48 SELECTED ECONOMIC INDICATORS                                              
  ASIAN COUNTRIES                                              
  2013 - 2017                                              
                                                 
        Philippines     Malaysia   Indonesia   Thailand   Singapore   India   Korea   Taiwan   China   Vietnam  
                                                 
     I.  Real Sector  
         A.  Real GDP Growth Rate  2013 7.1 4.7 5.6 2.7 5.0 6.1 2.9 2.2 7.8 5.4  
                    (in percent) 2014 6.1 6.0 5.0 0.9 3.6 7.0 3.3 4.0 7.3 6.0  
  2015 6.1 5.0 4.9 2.9 1.9 7.5 2.6 0.7 6.9 6.7  
  2016 6.9 4.2 5.0 3.2 2.0 7.9 2.2 1.5 6.7 6.2  
  Q1 6.9 4.1 4.9 3.1 1.9 9.1 2.8 -0.2 6.7 5.6  
  Q2 7.1 4.0 5.2 3.6 1.9 7.9 2.2 1.1 6.7 5.6  
  Q3 7.1 4.3 5.0 3.2 1.2 7.5 1.1 2.1 6.7 6.6  
  Q4 6.6 4.5 4.9 3.0 2.9 7.0 2.6 2.8 6.8 6.8  
   
  2017 Q1 6.4 5.6 5.0 3.3 2.5 6.1 3.2 2.6 6.9 5.1  
  Q2 6.5 5.8 5.0 3.7 2.9 5.7 4.1 2.1 6.9 6.4  
  Q3 - - - - - - 5.3 - 6.8 -  
   
        B.  Nominal GDP Growth Rate  2013 9.3 4.9 10.8 4.6 4.8 12.9 3.8 3.7 10.2 10.4  
                    (in percent) 2014 9.5 8.6 10.7 2.2 3.1 11.8 4.0 5.8 8.2 9.9  
  2015 5.4 4.6 9.1 3.6 4.5 9.1 4.8 4.0 7.0 6.5  
  2016 8.7 6.3 7.6 5.1 0.5 10.8 4.7 2.1 8.0 7.4  
  Q1 7.7 4.8 7.4 4.2 0.0 11.9 4.3 1.5 7.0 5.1  
  Q2 8.9 5.4 7.2 5.6 0.1 10.4 4.9 1.9 7.3 6.1  
  Q3 9.4 6.6 7.1 5.2 -0.6 10.5 4.7 1.9 7.8 8.0  
  Q4 8.7 8.1 8.6 5.3 2.6 10.4 5.0 3.3 9.6 9.2  
   
  2017 Q1 9.3 11.6 10.1 6.7 4.9 12.5 5.6 0.9 11.8 9.6  
  Q2 9.0 10.3 9.5 5.3 4.1 9.3 5.8 0.4 11.1 9.5  
  Q3 - - - - - - - - 11.2 -  
   
        C.  Inflation Rates   2013 3.0 2.1 6.4 2.2 2.3 10.1 1.4 0.8 2.6 6.2  
               (in percent) 2014 4.1 3.1 6.4 1.9 1.0 6.7 1.3 1.2 2.0 4.1  
  2015 1.4 2.1 6.4 -0.9 -0.5 4.9 0.7 -0.3 1.4 0.6  
  2016 1.8 2.1 3.5 0.2 -0.5 5.0 1.0 -0.3 2.0 2.7  
  Q1 1.1 3.4 4.3 -0.5 -0.8 5.3 0.9 1.7 2.1 1.3  
  Q2 1.5 1.9 3.5 0.3 -1.0 5.7 0.8 1.3 2.1 2.2  
  Q3 2.0 1.3 3.0 0.3 -0.4 5.2 0.7 0.7 1.7 2.8  
  Q4 2.5 1.7 3.3 0.7 0.0 3.7 1.5 1.8 2.2 4.4  
   
  2017 Q1 3.2 4.3 3.6 1.3 0.6 3.6 2.1 1.8 1.4 5.0  
  Q2 3.1 4.0 4.3 0.1 0.9 2.2 1.9 0.6 1.4 3.3  
  Q3 3.2 3.8 3.8 0.4 0.5 3.0 2.3 0.7 1.6 3.1  
  Q4 3.5 a - 3.6 a 0.9 a - - - - - 3.0 a
   
        D.  Unemployment rate 2013 7.1 3.1 6.1 0.7 1.9 - 3.1 4.2 4.1 2.2  
                   (in percent) 2014 6.6 2.3 5.8 0.8 2.0 - 3.6 4.0 4.1 2.1  
  2015 6.3 3.1 5.8 0.9 1.9 - 3.6 3.8 4.1 2.3  
  2016 5.5 3.5 - 1.0 2.1 - 3.7 3.9 4.0 2.3  
  Q1 5.8 3.4 5.5 0.9 1.9 - 3.8 3.9 4.0 2.3  
  Q2 6.1 3.4 - 1.1 2.1 - 3.7 3.9 4.1 2.3  
  Q3 5.4 3.5 5.6 0.9 2.1 - 3.8 4.0 4.0 2.3  
  Q4 4.7 3.5 - 1.0 2.2 - 3.7 3.9 4.0 2.3  
   
  2017 Q1 6.6 3.5 - 1.2 2.3 - 3.8 3.8 4.0 2.3  
  Q2 5.7 3.4 - 1.2 2.2 - 3.8 3.7 4.0 2.3  
  Q3 5.6 - - 1.2 - - 3.7 3.8 4.0 2.2  
   
