Current Account Surplus Widened in 3Q16

Economic Research	19 December 2016
Philippines
Economic Update
Current Account Surplus Widened in 3Q16 Philippines’ current account in its balance of payments registered a higher surplus of USD1.0bn or 1.3% of GDP in 3Q16. Moving forward, the current account surplus is expected to shrink to USD1bn or 0.3% of GDP in 2017, from an estimated USD2.1bn or 0.7% of GDP in 2016, on expectations of: 1. A larger deficit in the merchandise trade account; 2. A smaller surplus in primary income account. Economist:  Rizki Fajar  | +6221 2970 7065