International Reserves in Philippines

Philippines International Reserves | Economic News & Forecasts

Philippines - International Reserves

GDP contracted for the first time since 1998 in the first quarter, hit by disruptions from the Taal Volcano eruption in January, the Covid-19 pandemic and subsequent lockdown put in place in March. Moreover, the economy is expected to have worsened further at the start of the second quarter due to the lockdown and a sudden downturn in the global economy. The manufacturing PMI hit a new record low in April on plummeting production, new orders and exports, while tourism plunged over 50% in January–April. In addition, the government stated in May that around 42,000 overseas Filipino workers are set to return in May and June, joining the over 27,000 who have already returned as economic fallout from Covid-19 disrupts jobs overseas. The migration will likely see remittances—an economic lifeline for the country—plunge in the second quarter and possibly beyond.

Philippines - International Reserves Data

2015   2016   2017   2018   2019  
International Reserves (USD)80.7  80.7  81.6  79.2  87.8  

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Philippines International Reserves Chart

Philippines International Reserves
Note: International reserves in months of imports.
Source: Central Bank of the Philippines and FocusEconomics calculations.

Philippines Facts

Value Change Date
Bond Yield4.44-4.11 %Dec 27
Exchange Rate50.660.02 %Jan 01

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