payments position stood at a $1.345-billion surplus in 2021, its smallest since 2008, due to a wider trade deData released by the Bangko Sentral ng Pilipinas on Tuesday evening showed last year’s BoP surplus was significantly smaller than the $16.022-billion surfeit seen in 2020, and below the projected $1.6-billion surplus for 2021.For December alone, the payment position stood at a $991-million surplus, much lower than $4.
The BoP gives a glimpse into the country’s transactions with the rest of the world. A deficit means more funds left the country, while a surplus shows that more money came in. Latest data from the Philippine Statistics Authority showed the trade balance had ballooned to a $37.92-billion deficit as of end-November, bigger than the $22.15-billion trade gap in 2020’s comparable 11 months.
He said the BoP is likely to post a slimmer surplus or even a deficit on prospects of economic recovery that will be supported by domestic demand. Mr. Asuncion said the peso could weaken versus the greenback as a result.nish a year earlier.
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