Current Account in Philippines

Philippines Current Account | Economic News & Forecasts

Philippines - Current Account

Following the mild slowdown in the third quarter, available data paints a promising picture for the fourth quarter. The manufacturing PMI moved higher in October and November, with a sharp acceleration in new business and output in November highlighting solid business conditions in the sector. Moreover, lower oil prices throughout the quarter should likely lead to a lower import bill, which will help partially curtail the widening current account deficit and should alleviate inflationary pressures. Meanwhile, the booming real estate market, which has been propelled by remittances and Chinese demand, has so far been resilient to tighter monetary conditions, which bodes well for consumer spending and fixed investment in the quarter.

Philippines - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)4.2  3.8  2.5  -0.4  -0.8  

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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

Bond Yield6.49-4.11 %Jan 16
Exchange Rate52.170.02 %Jan 16
Stock Market7,8650.66 %Jan 16

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