    II.  External Transactions 1  
        A.  Trade  (in million US dollars) 2013 56,698 228,428 182,553 228,499 419,938 314,803 559,632 311,428 2,210,665 132,033  
              1.  Exports 2014 62,102 234,085 176,294 227,462 415,378 322,480 572,665 315,381 2,343,220 150,217  
  2015 58,827 199,872 150,393 214,310 357,906 267,791 526,757 285,344 2,282,461 162,017  
  2016 57,406 189,575 144,433 215,388 338,084 264,304 495,426 280,321 2,136,595 176,581  
  Q1 13,347 44,076 33,603 53,844 76,645 64,956 115,187 62,656 464,144 38,784  
  Q2 13,986 46,857 35,965 51,458 86,088 65,717 126,024 68,629 534,001 43,460  
  Q3 15,185 48,278 34,848 55,247 86,121 66,185 121,853 71,274 557,732 46,313  
  Q4 14,888 50,364 40,075 54,838 89,229 67,446 132,361 77,762 580,718 48,024  
   
  2017 Q1 15,518 50,569 40,694 56,456 88,850 76,974 132,076 72,089 483,432 44,514  
  Q2 15,766 52,268 39,280 57,090 91,019 72,197 147,066 75,642 567,593 53,092  
  Q3 - 56,153 - 61,888 94,278 72,422 151,043 83,762 591,175 56,781  
   
  (Growth rates in percent) 2013 8.8 0.5 -3.9 -0.3 1.0 7.0 2.1 1.6 7.9 15.3  
  2014 9.5 2.5 -3.4 -0.5 -1.1 2.4 2.3 2.8 6.0 13.8  
  2015 -5.3 -14.6 -14.7 -5.8 -13.8 -17.0 -8.0 -10.9 -2.6 7.9  
  2016 -2.4 -5.2 -3.9 0.5 -5.5 -1.3 -5.9 -1.8 -6.4 9.0  
  Q1 -6.7 -12.9 -14.2 1.0 -16.0 -7.8 -13.7 -12.1 -9.7 6.6  
  Q2 -4.8 -7.3 -8.5 -3.8 -5.9 -1.9 -6.7 -6.2 -4.4 5.2  
  Q3 -1.8 -2.0 -5.3 1.0 -1.8 -0.8 -5.0 0.1 -6.7 9.1  
  Q4 3.6 1.9 14.0 3.8 1.9 6.0 1.8 11.7 -5.2 14.7  
   
  2017 Q1 16.3 14.7 21.1 4.9 15.9 18.5 14.7 15.1 4.2 14.8  
  Q2 12.7 11.5 9.2 10.9 5.7 9.5 16.7 10.2 6.3 22.2  
  Q3 16.3 - 12.0 9.5 13.3 24.0 17.5 6.0 22.6  
   
             2.  Imports 2013 62,411 205,978 186,628 250,416 388,053 466,911 515,470 278,010 1,949,302 132,033  
  2014 65,398 208,681 178,178 227,749 377,915 462,920 525,515 281,850 1,963,105 147,849  
  2015 71,067 175,903 142,695 202,653 308,098 393,830 436,499 237,219 1,680,808 165,570  
  2016 84,108 168,540 135,182 194,198 291,910 361,606 406,193 229,829 1,589,460 174,804  
  Q1 19,155 38,339 32,213 45,655 67,688 83,596 93,830 50,416 338,408 37,463  
  Q2 21,176 42,371 33,820 47,030 73,018 85,091 99,304 56,759 390,559 43,492  
  Q3 21,707 43,847 32,700 49,540 72,607 90,459 102,464 59,227 413,478 44,572  
  Q4 22,070 43,983 36,959 51,974 78,597 102,460 110,595 64,167 447,015 49,276  
   
  2017 Q1 22,053 46,321 36,606 52,404 77,495 104,825 116,326 61,303 417,320 46,651  
  Q2 22,249 46,710 36,094 54,173 79,080 112,124 117,903 63,593 446,014 53,647  
  Q3 - 49,897 - 56,627 81,932 107,136 120,708 65,982 473,925 53,828  
   
  (Growth rates in percent) 2013 0.5 4.8 -3.0 0.5 0.6 -4.9 -0.8 0.2 7.2 16.0  
  2014 4.8 1.3 -4.5 -9.1 -2.6 -0.9 1.9 1.4 0.7 12.0  
  2015 8.7 -15.7 -19.9 -11.0 -18.5 -14.9 -16.9 -15.8 -14.4 12.0  
  2016 18.3 -4.2 -5.3 -4.2 -5.3 -8.2 -6.9 -3.1 -5.4 5.6  
  Q1 12.1 -14.3 -12.3 -12.0 -11.5 -13.3 -16.0 -14.2 -13.3 -3.9  
  Q2 33.8 -5.9 -9.1 -8.5 -8.4 -14.8 -10.1 -7.7 -6.7 3.3  
  Q3 12.6 -0.1 -3.9 -1.7 -6.5 -11.7 -5.1 -0.4 -4.7 4.5  
  Q4 16.9 4.1 6.5 6.2 5.9 7.7 4.1 11.5 2.1 17.9  
   
  2017 Q1 15.1 20.8 13.6 14.8 14.5 25.4 24.0 21.6 23.3 24.5  
  Q2 5.1 10.2 6.7 15.2 8.3 31.8 18.7 12.0 14.2 23.3  
  Q3 - 13.8 - 14.3 12.8 18.5 17.8 11.4 14.6 20.8  
   
           3. Trade Balance 2013 -5,713 22,260 -4,076 -21,918 31,885 -152,108 44,162 33,418 261,363 0  
  2014 -3,296 25,274 -1,884 -287 37,463 -140,440 47,150 38,242 96,243 2,368  
  2015 -12,240 6,100 7,699 11,657 49,808 -126,039 90,258 48,124 601,653 -3,554  
  2016 -26,702 21,035 8,797 21,190 46,174 -97,302 89,233 50,492 547,135 -210  
  Q1 -5,808 5,737 1,389 8,189 8,957 -18,639 21,358 12,240 125,736 1,321  
  Q2 -7,190 4,486 2,145 4,429 13,070 -19,374 26,720 11,870 143,442 -32  
  Q3 -6,522 4,431 2,148 5,707 13,514 -24,274 19,389 12,048 144,254 1,741  
  Q4 -7,182 6,381 3,116 2,864 10,633 -35,014 21,766 13,596 133,702 -1,252  
   
