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Balance of payments back to surplus in May
The Philippine Star
|June 22, 2026
LOWER OIL PRICES, STEADY DOLLAR INFLOWS
The balance of payments (BOP) position returned to a surplus in May, snapping six straight months of deficits, as oil price rollbacks and steady dollar inflows eased pressure on the country’s external accounts.
Data released by the Bangko Sentral ng Pilipinas (BSP) showed the BOP at a surplus of $131 million in May, a sharp turnaround from the $2.12-billion deficit in April. It also reversed the $298-million deficit logged in May last year.
The BOP, which measures the country’s transactions with the rest of the world, reflects the net flow of foreign currency into and out of the economy.
Despite the improvement in May, the country’s cumulative BOP position remained in the red at $7.28 billion in the first five months of 2026, wider than the $5.82-billion deficit recorded in the same period last year.
This story is from the June 22, 2026 edition of The Philippine Star.
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