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 December of 2020.

Current Account to GDP in Philippines is expected to reach -3.50 percent by the end of 2020, 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 -2.50 percent in 2021 and -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 -1776000.00 -1708000.00 1144700.00 -4415446.66 USD Thousand [+]
Current Account 1651.85 1239.33 2284.16 -1409.65 USD Million [+]
Current Account to GDP 2.20 -0.70 5.80 -7.70 percent [+]
Imports 7979030.00 8036090.00 10724291.25 37084.30 USD Thousand [+]
Exports 6202100.00 6253300.00 6341727.87 23000.00 USD Thousand [+]
External Debt 83617.93 78959.57 83617.93 20893.00 USD Million [+]
Capital Flows 3.97 4.35 93.66 -35.31 USD Million [+]
Remittances 2747463.70 2601263.30 2902415.60 64208.00 USD Thousand [+]
Tourist Arrivals 776798.00 684063.00 776798.00 63628.00 [+]
Gold Reserves 190.15 197.90 274.42 126.89 Tonnes [+]
Terrorism Index 7.14 7.18 7.27 5.78 [+]
Foreign Direct Investment 523.00 637.00 2256.00 -396.00 USD Million [+]


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.