00:00The Philippines balance of payments, or BOP, swung to a $4.5 billion deficit in the fourth
00:06quarter of 2024, reversing from a $1.9 billion surplus a year earlier.
00:12The sharp decline was driven by a nearly 340 percent surge in the current account deficit
00:17to a $4.6 billion gap, and the trade gap widened and net earnings from services and primary
00:23income fell.
00:24Higher net receipts in the secondary income account provided some offset, while the capital
00:28account also weakened, with net receipts dropping 14 percent to $19 million, while
00:34the financial account posted a $2.9 billion in net outflows, reversing from $6.2 billion
00:41in net inflows last fourth quarter of 2023.
00:45The Banco Central attributed this to portfolio and other investments turning negative despite
00:50higher direct investment inflows.
Comments