Quantcast
Latest Stories

July balance of payments surplus hits 6-month high

Strong foreign investments, remittances flow

By

The country’s balance of payments (BOP) surplus hit a six-month high of $1.099 billion in July.

Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the July figure was the highest since January, when the BOP surplus reached $2.043 billion.

This was achieved as foreign investors returned to the Philippines after pulling out in droves in June amid widespread aversion to emerging markets in view of the reported tapering of the US Fed’s bond-buying program.

The BOP position is the summary of all transactions between the country and the rest of the world. A surplus in the BOP indicates that more money came into the country than the money that went out during a given period.

The surplus in July was also significantly higher than the June surplus of $692 million.

For January to July, the country’s BOP surplus reached $3.677 billion, lower than the $4.498 billion a year ago.

Latest available data showed that foreign investments in local stocks, bonds and government securities reached a net inflow of $895 million in July, a turnaround from the $23 million outflow recorded the month before.

Another major component contributing to the surplus in the BOP are remittances from overseas Filipino workers, which are expected to reach $22.5 billion this year, up by 5 percent from the 2012 level.

Remittances from OFWs reached $10.7 billion in the first half this year amid sustained demand for skilled Filipino labor, the BSP said earlier this month.

For June alone, remittances reached $1.916 billion, up 5.8 percent year on year.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: balance of payments (BOP) , BOP surplus , Philippines

  • Ros Feliciano

    Is our government contented that we people leave our country and offer our services to foreigners who don’t have appreciation of our services? Another indication is, there are even those who are intending to create a department for OFWs, which means that there is no end to our misery for not being with our loved ones back home because we have no other choice to survive as we cannot find work that fit our talents in our own country?

  • Ros Feliciano

    This will be much better if the pork barrel will be abolished for good.

  • Ros Feliciano

    Yes remittances from us OFWs but ironically our President did not even mention about us even for a minute in his latest SONA

  • basilionisisa

    well done! patunay na pag walang under the table deals maganda ang result! magpatuloy sana!

  • txtman

    _______ MAKES ME VOMIT _____
    .
    REMITTANCE IN:
    ____ JUNE 2013 = $ 1.916 BILLION
    ____ JULY 2013 = $ 2.1 BILLION ( BSP DATA)
    .
    EH, ANO ANG EXPORT & IMPORT VALUES NATIN?
    TUMAAS BA ANG EXPORTS NATIN?
    OFWs MONEY ULIT
    MEANING, NO JOBS IN THE PHILIPPINES
    ___ CHINA & THE CHINESE/OLIGARDS LANG ULIT NAKINABANG
    AS SIMPLE AS THAT
    .
    NOTHING TO BRAG FROM THIS GOVERNMENT
    PWEEE
    PITIFUL

    • nick

      patayo ka kasi factory para me export/import tayo.

      • lanceads

        HAHA TAMA…



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace