THE Philippines’ balance of payments (BOP), which accounts for the country’s transactions with the rest of the world, registered a surplus of US$706 million in October 2025, reflecting improved external accounts, the Philippine central bank said on Wednesday, Nov. 19, 2025.
For January to October 2025, the Bangko Sentral ng Pilipinas (BSP) said the BOP recorded an overall deficit of $4.6 billion, showing signs of narrowing as inflows strengthened.
According to the BSP, the October surplus mirrored the increase in gross international reserves (GIR) to 110.2 billion dollars as of end-October 2025.
“This level of reserves remains an adequate external liquidity buffer, equivalent to 7.4 months’ worth of imports of goods and payments of services and primary income,” the BSP added.
It added that the level of reserves covers about 3.8 times the country’s short-term external debt based on residual maturity.
The GIR is made up of foreign-denominated securities, foreign exchange, and other assets, including gold. It helps a country finance its imports and foreign debt obligations, stabilize its currency, and provide a buffer against external economic shocks. / XINHUA