  2017 Q1 -6,535 4,250 4,088 4,053 11,356 -27,851 15,751 10,786 66,112 -2,137  
  Q2 -6,482 5,558 3,186 2,918 11,940 -39,927 29,163 12,049 121,579 -555  
  Q3 - 6,256 - 5,261 12,346 -34,714 30,335 17,779 117,250 2,953  
   
                As percent of GDP 2013 -2.1 6.9 -0.4 -5.2 10.5 -8.2 3.4 6.5 2.7 0.0  
  2014 -1.2 7.5 -0.2 -0.1 12.2 -7.0 3.3 7.2 0.9 1.3  
  2015 -4.2 2.1 0.9 2.9 16.8 -6.1 6.6 9.2 5.5 -1.8  
  2016 -8.8 7.1 0.9 5.1 15.5 -4.4 6.3 9.4 4.9 -0.1  
  Q1 -8.4 8.3 0.6 8.2 12.5 -3.4 6.7 9.6 5.1 3.4  
  Q2 -9.2 6.0 0.9 4.2 17.6 -3.6 7.6 9.3 5.2 -0.1  
  Q3 -8.8 5.8 0.9 5.4 18.1 -4.4 5.2 8.9 5.0 3.3  
  Q4 -8.6 8.4 1.3 2.6 14.0 -6.2 5.9 9.8 4.3 -1.9  
   
  2017 Q1 -9.1 5.8 1.7 3.7 15.2 -4.5 4.5 7.8 2.5 -5.1  
  Q2 -8.2 7.3 1.3 2.7 15.8 -6.6 7.7 8.8 4.2 -1.1  
  Q3 - - - - - - - - 3.7 -  
   
      B.  Current Account   
            1.   Current Account Balance   2013 11,384 11,204 -29,109 -4,861 51,139 -49,226 81,148 51,284 148,204 9,471  
      (in million US dollars) 2014 10,756 14,846 -27,510 15,224 60,809 -27,315 84,373 61,849 236,047 9,360  
  2015 7,266 9,068 -17,519 32,113 53,695 -22,395 105,940 75,180 304,164 906  
  2016 -954 6,927 -16,769 48,237 56,656 -12,114 98,774 70,938 196,380 8,235  
  Q1 832 1,477 -4,708 16,794 11,323 -318 25,350 19,581 45,238 3,013  
  Q2 -1,256 768 -5,189 8,965 15,641 -382 26,337 16,970 65,101 1,642  
  Q3 -30 1,794 -4,974 11,718 16,833 -3,449 21,510 16,249 74,231 3,425  
  Q4 -500 2,888 -1,897 10,761 12,860 -7,964 25,578 19,452 11,810 155  
   
  2017 Q1 -248 p 1,186 -2,363 15,027 14,185 -3,433 19,431 16,392 18,389 -1,169  
  Q2 15 p 2,226 -4,963 7,413 15,121 -14,324 16,835 17,649 50,887 270  
  Q3 - - - - - - 25,527 - - -  
   
                         As percent of GDP 2013 4.2 3.5 -3.2 -1.2 16.9 -2.6 6.2 10.0 1.5 5.5  
  2014 3.8 4.4 -3.1 3.7 19.7 -1.4 6.0 11.7 2.3 5.0  
  2015 2.5 3.1 -2.0 8.0 18.1 -1.1 7.7 14.3 2.8 0.5  
  2016 -0.3 2.3 -1.8 11.8 19.1 -0.6 7.0 13.4 1.8 4.0  
  Q1 1.2 2.1 -2.2 16.8 15.8 -0.1 7.9 15.3 1.8 7.8  
  Q2 -1.6 1.0 -2.2 9.0 21.0 -0.1 7.5 13.3 2.4 3.5  
  Q3 0.0 2.3 -2.0 11.4 22.5 -0.6 5.8 12.0 2.6 6.5  
  Q4 -0.6 3.8 -0.8 10.3 16.9 -1.4 7.0 14.0 0.4 0.2  
   
  2017 Q1 -0.3 p 1.6 -1.0 13.9 19.0 -0.6 5.5 11.9 0.7 -2.8  
  Q2 . p 2.9 -2.0 6.9 20.0 -2.4 4.4 12.8 1.7 0.5  
  Q3 - - - - - - - - - -  
   
      C.  Financial Account   
            1.   Net Foreign Direct Investments Flows 2 2013 3,737 11,295 23,282 15,936 64,676 28,153 12,767 3,598 290,928 8,900  
      (in million US dollars) 2014 5,740 10,619 25,121 4,975 73,993 34,577 9,274 2,839 268,097 9,200  
  2015 5,639 9,857 19,779 8,928 70,553 44,009 6,607 2,413 242,489 11,800  
  2016 7,980 13,526 4,142 3,063 61,632 44,459 10,827 8,333 170,557 12,600  
  Q1 1,337 3,623 3,156 3,514 11,934 11,384 42 716 41,133 2,860  
  Q2 2,847 2,642 4,486 1,348 16,437 5,895 3,903 500 33,652 2,980  
  Q3 1,667 3,540 6,062 -4,103 15,628 13,983 3,090 203 26,194 3,010  
  Q4 2,129 3,721 -9,562 2,305 17,633 13,196 3,791 6,915 69,578 3,750  
   
  2017 Q1 1,482 p 2,460 3,149 2,483 18,464 9,141 4,441 925 33,072 2,890  
  Q2 2,116 p 1,944 4,923 1,842 13,510 10,253 2,687 693 21,926 3,360  
  Q3 1,509 p, b - - - - - 3,566 - - -  
   
