The Philippines reported a $2B BOP surplus in May 2024, up from a $439M deficit in May 2023.
The Philippines reported a $2B surplus in its balance of payments (BOP) for May 2024, significantly higher than the $439M deficit in May 2023, as per the Bangko Sentral ng Pilipinas (BSP). The surplus resulted from foreign currency deposits, Global Bonds proceeds, and investments abroad. Year-to-date BOP surplus reached $1.6B, lower than the $2.9B surplus in January-May 2023. The final gross international reserves increased to $105B in May 2024.
June 20, 2024
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