Philippines' February BOP deficit widest in 10 months — BSP

The Philippines posted its widest balance of payments (BOP) deficit in 10 months in February, data released by the Bangko Sentral ng Pilipinas (BSP) showed.

The BOP position stood at a $2.277-billion deficit in February, wider than the $373-million deficit in January, and a reversal of the $3.086-billion surplus the same month last year. This is also the widest deficit in 10 months since the $2.558-billion deficit in April 2025.

The payments position takes into account Philippine transactions with the rest of the world during a specific period. A surplus means more funds entered the country, while a deficit means more funds exited.

The latest figures brought the year-to-date BOP to a $2.651-billion deficit, wider than the $992-million deficit in the comparable period of 2025.

The BSP earlier said it expects the BOP position to hit a $3.4-billion deficit this year, equivalent to 0.6% of the gross domestic product (GDP).

Gross international reserves (GIR), meanwhile, stood at $113.3 billion as of end-February, which the central bank said remains an “adequate” external liquidity buffer equivalent to 7.5 months’ worth of imports of goods and payments of services and primary income.

This is also estimated to cover about 4.3 times the country’s short-term external debt based on residual maturity. — RSJ, GMA Integrated News