Philippines recorded a Current Account surplus of 2.20 percent of the country's Gross Domestic Product in 2019. source: Bangko Sentral ng Pilipinas

Current Account to GDP in Philippines averaged -0.39 percent from 1980 until 2019, reaching an all time high of 5.80 percent in 2009 and a record low of -7.70 percent in 1980. This page provides - Philippines Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Current Account to GDP - values, historical data and charts - was last updated on May of 2021.

Current Account to GDP in Philippines is expected to reach -1.50 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Current Account to GDP is projected to trend around -2.00 percent in 2022, according to our econometric models.

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Philippines Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
2.20 -0.70 5.80 -7.70 1980 - 2019 percent Yearly

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2412000.00 -2711443.00 1144700.00 -4415446.66 USD Thousand [+]
Current Account 1009.98 1628.49 2284.16 -1409.65 USD Million [+]
Current Account to GDP 2.20 -0.70 5.80 -7.70 percent [+]
Imports 9097210.00 7601951.20 10724291.25 37084.30 USD Thousand [+]
Exports 6684330.00 5308715.02 6684330.00 23000.00 USD Thousand [+]
External Debt 98488.01 83617.93 98488.01 20893.00 USD Million [+]
Capital Flows 7.34 6.01 93.66 -35.31 USD Million [+]
Remittances 2477282.00 2602547.20 2902415.60 64208.00 USD Thousand [+]
Tourist Arrivals 19793.00 13604.00 796164.00 948.00 [+]
Gold Reserves 187.91 191.13 274.42 126.89 Tonnes [+]
Foreign Direct Investment 1000.00 509.00 2256.00 -396.00 USD Million [+]
Terrorism Index 7.10 7.14 7.27 5.78 [+]

Philippines Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.