FW: RHB | Philippines| Current Account Back Into Surplus In 2Q17

 

 

 

Economic Research			19 September 2017
Philippines
Economic Update
Current Account Back Into Surplus In 2Q17   The Philippines’ current account in its BOP returned to a small surplus of USD15m, or 0% of GDP, in 2Q17. Moving forward, this surplus is expected to hold up at USD1bn, or 0.3% of GDP, in 2017. This is an improvement from a deficit of USD1bn – or 0.3% of GDP – recorded in 2016. This is as we expect a smaller trade deficit on the back of an improvement in exports and more moderate growth in imports after 2016’s election year.     Economist:  Rizki Fajar  | +6221 2970 7065
To access our recent reports please click on the links below:   13 Sept: Exports Recovered, Imports Continued To Contract In July 06 Sept: Inflation Edges Higher In August 05 Sept: M3 And Loan Growth July Pick-Up 21 Aug: Economic Growth Sustains In 2Q17 11 Aug: Policy Rates Still Unchanged in August 11 Aug: Export Growth Continues To Moderate In June
ASEAN Economic Team
Peck Boon Soon	Chief ASEAN Economist	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo Yeong Hong	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

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