  (Growth rates in percent) 2013 16.2 27.0 9.8 23.5 14.8 17.3 34.4 12.2 20.6 6.4  
  2014 53.6 -6.0 7.9 -68.8 14.4 22.8 -27.4 -21.1 -7.8 3.4  
  2015 -1.7 -7.2 -21.3 79.4 -4.6 27.3 -28.8 -15.0 -9.6 28.3  
  2016 41.5 37.2 -79.1 -65.7 -12.6 1.0 163.8 245.3 -29.7 6.8  
  Q1 52.5 90.9 -44.7 113.0 -39.7 8.6 -95.8 -32.9 -38.5 26.0  
  Q2 157.3 -41.3 -38.2 -60.6 7.9 -48.5 3360.5 73.6 -45.5 15.5  
  Q3 -33.8 197.5 111.0 -637.5 -13.5 71.4 35.8 -74.8 -38.1 30.9  
  Q4 86.8 64.3 -342.9 -25.6 1.0 -5.2 426.7 2644.0 -2.8 -19.4  
   
  2017 Q1 10.9 p -32.1 -0.2 -29.3 54.7 -19.7 10448.2 29.2 -19.6 1.0  
  Q2 -25.7 p -26.4 9.8 36.7 -17.8 73.9 -31.2 38.6 -34.8 12.8  
  Q3 25.7 p, b - - - - - 15.4 - - -  
   
            2.   Net Foreign Portfolio Investments Flows 3 2013 363 - 12,145 -4,766 -1,475 7,027 18,150 7,953 -72,016 1,389  
      (in million US dollars) 2014 -3 - 23,480 -12,013 5,848 37,740 9,208 13,055 101,292 93  
  2015 -2,128 - 17,451 -16,508 -4,089 9,487 10,021 -858 280,683 -65  
  2016 -264 - 16,777 -2,798 3,886 -4,725 -3,298 2,643 41,213 48  
  Q1 -958 - 4,605 1,745 -763 -1,538 -4,142 4,009 -18,856 -66  
  Q2 367 - 7,902 897 2,935 2,103 2,340 1,885 23,448 309  
  Q3 436 - 4,625 2,758 2,484 6,050 4,291 2,869 21,541 361  
  Q4 -109 - -355 -8,198 -770 -11,341 -5,787 -6,120 15,079 -556  
   
  2017 Q1 -2,644 p - 7,554 -1,431 4,285 10,799 15,000 8,043 6,792 709  
  Q2 584.8 p - 7,735 -1,255 4,163 12,452 8,132 4,264 13,795 443  
  Q3 - - - - - - -6,571 - - -  
   
  (Growth rates in percent) 2013 -91.3 - -17.2 -240.3 -132.4 -76.7 -44.7 147.4 -55.5 -26.4  
  2014 -100.9 - 93.3 -152.0 496.4 437.1 -49.3 64.2 240.7 -93.3  
  2015 -62137.4 - -25.7 -37.4 -169.9 -74.9 8.8 -106.6 177.1 -169.9  
  2016 87.6 - -3.9 83.1 195.0 -149.8 -132.9 408.0 -85.3 -173.8  
  Q1 -171.2 - -45.7 150.9 31.3 -112.4 -252.8 -15.1 -127.5 -24.5  
  Q2 116.3 - 26.1 120.3 260.0 4310.5 -74.4 -41.0 -62.9 93.1  
  Q3 129.5 - 407.4 187.9 412.4 274.4 138.3 134.3 -51.1 557.0  
  Q4 -143.0 - -108.4 -48.5 -120.4 -2,147.6 30.4 -1378.3 -79.6 497.8  
   
  2017 Q1 -176.1 p - 64.1 -182.0 661.7 802.1 462.1 100.6 136.0 1174.2  
  Q2 59.2 p - -2.1 -239.9 41.9 492.0 247.5 126.2 -41.2 43.4  
  Q3 - - - - - - -253.1 - - -  
   
      D.  Overall Balance of Payments 2013 5,085 - -7,325 -5,049 18,166 11,271 16,296 8,782 431,383 7,465  
    (in million US dollars) 2014 -2,858 - 15,249 -1,210 6,801 - 17,886 8,904 - 8,375  
  2015 2,616 - -1,098 5,859 1,126 - 420 6,984 - -6,032  
  2016 -420 - 12,089 12,845 -1,474 - 1,745 - - 8,390  
  Q1 -210 - -287 13,773 -6,207 - 3,456 1,795 - 3,464  
  Q2 843 - 2,162 3,917 3,501 - -7,203 - - 3,211  
  Q3 1,014 - 5,708 777 4,018 - 5,735 - - 2,978  
  Q4 -2,068 - 4,505 -5,624 -2,785 - -243 - - -1,263  
   
  2017 Q1 -994 - 4,514 8,188 11,729 - 87 - - 1,448  
  Q2 289 - 739 1,995 3,192 - -3,643 - - 1,061  
  Q3 -662 - - - - - 6,125 - - -  
   
      E.  External Debt  4 2013 78.5 212.3 266.1 141.9 1333.8 426.9 423.5 170.1 863.2 3.1  
   Levels (in billion US dollars) 2014 77.7 214.0 293.3 141.7 1346.8 458.2 424.3 177.9 895.5 3.4  
  2015 77.5 195.1 310.7 131.1 1281.4 479.2 396.1 159.0 1416.2 -  
  2016 Q1 77.6 207.7 317.3 140.0 1317.0 485.0 389.2 159.7 1331.5 -  
  Q2 77.7 206.7 325.5 143.7 1315.8 479.5 392.8 163.2 1356.3 -  
  Q3 76.6 214.6 326.9 140.6 1323.9 484.1 400.2 171.8 1399.0 -  
  Q4 74.8 212.1 317.1 132.2 1316.8 456.0 380.9 172.2 1420.7 -  
   
  2017 Q1 73.8 201.9 326.3 136.2 1321.6 471.9 405.7 182.3 1437.8 -  
  Q2 72.5 202.6 335.3 140.5 1320.7 485.8 407.3 170.1 1562.8 -  
  Q3 - - - - - - - - - -  
   
