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  
      Goods, Net -4020 -3211 -4695 -6222 -7850 -8944 -11342 -11127 -28 -6207  
          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