Long-term			0	0	0	0	0	0	0	0	0	0
				Short-term			-3	9	-21	7	3	1	16	-4	27	-12
	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
	in million U.S. dollars
							1999	2000	2001	2002	2003	2004	2005	2006	2007	2008 r/
	CHANGE IN NET RESERVES						3591	-509	-202	810	115	-280	2410	3769	8557	89
	CHANGE IN RESERVE ASSETS						3955	-90	471	-253	-355	-1637	1621	2934	8550	1597
		Monetary  gold					-23	22	-1	-9	-460	-955	-1415	-944	-912	-385
		Special drawing rights					18	-19	13	-5	-8	-1	-1	0	-2	11
		Reserves position in the Fund					-1	-6	2	0	0	0	0	0	0	0
		Foreign Exchange					3961	-87	457	-239	113	-681	3037	3878	9464	1971
			Currency and deposits				1102	999	-620	-1929	-291	710	592	2886	2468	-8980
				With monetary authorities			n.a	n.a	n.a	n.a	n.a	n.a.	n.a.	n.a.	n.a.	n.a.
				With banks			n.a	n.a	n.a	n.a	n.a	n.a.	n.a.	n.a.	n.a.	n.a.
			Securities				2859	-1086	1077	1690	404	-1391	2445	992	6996	10951
				Equities			0	0	0	0	0	0	0	0	0	0
				Bonds and notes			2859	-1086	1077	1690	404	-1391	2445	992	6996	10951
				Money market instruments			0	0	0	0	0	0	0	0	0	0
					and financial derivatives
		Other claims					0	0	0	0	0	0	0	0	0	0
	CHANGE IN RESERVE LIABILITIES						364	419	673	-1063	-470	-1357	-789	-835	-7	1508
		Use of Fund Credit and loans					289	304	-8	-407	-608	-471	-321	-402	0	0
		Short-term					75	115	681	-656	138	-886	-468	-433	-7	1508
	Notes:   Balance is derived by deducting liabilities from assets.
	r/  - Revised to reflect post-audit adjustments