Table 1
Philippines: Balance of Payments
in million U.S. dollars; for periods indicated
	2024 p													Q1	Q2	Q3		Q4			Percent Change		Jan-Dec			Percent Change
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec		2024 p	2024 p	2024 p		2023 r	2024 p		2024 p		2023 r	2024 p		2024 p
Current Account	-1,490	28	-609	-2,178	-2,510	-1,073	-1,503	-1,604	-2,004	-2,423	-1,611	-538		-2,071	-5,760	-5,111		-1,041	-4,572		-339.3		-12,387	-17,514		-41.4
(Totals as Percent of GNI)														-1.7	-4.6	-4.1		-0.7	-3.1				-2.6	-3.4
(Totals as Percent of GDP)														-1.9	-5.1	-4.7		-0.8	-3.5				-2.8	-3.8
Export	12,654	13,078	13,279	13,112	12,580	12,552	13,011	13,493	13,421	13,441	12,755	14,233		39,010	38,245	39,925		40,385	40,430		0.1		152,172	157,609		3.6
Import	14,143	13,050	13,888	15,290	15,091	13,625	14,514	15,097	15,424	15,864	14,366	14,771		41,081	44,005	45,035		41,426	45,002		8.6		164,559	175,124		6.4
Goods, Services, and Primary Income	-4,109	-2,448	-3,119	-4,370	-4,977	-3,835	-4,381	-4,256	-4,722	-5,188	-4,132	-3,661		-9,676	-13,183	-13,359		-9,320	-12,981		-39.3		-43,511	-49,199		-13.1
Export	9,952	10,518	10,696	10,750	10,001	9,717	10,048	10,775	10,609	10,519	10,115	11,032		31,166	30,468	31,432		31,802	31,667		-0.4		119,956	124,733		4.0
Import	14,061	12,966	13,816	15,120	14,978	13,553	14,429	15,031	15,331	15,707	14,247	14,694		40,842	43,651	44,791		41,122	44,648		8.6		163,467	173,932		6.4
Goods  and  Services	-4,733	-2,990	-3,283	-4,763	-5,195	-4,132	-4,947	-4,541	-5,133	-5,691	-4,741	-4,015		-11,006	-14,090	-14,621		-10,866	-14,447		-33.0		-47,853	-54,165		-13.2
(Totals as Percent of GNI)														-9.0	-11.2	-11.7		-7.7	-9.8				-9.9	-10.4
(Totals as Percent of GDP)														-10.1	-12.5	-13.4		-8.6	-11.1				-10.9	-11.7
Export	8,498	9,226	9,212	9,303	8,590	8,296	8,593	9,244	9,101	9,045	8,502	9,380		26,936	26,189	26,938		27,392	26,927		-1.7		103,588	106,990		3.3
Import	13,231	12,216	12,495	14,066	13,785	12,428	13,540	13,786	14,234	14,736	13,243	13,395		37,941	40,279	41,560		38,258	41,374		8.1		151,441	161,154		6.4
Goods	-5,516	-4,551	-4,611	-5,817	-5,890	-5,252	-6,164	-5,890	-6,416	-7,137	-6,130	-5,373		-14,678	-16,958	-18,469		-15,856	-18,640		-17.6		-66,036	-68,744		-4.1
(Totals as Percent of GNI)														-12.0	-13.5	-14.7		-11.2	-12.6				-13.6	-13.2
(Totals as Percent of GDP)														-13.4	-15.1	-16.9		-12.6	-14.3				-15.1	-14.9
Credit: Exports	4,682	4,849	4,961	4,808	4,763	4,287	4,468	4,860	4,571	4,468	4,093	4,203		14,492	13,858	13,898		14,231	12,764		-10.3		55,257	55,012		-0.4
Debit: Imports	10,198	9,400	9,571	10,625	10,652	9,539	10,631	10,749	10,986	11,605	10,223	9,576		29,169	30,816	32,367		30,087	31,404		4.4		121,292	123,756		2.0
Services	782	1,561	1,328	1,054	694	1,119	1,216	1,348	1,283	1,446	1,389	1,357		3,672	2,867	3,848		4,990	4,193		-16.0		18,183	14,580		-19.8
Credit: Exports	3,816	4,377	4,251	4,494	3,827	4,009	4,125	4,385	4,531	4,577	4,409	5,177		12,444	12,330	13,040		13,161	14,163		7.6		48,332	51,978		7.5
Debit: Imports	3,034	2,815	2,923	3,441	3,133	2,890	2,909	3,036	3,248	3,131	3,020	3,819		8,772	9,463	9,193		8,172	9,970		22.0		30,149	37,398		24.0
Primary Income	624	542	163	393	218	297	566	286	411	503	609	354		1,329	907	1,262		1,546	1,467		-5.2		4,342	4,966		14.4
