US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERS$612-million balance of payment surplus in December, bringing the full-year level to a record deThe full-year gap was a reversal of the $1.3-billion surplus in 2021, the Bangko Sentral ng Pilipinas said in a statement on Thursday.
Gross international reserves rose to $96.1 billion at the end of December from $95.1 billion a month earlier. Merchandise imports slid by 1.9% to $10.78 billion in November from a year earlier, while exports jumped by 13.2% to $7.10 billion, according to data from the local statistics agency. Based on International Merchandise Trade Statistics , the trade deficit for January-November 2022 reached $53.7 billion, up 44.7% from the $37.1-billion de“Aside from inflows from BSP’s operations, the country’s BoP surplus in December was likely helped by a narrower trade decit as import prices continue to soften,” Domini S. Velasquez, chief economist at China Banking Corp. said in a Viber message.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BSP: PH balance of payments hits P7.263-billion deficit in 2022The central bank reported a BOP surplus of $612 million in December 2022, which compares with the $756-million deficit in November and the $991-million surplus in the same year of 2021. This was, however, not enough to offset the deficits recorded in the previous months as the full-year BOP position stood at a deficit of $7.263 billion, reversing the $1.345-billion surplus recorded in 2021.
Source: gmanews - 🏆 11. / 68 Read more »
More dollars flowed out of PH in 2022 on import spendingThe Philippines’ overall balance of payments position in 2022 settled at a deficit of $7.3 billion, reversing from a surplus of $1.34 billion in 2021, according to the Bangko Sentral ng Pilipinas. | RonWDomingoINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Philippines ranks 32nd in military strength list - BusinessWorld OnlineThe Philippines climbed 19 places to land at 32nd spot out of 145 countries in the 2023 edition of Global Firepower’s Military Strength Ranking.
Source: bworldph - 🏆 9. / 68 Read more »
IMF to help Philippines attain sustainable growth, says PalaceMalacañang on Wednesday said the International Monetary Fund (IMF) has expressed readiness to help the Philippines in achieving sustainable growth and pushing for economic policies that would benefit more Filipinos.
Source: gmanews - 🏆 11. / 68 Read more »
Deloitte Philippines launches investigation and compliance services with appointment of new forensic leader - BusinessWorld OnlineIn a demonstration of its commitment to investing in the Philippines, Deloitte has announced the appointment of Neal Ysart as Managing Director to lead and expand the footprint of its forensic and financial crime advisory practice in the Philippines and across Southeast Asia.
Source: bworldph - 🏆 9. / 68 Read more »
Philippines to tap mining revenues for Maharlika Investment FundDAVOS - The Philippines plans to harness the mining industry to help support the creation of a sovereign wealth fund, Finance Secretary Benjamin Diokno said. As the 18-member government delegation Philbizwatcher Selling our natural resources to China does us No- Good at all .... another 'Joke-No' Legacy? Grrrrrr
Source: inquirerdotnet - 🏆 3. / 86 Read more »