The Philippines recorded a balance of payments (BOP) surplus of US$359 million in August 2025, significantly higher than the US$88 million surplus in the same month last year.
This improvement was driven by the Bangko Sentral ng Pilipinas’ (BSP) net income from its overseas investments.
As a result, the year-to-date BOP deficit narrowed from US$5.8 billion to US$5.4 billion.
The deficit was mainly due to the trade in goods gap, though it was partially offset by remittances, foreign borrowings, investments, and trade in services.
The country’s gross international reserves (GIR) also rose to US$107.1 billion, up from US$105.4 billion in July.
These reserves are sufficient to cover 7.2 months of imports and 3.7 times the country’s short-term external debt, providing a strong buffer against external shocks.