               ( As percent of GDP) 2013 28.9 65.7 29.2 33.7 440.9 22.9 32.4 33.3 8.9 1.8  
  2014 27.3 63.3 32.9 34.8 437.0 23.0 30.0 33.5 8.6 1.8  
  2015 26.5 65.6 36.1 32.8 431.7 23.1 28.8 30.3 12.9 -  
  2016 Q1 26.5 71.7 36.7 35.5 447.5 23.2 28.6 30.7 12.1 -  
  Q2 26.2 72.1 37.1 36.4 448.3 22.7 28.9 31.6 12.3 -  
  Q3 25.4 73.6 36.1 35.1 448.5 22.5 28.8 33.0 12.6 -  
  Q4 24.5 71.5 34.0 32.5 443.4 20.8 27.1 32.5 12.7 -  
   
  2017 Q1 24.0 67.1 34.1 32.8 440.7 20.8 28.2 33.7 12.7 -  
  Q2 23.5 67.0 34.2 33.2 438.6 20.8 27.7 30.9 13.6 -  
  Q3 - - - - - - - - - -  
   
       F.  Gross International Reserves     2013 83,187 134,900 99,387 167,233 273,065 295,708 346,460 416,811 3,821,320 26,287  
    (in million US dollars) 2014 79,541 115,962 111,862 157,108 256,860 320,649 363,593 418,980 3,843,017 34,575  
  2015 80,667 95,313 105,931 156,514 247,747 350,381 367,962 426,031 3,330,362 28,616  
  2016 Q1 82,977 97,036 107,543 175,073 246,538 360,176 369,840 431,601 3,212,579 32,017  
  Q2 85,284 97,165 109,789 178,669 248,859 363,506 369,890 433,552 3,205,162 35,416  
  Q3 86,139 97,680 115,671 180,469 253,408 371,990 377,770 436,726 3,166,382 38,055  
  Q4 80,692 94,514 116,362 171,853 246,575 358,898 371,102 434,204 3,010,517 36,906  
   
  2017 Q1 80,894 95,437 121,806 180,869 259,638 369,955 375,302 437,526 3,009,088 38,232  
  Q2 81,321 98,935 123,094 185,555 266,303 386,539 380,568 441,943 3,056,789 39,601  
  Q3 80,962 101,200 129,402 199,304 275,410 400,205 384,674 447,221 3,108,510 -  
  Q4 80,616 p, c - - - 276,013 - - - - -  
   
       G.  Import Cover 5 2013 16.0 7.9 6.4 8.0 8.4 7.6 8.1 18.0 23.5 2.4  
         (Equivalent in months of goods)   2014 14.6 6.7 7.5 8.3 8.2 8.3 8.3 18.2 23.5 2.8  
  2015 13.6 6.5 8.9 9.3 9.6 10.7 10.1 21.6 23.8 2.1  
  2016 Q1 13.6 6.9 9.3 10.7 9.9 11.3 10.6 22.6 23.7 2.3  
  Q2 13.0 7.0 9.8 11.2 10.2 11.9 10.9 23.2 24.0 2.6  
  Q3 12.8 7.0 10.4 11.3 10.6 12.6 11.3 23.4 24.0 2.7  
  Q4 11.5 6.7 10.3 10.6 10.1 11.9 11.0 22.6 22.7 2.6  
   
  2017 Q1 11.2 6.5 10.4 10.8 10.3 11.6 10.5 21.7 21.6 2.5  
  Q2 11.1 6.6 10.4 10.7 10.4 11.3 10.4 21.4 21.3 2.4  
  Q3 11.0 6.5 10.5 11.1 10.4 11.3 9.9 21.3 20.9 -  
  Q4 10.9 p, c - - - 10.4 - - - - -  
   
      H.  Exchange Rate  2013 42.45 3.15 10461.24 30.70 1.25 58.53 1094.82 29.77 6.15 20900.17  
           Levels (local currency / US dollars) 2014 44.40 3.27 11868.67 32.47 1.27 61.02 1052.96 30.37 6.16 21147.67  
  2015 45.50 3.91 13389.41 34.24 1.37 64.10 1131.16 31.91 6.27 21676.96  
  2016 47.49 4.14 13308.71 35.28 1.38 67.17 1160.84 32.33 6.64 21932.41  
  Q1 47.29 4.21 13532.63 35.64 1.40 67.49 1202.13 33.35 6.54 21888.60  
  Q2 46.52 4.01 13318.18 35.25 1.36 66.86 1163.22 32.44 6.53 21875.81  
  Q3 47.06 4.05 13132.91 34.82 1.35 66.95 1119.96 31.73 6.66 21892.09  
  Q4 49.11 4.32 13251.10 35.39 1.41 67.40 1158.06 31.78 6.83 22073.14  
   
  2017 Q1 49.99 4.44 13347.92 35.10 1.42 66.94 1153.18 31.10 6.88 22215.77  
  Q2 49.86 4.33 13309.47 34.30 1.39 64.47 1129.95 30.27 6.86 22370.03  
  Q3 50.84 4.26 13329.13 33.36 1.36 64.29 1132.49 30.44 6.67 22441.78  
   
  (Growth rates in percent) 2013 0.5 2.0 11.4 -1.1 0.1 9.5 -2.8 0.5 -2.6 0.3  
  2014 4.6 3.9 13.5 5.7 1.3 4.3 -3.8 2.0 0.2 1.2  
  2015 2.5 19.3 12.8 5.5 8.5 5.1 7.4 5.1 1.9 2.5  
  2016 4.4 6.1 -0.6 3.0 0.5 4.8 2.6 1.4 5.8 1.2  
  Q1 6.5 16.2 5.7 9.2 3.6 8.5 9.3 5.6 5.5 2.0  
  Q2 4.1 9.5 1.4 6.0 1.2 5.5 6.0 4.7 5.3 1.3  
  Q3 2.2 -0.2 -5.2 -1.2 -2.8 3.1 -4.3 -1.5 5.7 0.5  
  Q4 4.8 0.8 -3.8 -1.2 0.2 2.3 0.1 -3.2 6.9 0.8  
   
