Current Account in Philippines

Philippines Current Account | Economic News & Forecasts

Philippines - Current Account

After economic growth fell to a three-year low in 2018, data so far tells a more subdued growth narrative moving into 2019. Manufacturing conditions improved at a more moderate pace in January, with business confidence falling to a near-record low and the slowdown in China weighing on export orders. Moreover, December’s merchandise trade report, which saw exports contract sharply, suggests the all-important electronics sector could face stronger headwinds in 2019, including the downturn in the global tech cycle. Nevertheless, economic growth came in a notch stronger in Q4 than Q3, driven by improvements in the external sector and higher consumer spending. On the political front, the government passed the 2019 general budget on 8 February after a standoff caused lawmakers to miss the deadline. President Duterte now has 30 days to sign the bill or veto certain provisions. Delayed spending in Q1 due to the impasse could still weigh on growth in the quarter, although government projects are expected to be resumed by the summer.

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 Yield6.16-4.11 %Mar 11
Exchange Rate52.130.02 %Mar 11
Stock Market7,7090.66 %Mar 11

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