Current Account in Philippines

Philippines Current Account | Economic News & Forecasts

Philippines - Current Account

Feeble domestic demand caused the economy to slow in the second quarter as fixed investment fell abruptly; the delayed budget and midterm elections spending ban dragged on government consumption; and consumer spending weakened. In contrast, the external sector bolstered growth in Q2 despite lackluster export growth as imports stagnated. Turning to Q3, July’s rebound in the manufacturing PMI marks a promising start, while a recovery in public spending on implementation of the 2019 budget should further buttress growth. That said, trade tensions and an uncertain global outlook will likely keep the electronics sector, and in turn exports, suppressed. In other news, in late July the government released the proposed budget framework for the FY 2020 National Budget. The government plans to expand the budget by 12% and the “Build, Build, Build” infrastructure push will remain the flagship program.

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 Yield4.47-4.11 %Sep 04
Exchange Rate51.880.02 %Sep 04
Stock Market7,8410.66 %Sep 04

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