  2017 Q1 5.7 5.6 -1.4 -1.5 0.8 -0.8 -4.1 -6.7 5.2 1.5  
  Q2 7.2 8.1 -0.1 -2.7 2.4 -3.6 -2.9 -6.7 5.0 2.3  
  Q3 8.0 5.2 1.5 -4.2 0.6 4.1 1.1 -5.3 0.1 2.5  
   
    III.  Money & Credit 6  
          (end of period)  
          A.  Narrow Money   2013 27.3 13.1 5.4 3.9 9.9 9.8 9.7 8.5 9.3 17.8  
  (Growth rates in percent) 2014 13.3 5.7 6.2 1.3 3.6 10.0 13.6 6.9 3.2 21.2  
  2015 15.2 4.1 12.0 5.7 0.1 12.3 20.9 6.4 15.2 18.0  
  2016 Q1 17.3 -1.7 11.2 5.1 -1.8 13.5 19.6 6.2 22.1 19.1  
  Q2 17.4 0.9 13.9 7.6 1.6 13.7 14.7 6.2 24.6 21.4  
  Q3 16.5 0.1 5.9 6.4 5.1 21.0 10.2 6.4 24.7 20.0  
  Q4 15.1 5.7 17.3 4.8 7.7 -18.7 12.3 6.0 21.4 18.1  
   
  2017 Q1 14.8 9.2 14.2 7.0 8.9 3.5 9.8 4.6 18.8 16.0  
  Q2 16.0 9.3 17.8 7.4 10.8 1.7 9.8 4.4 15.0 -  
  Q3 16.7 11.1 15.8 9.8 9.2 2.0 7.2 d 4.5 14.0 -  
   
         B.  Broad Money   2013 31.8 7.5 12.8 7.3 4.3 14.9 4.6 5.8 13.6 21.4  
      (Growth rates in percent) 2014 11.2 6.8 12.0 4.7 3.4 10.7 8.1 5.8 11.0 19.7  
  2015 9.4 2.6 8.9 4.4 1.7 10.7 8.2 5.7 13.3 14.9  
  2016 Q1 11.7 0.9 7.4 3.7 2.2 10.1 7.9 4.8 13.4 17.3  
  Q2 12.5 1.9 8.7 4.3 4.2 10.3 6.7 4.4 11.8 19.1  
  Q3 12.9 2.2 5.1 3.9 5.0 13.6 7.2 4.1 11.5 19.8  
  Q4 12.8 3.0 10.1 4.2 7.7 6.6 7.1 4.1 11.3 17.9  
   
  2017 Q1 11.7 4.6 10.0 3.3 7.2 10.6 6.2 3.6 10.6 16.6  
  Q2 13.3 4.3 11.4 4.1 7.0 7.4 5.4 3.7 9.4 -  
  Q3 14.5 5.1 10.9 4.9 5.3 5.9 4.3 d 3.8 9.2 -  
   
         C.  Domestic Credits   2013 10.6 10.9 18.8 7.9 11.6 14.4 3.6 4.6 15.1 13.9  
      (Growth rates in percent) 2014 17.8 10.9 11.3 5.6 7.4 8.0 7.7 5.2 16.2 15.5  
  2015 11.5 7.2 9.8 4.7 2.1 9.6 7.6 4.6 23.7 20.1  
  2016 Q1 15.4 6.2 9.5 4.0 3.0 10.1 7.8 4.2 25.4 19.6  
  Q2 17.1 6.7 8.7 4.9 2.2 10.7 6.6 4.7 24.7 19.8  
  Q3 16.5 5.8 9.7 4.2 3.2 14.0 6.4 3.8 23.0 17.1  
  Q4 17.0 6.5 8.8 3.5 4.6 9.4 6.7 3.9 20.1 17.2  
   
  2017 Q1 16.5 9.8 6.9 3.1 6.7 11.9 5.4 4.4 15.8 18.3  
  Q2 15.4 30.7 6.9 2.5 7.0 8.8 5.4 4.8 13.7 -  
  Q3 16.1 7.6 8.7 2.3 8.1 8.0 d 4.9 d 4.7 d 13.1 d -  
   
                 As percent of GDP 2013 51.9 136.6 41.2 123.0 153.9 87.7 171.8 175.4 155.7 108.2  
  2014 55.8 139.5 41.4 127.1 160.3 84.7 178.0 174.5 167.2 113.8  
  2015 59.0 143.0 41.7 128.4 156.6 85.1 182.7 175.5 193.4 128.3  
  2016 Q1 59.6 142.2 41.1 128.0 158.3 84.7 184.4 176.8 203.7 130.1  
  Q2 60.1 142.1 41.6 127.3 159.2 85.6 185.2 176.4 210.2 133.9  
  Q3 60.8 141.9 40.7 125.7 160.0 86.9 185.2 178.1 212.8 133.5  
  Q4 63.5 143.2 42.2 126.6 162.9 84.1 185.8 178.5 215.0 140.1  
   
  2017 Q1 63.6 144.6 40.6 124.8 166.1 85.4 184.9 181.0 216.3 142.1  
  Q2 63.6 170.2 40.8 123.6 165.9 84.1 185.4 181.9 217.2 -  
   
        E.  Interest Rates  
             1. Time Deposit Rates 2013 1.4 3.0 6.3 2.9 0.1 - 2.9 0.9 3.0 7.1  
  2014 1.1 3.0 8.8 2.0 0.1 - 2.5 0.9 3.0 5.8  
  2015 1.5 3.1 8.3 1.4 0.2 - 1.8 0.9 2.1 4.7  
  2016 1.5 3.0 7.2 1.4 0.2 - 1.6 0.6 1.5 5.0  
  Q1 1.6 3.1 7.9 1.4 0.2 - 1.7 0.7 1.5 5.0  
  Q2 1.5 3.1 7.2 1.4 0.2 - 1.6 0.7 1.5 5.3  
  Q3 1.4 2.9 6.9 1.4 0.2 - 1.4 0.6 1.5 5.3  
  Q4 1.6 2.9 6.7 1.4 0.2 - 1.6 0.6 1.5 4.8  
   
