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March 24, 2015 - Philippine Balance of Payments Surplus
Q4 2014 BOP Position Yields US$574 Million Surplus; Full-Year 2014 Registers US$2.9 Billion Deficit - by The Philippine Central Bank
The country’s balance of payments position registered a surplus of US$574 million in Q4 2014. This was 54.5 percent lower than the US$1.3 billion surplus recorded in Q4 2013 despite the gains in the current account, which were almost negated by the substantial net outflows in the financial account or net lending by residents to the rest of the world, consisting of residents’ acquisition of financial assets abroad and repayment of external liabilities. The large outflows in the financial account were due largely to the notable growth in net placements of residents in other investments and direct investments abroad. As global growth prospects remain solid, particularly in the US, China and India, residents have explored investment opportunities abroad. Meanwhile, the narrowing of the trade-in-goods deficit contributed mainly to the higher current account surplus.
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