PH BOP posts $4.5B deficit in Q4 of 2024

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00:00The Philippines balance of payments, or BOP, swung to a $4.5 billion deficit in the fourth

00:06quarter of 2024, reversing from a $1.9 billion surplus a year earlier.

00:12The sharp decline was driven by a nearly 340 percent surge in the current account deficit

00:17to a $4.6 billion gap, and the trade gap widened and net earnings from services and primary

00:23income fell.

00:24Higher net receipts in the secondary income account provided some offset, while the capital

00:28account also weakened, with net receipts dropping 14 percent to $19 million, while

00:34the financial account posted a $2.9 billion in net outflows, reversing from $6.2 billion

00:41in net inflows last fourth quarter of 2023.

00:45The Banco Central attributed this to portfolio and other investments turning negative despite

00:50higher direct investment inflows.

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