Credit: Receipts	1,454	1,292	1,485	1,447	1,411	1,421	1,455	1,531	1,507	1,474	1,614	1,653		4,230	4,279	4,493		4,410	4,740		7.5		16,367	17,743		8.4
Debit: Payments	829	750	1,321	1,054	1,193	1,124	889	1,245	1,097	971	1,004	1,299		2,901	3,372	3,231		2,864	3,274		14.3		12,025	12,777		6.3
Secondary Income	2,620	2,476	2,510	2,193	2,467	2,763	2,879	2,651	2,718	2,765	2,521	3,123		7,606	7,423	8,248		8,279	8,408		1.6		31,124	31,685		1.8
Credit: Receipts	2,702	2,560	2,582	2,363	2,579	2,835	2,963	2,718	2,812	2,922	2,640	3,201		7,845	7,777	8,493		8,583	8,763		2.1		32,217	32,877		2.0
Debit: Payments	83	84	72	170	113	72	84	67	94	157	119	78		239	354	244		304	354		16.5		1,092	1,192		9.1
Capital Account	6	5	6	6	5	6	6	7	7	6	7	6		17	18	20		22	19		-13.8		74	72		-2.9
Credit: Receipts	7	6	7	7	7	7	7	7	8	7	7	6		20	21	21		25	20		-17.7		88	82		-7.0
Debit: Payments	1	1	1	1	2	1	1	.	.	1	.	1		3	3	2		3	2		-44.1		14	10		-29.3
Financial Account	-1,517	-655	-2,475	-798	-3,966	-1,205	-1,330	-2,374	-6,199	1,145	1,585	151		-4,647	-5,969	-9,903		-6,165	2,881		146.7		-13,606	-17,638		-29.6
Net Acquisition of Financial Assets	-474	1,063	1,990	-2,012	-1,050	465	274	-417	2,240	-1,176	2,492	2,751		2,580	-2,597	2,097		2,414	4,066		68.4		4,147	6,146		48.2
Net Incurrence of Liabilities	1,043	1,718	4,465	-1,214	2,916	1,670	1,604	1,957	8,440	-2,322	907	2,600		7,226	3,372	12,000		8,579	1,185		-86.2		17,753	23,784		34.0
Direct Investment	-772	514	-404	-580	-380	-484	-894	-589	-415	-835	-884	-335		-662	-1,443	-1,899		-1,575	-2,054		-30.5		-5,400	-6,058		-12.2
Net Acquisition of Financial Assets	142	1,902	285	-10	103	-3	85	245	48	263	38	-226		2,329	90	378		946	75		-92.1		3,525	2,872		-18.5
Net Incurrence of Liabilities	914	1,388	689	570	483	481	979	834	463	1,098	922	110		2,990	1,534	2,276		2,521	2,130		-15.5		8,925	8,930		0.1
Portfolio Investment	471	-584	-861	-869	-2,733	490	-1,992	-588	-112	-633	2,116	1,666		-974	-3,112	-2,692		-1,802	3,149		274.8		3,544	-3,629		-202.4
Net Acquisition of Financial Assets	240	-259	1,001	-1,634	-693	418	-840	-271	2,751	-2,060	819	2,386		981	-1,908	1,640		160	1,144		613.8		3,463	1,857		-46.4
Net Incurrence of Liabilities	-231	324	1,862	-765	2,041	-72	1,152	317	2,863	-1,428	-1,297	720		1,955	1,204	4,332		1,962	-2,004		-202.2		-81	5,486		6,862.3
Financial Derivatives	-38	-9	-14	-53	-11	-36	-10	60	3	-112	-25	-26		-61	-99	53		-13	-163		-1,132.3		-115	-271		-135.0
Net Acquisition of Financial Assets	-71	-51	-65	-83	-74	-67	-72	-60	-106	-164	-106	-105		-187	-224	-237		-138	-376		-173.1		-779	-1,023		-31.4
Net Incurrence of Liabilities	-33	-41	-51	-30	-64	-31	-61	-119	-109	-52	-81	-79		-126	-125	-290		-124	-212		-70.8		-664	-753		-13.4
Other Investment	-1,178	-576	-1,196	703	-842	-1,175	1,566	-1,257	-5,675	2,725	378	-1,153		-2,950	-1,314	-5,366		-2,775	1,950		170.3		-11,635	-7,680		34.0
Net Acquisition of Financial Assets	-785	-529	770	-286	-386	117	1,100	-331	-452	785	1,741	696		-543	-555	316		1,446	3,222		122.9		-2,062	2,440		218.3
Net Incurrence of Liabilities	393	48	1,966	-988	456	1,292	-466	925	5,223	-1,940	1,363	1,849		2,407	759	5,682		4,221	1,272		-69.9		9,573	10,120		5.7
Net Unclassified Items	-773	-884	-698	735	536	-293	230	-688	-677	2,839	912	-825		-2,355	977	-1,136		-3,210	2,926		191.2		2,378	413		-82.6