  2017 Q1 1.7 2.9 6.7 1.4 0.1 - 1.6 0.6 1.5 4.8  
  Q2 1.7 2.9 6.6 f 1.4 0.1 - 1.6 0.6 1.5 -  
  Q3 1.8 - - 1.4 e 0.1 e - - 0.6 - -  
   
          2.  Lending Rates 2013 5.8 4.6 11.7 7.0 5.4 10.3 4.7 2.9 6.0 10.4  
               (All Maturities) 2014 5.5 4.6 12.6 6.8 5.4 10.3 4.3 2.9 5.9 8.7  
  2015 5.6 4.6 12.7 6.6 5.4 10.0 3.5 2.9 4.9 7.1  
  2016 5.6 4.5 11.9 6.3 5.4 9.7 3.4 2.7 4.4 7.0  
  Q1 5.6 4.6 12.4 6.5 5.4 9.7 3.5 2.8 4.4 7.0  
  Q2 5.6 4.6 12.0 6.3 5.4 9.7 3.4 2.7 4.4 7.0  
  Q3 5.7 4.5 11.7 6.3 5.4 9.7 3.2 2.7 4.4 7.0  
  Q4 5.6 4.5 11.5 6.3 5.4 9.7 3.3 2.6 4.4 7.0  
   
  2017 Q1 5.5 4.6 11.3 6.3 5.3 9.7 3.5 2.6 4.4 7.0  
  Q2 5.5 4.6 11.2 f 6.1 5.3 9.5 3.4 2.6 4.4 -  
  Q3 5.7 - - 6.0 d 5.3 b - - 2.6 - -  
   
   
         3.  T-Bill Rates  7 2013 0.32 3.00 - 2.88 0.25 8.81 - - - 6.64  
  2014 1.24 3.23 - 2.07 0.35 8.65 - - - -  
  2015 1.77 3.11 - 1.61 0.94 7.65 - - - -  
  2016 1.50 2.76 - 1.41 0.77 6.74 - - - -  
  Q1 1.56 2.39 - 1.40 0.83 7.27 - - - -  
  Q2 1.60 2.91 - 1.38 0.68 6.80 - - - -  
  Q3 1.42 2.61 - 1.39 0.67 6.71 - - - -  
  Q4 1.44 3.12 - 1.47 0.90 6.19 - - - -  
   
  2017 Q1 2.08 - - 1.45 0.86 6.08 - - - -  
  Q2 2.21 - - 1.43 0.96 6.45 - - - -  
  Q3 2.13 - - 1.32 b 1.11 b 6.13 b - - - -  
  Q4 1.96 a - - - - - - - - -  
    lV.  Fiscal Position (P mn) (Rm mn) (Rp bn) (B mn) (S$ mn) (R bn) (Won bn) (NT$ mn) (Yuan bn) (Dong bn)  
          A.  Revenue 2013 1,716,093 298,665 1,429,453 2,373,907 57,054 9,805 314,438 2,457,632 12,914 790,800  
  2014 1,908,527 218,161 1,537,180 2,320,864 59,995 11,119 320,895 2,508,815 14,035 863,520  
  2015 2,108,956 219,089 1,508,020 2,498,571 63,525 12,647 339,186 2,662,328 15,222 996,870  
  2016 2,195,914 212,421 1,554,378 2,600,308 67,969 13,836 371,264 - 15,955 1,101,377  
  Q1 478,978 48,793 247,642 543,983 15,601 4,151 96,106 - 3,890 230,510  
  Q2 621,977 47,498 387,035 784,378 18,153 1,855 95,113 - 4,662 246,335  
  Q3 545,779 56,295 446,513 685,033 18,843 3,942 95,150 - 3,589 241,475  
  Q4 549,180 59,835 473,188 586,914 15,372 3,888 84,895 - 3,815 383,057  
   
  2017 Q1 532,389 46,645 294,750 563,521 16,596 4,713 106,216 - 4,437 280,910  
  Q2 643,971 50,431 423,679 201,957 f 18,956 2,090 103,314 - 4,994 282,590  
  Q3 625,120 b 58,717 255,667 b - - 2,164 b - - 3,982 279,555  
   
          (As percent of GDP) 2013 14.9 29.3 15.0 18.4 15.1 9.0 22.0 16.1 21.7 22.1  
  2014 15.1 19.7 14.5 17.6 15.4 9.1 21.6 15.6 21.8 21.9  
  2015 15.8 18.9 13.1 18.3 15.6 9.5 21.8 15.9 22.1 23.8  
  2016 15.2 17.3 12.5 18.1 16.6 9.4 22.8 - 21.4 24.5  
  Q1 14.6 16.8 8.4 15.3 15.5 11.3 25.0 - 24.1 27.1  
  Q2 17.2 15.9 12.6 22.3 18.0 5.2 23.4 - 25.8 23.9  
  Q3 15.7 18.1 13.9 19.2 18.7 10.6 22.9 - 18.8 20.9  
  Q4 13.4 18.2 14.8 15.8 14.3 10.2 20.0 - 18.1 26.1  
   
  2017 Q1 14.9 14.4 9.1 14.8 15.7 11.4 26.1 - 24.6 30.2  
  Q2 16.3 15.3 12.6 - 18.0 5.4 24.0 - 24.9 25.1  
  Q3 - - - - - - - - 18.8 -  
   
          B.  Expenditure 2013 1,880,155 349,173 1,638,952 2,663,777 40,390 15,821 300,238 2,665,241 13,974 930,730  
  2014 1,981,619 256,689 1,764,583 2,584,866 41,757 16,361 312,394 2,645,712 15,166 800,532  
  2015 2,230,645 256,533 1,806,443 2,595,863 45,359 17,224 339,351 2,645,189 17,577 875,208  
  2016 2,549,336 251,089 1,860,759 2,985,825 51,081 19,290 354,354 - 18,784 937,951  
  Q1 591,466 66,528 390,908 714,402 16,691 4,593 110,233 - 3,796 216,469  
  Q2 629,805 62,517 474,447 691,435 9,823 5,118 89,049 - 5,121 233,822  
  Q3 639,166 58,093 440,495 627,915 11,510 5,159 78,901 - 4,679 228,186  
  Q4 688,899 63,951 554,909 952,074 13,057 4,420 76,171 - 5,188 259,474  
   
