Current Account in Philippines

Philippines Current Account | Economic News & Forecasts

Philippines - Current Account

The economy appears to have had a resurgence in the second quarter. Exports continued to gradually recover in May, and business confidence improved in the quarter. Moreover, government data revealed public spending ramped up in May, as policymakers try to achieve their 2019 growth target and make up for lost time from the budget impasse in H1. Although remittances slowed in April, a rock-solid U.S. labor market should have kept remittances afloat in May and June, while cooling inflation likely boosted consumer spending in Q2. Nevertheless, external headwinds linger. Particularly, while the manufacturing sector was again resilient in June compared to regional peers, weak demand and rising inventories signal growth in the sector could slow in the quarters ahead if new business orders remain lackluster. Likewise, the business outlook for Q3 was less upbeat due to expected interruptions from the rainy season.

Philippines - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)4.2  3.8  2.5  -0.4  -0.7  

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Philippines Current Account Chart


Philippines Current Account
Note: Current account balance as % of GDP.
Source: National Statistics Office and FocusEconomics calculations.

Philippines Facts

ValueChangeDate
Bond Yield5.05-4.11 %Jul 11
Exchange Rate51.200.02 %Jul 11
Stock Market8,1540.66 %Jul 11

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