The Philippines recorded a balance of payments (BOP) surplus of $226 million in June 2025, reversing a $155 million deficit from the same month last year, according to data released by the Bangko Sentral ng Pilipinas (BSP).
The surplus was primarily driven by foreign currency deposits made by the national government with the central bank, alongside investment income from BSP’s external assets, the BSP said in a statement.
The stronger monthly position brought the year-to-date BOP deficit down to $5.6 billion, slightly improving from $5.8 billion at end-May, despite a continued trade in goods gap.
The central bank noted that the cumulative deficit still reflects the country’s structural trade imbalance, but was partially offset by steady inflows from overseas remittances, foreign borrowings, and portfolio investments.
Meanwhile, gross international reserves (GIR) rose to $106.0 billion by end-June, up from $105.2 billion the previous month.
The current GIR level is equivalent to 7.2 months’ worth of imports and payments for services and primary income, and 3.4 times the country’s short-term external debt based on residual maturity, the BSP said.