  2017 Q1 615,362 66,863 400,037 687,916 17,739 5,051 110,134 - 4,592 240,800  
  Q2 715,468 64,185 493,281 233,834 f 10,860 6,507 101,558 - 5,757 250,765  
  Q3 683,716 57,912 304,951 - - 2,997 b - - 4,839 246,425  
   
          (As percent of GDP) 2013 16.3 34.3 17.2 20.6 10.7 14.4 21.0 17.5 23.5 26.0  
  2014 15.7 23.2 16.7 19.6 10.7 13.4 21.0 16.4 23.6 20.3  
  2015 16.7 22.2 15.7 19.0 11.1 13.0 21.8 15.8 25.5 20.9  
  2016 17.6 20.4 15.0 20.8 12.5 13.1 21.7 - 25.2 20.8  
  Q1 18.1 22.9 13.3 20.1 16.5 12.4 28.7 - 23.5 25.5  
  Q2 17.4 20.9 15.4 19.6 9.7 14.4 21.9 - 28.3 22.7  
  Q3 18.3 18.6 13.7 17.6 11.4 13.9 19.0 - 24.6 19.7  
  Q4 16.8 19.5 17.4 25.6 12.2 11.6 17.9 - 24.6 17.7  
   
  2017 Q1 17.2 20.6 12.4 18.1 16.7 12.2 27.1 - 25.4 25.8  
  Q2 18.1 19.5 14.7 - 10.3 16.8 23.6 - 28.7 22.2  
  Q3 - - - - - - - - 22.8 -  
   
         C. Overall Surplus/Deficit 2013 -164,062 -50,508 -237,701 -289,870 16,664 -6,016 14,200 -207,609 -1,060 -139,930  
  2014 -73,092 -38,528 -227,403 -264,002 18,237 -5,241 8,501 -136,897 -1,131 62,988  
  2015 -121,689 -37,444 -298,423 -97,291 18,203 -4,577 -165 17,139 -2,355 121,662  
  2016 -353,422 -38,668 -306,381 -385,517 16,888 -5,454 16,910 - -2,829 163,426  
  Q1 -112,488 -17,735 -143,266 -170,418 -1,090 -442 -14,127 - 94 14,041  
  Q2 -7,828 -15,019 -87,411 92,943 8,330 -3,263 -12,516 - -459 12,513  
  Q3 -93,387 -1,798 6,017 57,118 7,333 -1,217 8,186 - -1,091 13,289  
  Q4 -139,719 -4,116 -81,721 -365,159 2,315 -533 16,910 - -1,373 123,583  
   
  2017 Q1 -82,973 -20,218 -105,287 -124,395 -1,143 -338 -3,918 - -155 40,110  
  Q2 -71,497 -13,754 -69,602 -31,877 f 8,096 -4,417 -13,454 - -763 31,825  
  Q3 -58,596 805 -49,284 b - - -834 b - - -857 33,130  
   
                   As percent of GDP 2013 -1.4 -5.0 -2.5 -2.2 4.4 -5.5 1.0 -1.4 -1.8 -3.9  
  2014 -0.6 -3.5 -2.2 -2.0 4.7 -4.3 0.6 -0.8 -1.8 1.6  
  2015 -0.9 -3.2 -2.6 -0.7 4.5 -3.5 0.0 0.1 -3.4 2.9  
  2016 -2.4 -3.1 -2.5 -2.7 4.1 -3.7 1.0 - -3.8 3.6  
  Q1 -3.4 -6.1 -4.9 -4.8 -1.1 -1.2 -0.9 - 0.6 1.7  
  Q2 -0.2 -5.0 -2.8 2.6 8.2 -9.3 -0.8 - -2.5 1.2  
  Q3 -2.7 -0.6 0.2 1.6 7.3 -3.3 0.5 - -5.7 1.1  
  Q4 -3.4 -1.3 -2.6 -9.8 2.2 -1.4 1.0 - -6.5 8.4  
   
  2017 Q1 -2.3 -6.2 -3.3 -3.3 -1.1 -0.8 -0.2 - -0.9 4.3  
  Q2 -1.8 -4.2 -2.1 - 7.7 -11.4 -3.1 - -3.8 2.8  
  Q3 - - - - - - - - -4.0 -  
   
                                                 
  a October c End-October e July    
  b July-August d End-August f April  
   
1 Per International Merchandise Trade Statistics  
2 Net FDI flows refer to non-resident placements less non-resident withdrawals of equity, reinvestment of earnings and other capital.  
3 Net FPI flows refer to non-resident placements less non-resident withdrawals of equity securities and debt securities.  
4 Philippine data were revised to reflect new treatment of Hybrid Tier 1 accounts beginning March 2006.  
5 Import cover refers to number of months of average imports of goods  
6 For the Philippines, data from 2003 up to present are the Standard Report Forms (SRFs)-based Depository Corporations Survey (DCS), a unified framework for reporting monetary and financial statistics to the International Monetary Fund (IMF). The DCS is a consolidation of the balance sheets of the deposit-generating banks namely the Monetary Authorities (MA) of the BSP and Other Depository Corporations (ODCs), consisting of universal and commercial banks (UBs/KBs), thrift banks (TBs), rural banks (RBs), non stock savings and loan associations (NSSLAs) and non-banks with quasi-banks functions (NBQs).
7 Treasury-Bill Rates (91 Days) for Philippines  
- not available  
p Preliminary  
r Revised  
   
  Sources of data:   
For Philippines: Other countries:  
Bangko Sentral ng Pilipinas National websites  
Bureau of the Treasury Bloomberg    
Philippine Statistics Authority CEIC Data Limited                       
    International Financial Statistics