Wednesday, 19 January 2011

Philippines posts $1.225B BoP surplus in Dec.

Louella D. Desiderio

THE Philippines continued to post a balance of payments surplus up to the last month of 2010, data released today by the Bangko Sentral ng Pilipinas (BSP) showed.
The surplus totaled $1.225 billion in December, higher than the $1.215 billion surplus in the same month in 2009.

It was lower though than the all-time high surplus of $3.902 billion in November.

For the full-year of 2010, the data showed the BoP surplus amounted to $14.403 billion, more than twice the $6.421 billion in the previous year.

The 2010 BoP surplus was also well-above the $8.2 billion the BSP had forecast.

The BoP provides a summary of the economic dealings of the country's residents with the rest of the world for a specific time period.

A higher BoP surplus means more money entered the country and so its ability to repay its external obligations improves.

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