1

PHILIPPINES: BALANCE OF PAYMENTS in million U.S. dollars Jan CURRENT ACCOUNT (Totals as percent of GNI) (Totals as percent of GDP) Goods and Services (Totals as percent of GNI) (Totals as percent of GDP) Export Import Goods 1/ (Totals as percent of GNI) (Totals as percent of GDP) Credit: Exports Debit: Imports Services Credit: Exports Debit: Imports Income Credit: Receipts Debit: Payments Current Transfers Credit: Receipts Debit: Payments CAPITAL AND FINANCIAL ACCOUNT Capital Account Credit: Receipts Debit: Payments Financial Account Direct Investment Debit: Assets, Residents' Investments Abroad Credit: Liabilities, Non-Residents' Investments in the Phil. Portfolio Investment Debit: Assets, Residents' Investments Abroad Credit: Liabilities, Non-Residents' Investments in the Phil. Financial Derivatives Debit: Assets, Residents' Investments Abroad Credit: Liabilities, Non-Residents' Investments in the Phil. Other Investment Debit: Assets, Residents' Investments Abroad Credit: Liabilities, Non-Residents' Investments in the Phil. NET UNCLASSIFIED ITEMS OVERALL BOP POSITION 148 2012 p Feb 865 Q1 Mar -131 2012 p 882 1.2 1.6 -2924 -3.9 -5.2 16826 19750 -3995 -5.3 -7.1 12682 16677 1071 4144 3073 -256 1829 2085 4062 4298 236 962 41 67 26 921 696 154 850 2011 960 1.4 1.9 -2952 -4.3 -5.8 15824 18776 -3908 -5.7 -7.6 12021 15929 956 3803 2847 -99 1635 1734 4011 4228 217 3656 32 53 21 3624 406 87 493 Growth Rate % 2012 p 2011 -8.1 -42.6

-957

-717

-1250

0.9

-62.8

5568 6525 -1465

5625 6342 -981

5633 6883 -1549

6.3 5.2 -2.2

6.3 12.5 -33.2

4057 5522 508 1511 1003 -211 602 813 1316 1393 77 335 12 21 9 323 774 4 778

4353 5334 264 1272 1008 259 591 332 1323 1401 78 -210 12 21 9 -222 29 29 58

4272 5821 299 1361 1062 -304 636 940 1423 1504 81 837 17 25 8 820 -107 121 14

5.5 4.7 12.0 9.0 7.9 -158.6 11.9 20.2 1.3 1.7 8.8 -73.7 28.1 26.4 23.8 -74.6 71.4 77.0 72.4

8.1 13.3 -14.8 1.0 7.7 71.1 12.1 -3.7 4.8 4.8 4.3 462.5 52.4 39.5 23.5 476.2 1.5 -69.7 -28.2

1431 277 1708

-954 655 -299

825 13 838

1302 945 2247

2674 -432 2242

-51.3 318.8 0.2

3666.2 -134.8 71.0

-15 -17 -32

64 -86 -22

10 -21 -11

59 -124 -65

895 -983 -88

-93.4 2337.5 87.4 -1435.9 26.1 15.4

-1867 1924 57

639 -406 233

92 -1100 -1008

-1136 418 -718

-351 607 256

-223.6 -31.1 -380.5

-277.3 -62.5 -85.9

381 864

-67 588

-915 -209

-601 1243

-1123 3493 -64.4 175.3

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PHILIPPINES: BALANCE OF PAYMENTS in million U.S. dollars Jan OVERALL BOP POSITION (Totals as percent of GNI) (Totals as percent of GDP) Debit: Change in Reserve Assets Credit: Change in Reserve Liabilities Use of Fund Credits Short-term Memo Items: Change in Banks' Net Foreign Assets (NFA) Change in Commercial Banks' (KBs) Net Foreign Assets (NFA) Change in Thrift Banks' (TBs) NFA OF Cash Remittances of which channeled thru the banking system Basic Balance Net Unclassified Items as Percent of Total Trade
p

2012 p Feb 588

Q1 Mar -209 2012 p 1243 1.6 2.2 1253 10 0 10 2011 3493 5.1 6.8 3503 10 0 10

Growth Rate % 2012 p 2011 -64.4 175.3

864

867 3 0 3

591 3 0 3

-205 4 0 4

-64.2 0.0 0.0 0.0

173.7 -9.1 0.0 -9.1

-1251 -1308 57 1612 1557 542 4.0

165 186 -21 1643 1587 1120 -0.7

430 408 22 1757 1698 -641 -9.1

-656 -714 58 5012 4842 1021 -2.0

2825 3003 -178 4755 4595 2166 -4.0

-123.2 -123.8

382.2 400.6

132.6 -8800.0 5.4 5.9 5.4 5.9 -52.9 -9.7

- Preliminary and garments exports.

1/ - Data on goods import were adjusted to reflect preliminary adjustments on the valuation of raw materials for electronics Technical Notes: 1. Balances in the current and capital and financial accounts excluding reserves are derived by deducting debit entries from credit entries. 2. Overall BOP position is determined by deducting change in reserve liabilities from change in reserve assets. 3. Net unclassifed items is an offsetting account to the overstatement or understatement in either receipts or payments of the recorded BOP components 'vis--vis the overall BOP position. 4. Change in Banks' NFA as a BOP entry is derived by deducting foreign assets from foreign liabilities, consistent with the principle described in technical note No. 1.This includes assigned capital of foreign banks in local branches that are converted to pesos. Starting March 2008, the computation of the change in banks' NFA includes the NFA of Thrift Banks. 5. Basic balance represents a BOP position that excludes transactions that are volatile and are in the short run susceptible to being reversed. It is derived using the following formula: Overall BOP position less (Net portfolio investments + net short-term liabilities) less errors and omissions. In the old BOP series, all transactions in assets and liabilities of commercial banks were deemed to be long-term. With the refinements in the new series on the maturity structure of KBs' transactions, short-term financial transactions of KBs are now excluded from the basic balance.

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