Philippines Current Account to GDP

Philippines recorded a Current Account surplus of 2.80 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in Philippines is reported by the The Bangko Sentral ng Pilipinas (BSP). From 1980 until 2012, Philippines Current Account to GDP averaged -0.8 Percent reaching an all time high of 5.8 Percent in December of 2009 and a record low of -7.7 Percent in December of 1980. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Philippines Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-21

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.50 2.80 5.80 -7.70 3.51 | 2014/12 1980 - 2013 Percent Yearly

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Philippines Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
External Debt 60337.00 2012-12-31 61711.00 61711.00 20893.00 59784.74 2013-12-31 USD Million [+]
Remittances 1795680.40 2014-02-15 1799288.30 2154956.20 64208.00 1861678.71 2014-03-31 USD Thousand [+]
Balance of Trade -1378315.00 2014-01-15 -694897.00 1144700.00 -1657980.00 -633272.37 2014-02-28 USD Thousand [+]
Current Account 592.00 2013-12-15 998.00 2107.00 -884.00 707.16 2014-01-31 USD Million [+]
Exports 4654149.56 2014-02-15 4379037.59 5340847.00 23000.00 4704718.17 2014-03-31 USD Thousand [+]
Imports 5757352.55 2014-01-15 5412933.75 5882358.00 37084.30 5628637.29 2014-02-28 USD Thousand [+]
Tourist Arrivals 452650.00 2013-12-15 361271.00 452650.00 63628.00 400629.01 2014-01-31 [+]
Current Account to GDP 3.50 2013-12-31 2.80 5.80 -7.70 3.51 2014-12-31 Percent [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Philippines Inflation Rate Edges Down in March  
Philippines annual consumer prices decelerated for the second straight month to 3.9 percent, the lowest rate in four months, due to a slowdown in prices of alcoholic beverages, tobacco, housing, water, electricity, gas, recreation and restaurants.
Philippines Leaves Rates on Hold, Raises Bank Reserve Requirements  
At its March 27th, 2014 meeting, Philippines' Central Bank decided to leave the key policy rate steady at 3.50 percent, but raised banks' reserve requirements by 1 percentage point effective on April 4th, 2014 to curb excess liquidity.
Philippines’ Trade Deficit Doubles in January  
The trade deficit widened in January of 2014 to USD -1.38 billion from USD -0.72 billion a year earlier and USD -0.70 billion in December of 2013. While exports climbed for the eighth consecutive month, imports posted the highest increase in nearly 3 years.
Philippines Unemployment Rate Up to 7.5%  
In January of 2014, Philippines jobless rate rose to 7.5 percent, up from 6.5 percent in the previous period and 7.1 percent a year ago. Typhoon-hit region VIII was not covered in the survey.
Philippines Inflation Rate Slows in February  
Philippines annual inflation fell to 4.1 percent in February from 4.2 percent in January, as alcoholic beverages, tobacco and transport prices rose at a slower pace. On a monthly basis, the inflation rate eased from 0.7 percent in January to 0.1 percent in February, as the country starts to recover from supply shocks caused by November’s Typhoon Haiyan.
Philippines Trade Deficit Narrows in 2013  
In 2013, Philippines trade deficit decreased 23 percent to USD 7.73 billion, from USD 10.03 billion in the previous year, due to a 3.6 percent rise in sales. Considering the last month of 2013, the trade deficit narrowed to USD 695 million.
Philippines Monetary Policy Unchanged in February  
At its February 2nd meeting, Philippines' Central Bank decided to keep its key policy rate unchanged at 3.50 percent as recent inflationary pressures are mainly due to adverse weather conditions.
Philippines Inflation Rate Accelerates in January  
In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month.
Philippines GDP Expands 1.5% QoQ in Q4 2013  
In the fourth quarter of 2013, Philippines GDP advanced 1.5 percent over the previous quarter, slightly up from a revised 1.3 percent in the previous three-month period and boosted by the industrial production.
Philippines Q4 2013 GDP Growth Hurt by Typhoon Haiyan  
In the fourth quarter of 2013, Philippines GDP slowed to an annual growth rate of 6.5 percent, down from a revised 6.9 percent in the previous three months and 7.1 percent a year earlier. Although Typhoon Haiyan hit the economy, robust household consumption made the GDP figures better than initial government estimates. Full 2013 GDP expanded 7.2 percent.
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