187 0 0 3 min to read

In October, the balance of payments surplus reached $1.14 billion.

In October 2021, the country’s overall balance of payments (BOP) position posted a surplus of USD1.14 billion, a decrease from the USD3.44 billion BOP surplus recorded in the same month last year.

The BOP surplus last month reflected inflows primarily from the national government’s (NG) net foreign currency deposits with the Bangko Sentral ng Pilipinas (BSP) and the BSP’s income from its foreign investments.

The BOP surplus in October brought the total BOP surplus for the first ten months of the year to USD476 million, reversing the USD665 million deficit for the first nine months of the year.

The current BOP level is lower than the USD10.31 billion surplus recorded in the same period last year.

According to preliminary data, net inflows from personal remittances, net foreign borrowings by the NG, foreign direct investments, and trade in services contributed to the cumulative BOP surplus.

The BOP position reflects an increase in final gross international reserves (GIR) to USD107.89 billion at the end of October 2021, up from USD106.6 billion at the end of September 2021.

The most recent GIR level represents a more than adequate external liquidity buffer, equivalent to 10.8 months’ worth of goods imports, service payments, and primary income.

It is also approximately 7.9 times the country’s short-term external debt in terms of original maturity and 5.5 times in terms of residual maturity.

QR Code

Save/Share this story with QR CODE


Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

๐Ÿ“ฉ Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.


We appreciate your reading. ๐Ÿ˜ŠSimple Ways To Say Thanks & Support Us:
1.) โค๏ธGIVE A TIP. Send a small donation thru Paypal๐Ÿ˜Šโค๏ธ
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) ๐Ÿ›’ BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) ๐Ÿ‘ Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).


AFFILIATE PARTNERS
LiveGood
World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.


0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x