BPO sector continues to report gains in 2nd quarter, BSP says

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Thursday, September 29, 2011

MANILA—The Philippines' business process outsourcing (BPO) industry continue to report gains in the second quarter of 2011, the Bangko Sentral ng Pilipinas (BSP) said, adding top contributors came from computer and information, and miscellaneous business, professional, and technical services.

Net receipts from trade-in-services expanded to $657 million in the second quarter of 2011, more than double the $324 million net receipts registered in the same quarter last year, the BSP report said.

Gains from BPO-related transactions contributed to the performance of services sector, the BSP said without elaborating.

Computer and information services posted a growth rate of 10.3 percent, while miscellaneous business, professional, and technical services grew 25.1 percent.

The second quarter balance of payments (BOP) also sustained a surplus at $9 billion for the period January–August 2011, exceeding the forecast for the entire year and highlights the country’s improving fiscal position.

The BOP surplus of $2.719 billion in August was the highest in eight months. In 2010, the BOP surplus reached a record $14.4 billion.

“By meeting its growth targets, including revenues of $25 billion by 2016, the industry will contribute to accelerating economic growth, which translates to more business opportunities, employment and development,” Raymond Lacdao, industry affairs executive director of the Business Processing Association of the Philippines (BPAP), said. (Virgil Lopez/Sunnex)