MANILA, Sept. 13 (Xinhua) -- The Philippines' balance of payments (BOP), which reflects the difference between money sent into and out of the country, recorded a deficit of 2.6 billion U.S. dollars in the second quarter of 2025, the Philippine central bank has said.
"This is a reversal from the surplus of 1.2 billion dollars in the same period last year," said the Bangko Sentral ng Pilipinas (BSP) in a statement on Friday.
The BOP position is comprised by the current account (consisting mainly of trade) and the financial account (mainly investments and loans). It also includes the capital account (including grants and other one-time transfers), the BSP said.
"This shift to a deficit was mainly due to lower net inflows into the financial account as local banks lent more to overseas borrowers and settled some foreign obligations, as recorded in the other investment account," the BSP said.
"Declines in portfolio and direct investment net inflows also weighed on the financial account as global financial uncertainty prompted investors to take a more cautious stance," it added.
For the first half of 2025, the BOP registered a 5.6-billion-dollar deficit, reversing the 1.4-billion-dollar surplus recorded in January to June 2024, the BSP said. ■
