Philippines incurs $167-M balance of payments deficit in July

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MANILA, Philippines — The Philippines’ balance of payments (BOP) registered a deficit of $167 million in July 2025. 

Accounting for the transactions of the country with the rest of the world, the latest BOP print meant a reversal from the $62 million surplus recorded in July 2024.

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The Bangko Sentral ng Pilipinas said in a statement the BOP deficit in July reflected the national government’s drawdowns on its foreign currency deposits with the BSP to service external debt obligations.

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Also, the latest readout brought the cumulative BOP level — in the January to July period — to a $5.8 billion deficit this year. It is also a reversal from the $1.5 billion surplus in the same period last year.