Philippines posts $642 million balance of payment surplus in December

January 19, 2024 - 5:11 PM
Bangko Sentral ng Pilipinas (Philstar file photo)

The Philippines‘ overall balance of payments (BOP) position hit a surplus of $642 million in December from a deficit of $216 million in November, the central bank said on Friday.

Cumulative BOP level for 2023 was at a $3.7 billion surplus. The Philippine central bank had a $1.1 billion surplus forecast for 2023 or 0.2% of the economic output, and a $400 million surplus forecast for 2024.

Reporting by Mikhail Flores and Neil Jerome Morales; Editing by Kanupriya Kapoor