Overall BOP Position	-740	-196	1,173	-639	1,997	-155	62	88	3,526	-724	-2,276	-1,508		238	1,204	3,676		1,936	-4,509		-332.8		3,672	609		-83.4
(Totals as Percent of GNI)														0.2	1.0	2.9		1.4	-3.1				0.8	0.1
(Totals as Percent of GDP)														0.2	1.1	3.4		1.5	-3.5				0.8	0.1
Debit: Change in Reserve Assets	-180	-762	1,190	-623	1,977	-161	79	66	3,541	-710	-2,297	-1,516		247	1,193	3,686		1,927	-4,523		-334.8		3,681	603		-83.6
Credit: Change in Reserve Liabilities	559	-566	17	15	-21	-6	16	-22	15	14	-21	-8		10	-11	10		-10	-14		-48.5		9	-6		-165.0
Memo Items:
Change in Net Foreign Assets (NFA) of Deposit-Taking
Corporations, except the Central Bank	635	-633	-697	-337	-1,007	-687	1,580	-1,835	-725	1,271	622	1,018		-694	-2,032	-980		-635	2,911		558.3		-3,159	-795		74.8
Change in Commercial Banks' (KBs) NFA	636	-644	-702	-342	-1,002	-687	1,595	-1,836	-719	1,279	615	1,112		-710	-2,031	-959		-633	3,007		574.7		-3,050	-694		77.2
Change in Thrift Banks' (TBs) NFA	-2	10	6	4	-4	.	-11	2	2	-8	8	-95		14	1	-6		-14	-96		-565.3		-108	-88		18.7
Change in Offshore Banking Units' (OBUs) NFA	2	.	.	1	-1	.	-5	-1	-9	1	-1	1		2	-1	-15		13	1		-95.4		-1	-13		-825.9
Personal Remittances	3,153	2,946	3,051	2,859	2,884	3,210	3,428	3,204	3,336	3,415	3,121	3,733		9,151	8,954	9,967		9,968	10,270		3.0		37,210	38,341		3.0
of which: Overseas Filipino (OF) Cash Remittances
channeled thru the Banking System	2,836	2,646	2,738	2,562	2,583	2,882	3,085	2,885	3,009	3,079	2,808	3,380		8,219	8,028	8,979		8,997	9,267		3.0		33,491	34,493		3.0
Technical Notes:
1. Balance of Payments Statistics from 2005 onwards are based on the IMF's Balance of Payments and International Investment Position Manual, 6th Edition.
2. Financial Account, including Reserve Assets, is calculated as the sum of net acquisitions of financial assets less net incurrence of liabilities.
3. Balances in the current and capital accounts are derived by deducting debit entries from credit entries.
4. Balances in the financial account are derived by deducting net incurrence of liabilities from net acquisition of financial assets.
5. Negative values of Net Acquisition of Financial Assets indicate withdrawal/disposal of financial assets; negative values of Net
Incurrence of Liabilities indicate repayment of liabilities.
6. A negative growth rate in the net balance of the financial account and its components (i.e., direct, portfolio and other investments) indicate higher
lower net outflows during the period relative to the year-ago level. Conversely, a positive growth rate suggests lower net financial inflows
or higher net outflows.
7. Overall BOP position is calculated as the change in the country's net international reserves (NIR), less non-economic transactions
(revaluation and gold monetization/demonetization). Alternatively, it can be derived by adding the current and capital account balances
less financial account plus net unclassified items.
8. Net unclassified 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.
9. Data on Deposit-taking corporations, except the central bank, consist of transactions of commercial and thrift banks and offshore banking units (OBUs).
Details may not add up to total due to rounding.
p preliminary
r Revised  to reflect data updates from official data sources and post-audit adjustments
. rounds off to zero