Philippines' BoP position swings to deficit in 2025

The Philippines' balance of payments (BoP) deficit in 2025 settled below the central bank's full-year forecast despite posting a wider deficit in December.

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Data from the Bangko Sentral ng Pilipinas (BSP) showed that the country's BoP position swung to a $5.661-billion deficit, a reversal from the $609-million surplus seen in 2024.

This was narrower than the central bank's projection of a $6.2-billion gap or -1.3% of the country's gross domestic product (GDP).

In December alone, the BoP deficit narrowed year on year to $827 million from $1.508 billion.

However, it widened from the $225-million shortfall recorded in November.

“The Philippines’ balance of payments registered an $827 million deficit in December 2025, bringing the full-year outcome to a $5.7 billion deficit,” the BSP said in a statement on late Monday.