Philippines - Balance of Goods

Philippines: Balance of Goods

Mnemonic TRBG.IPHL
Unit Mil. USD, NSA
Adjustments Not Seasonally Adjusted
Monthly 23.66 %
Data Dec 2020 -3,151
Nov 2020 -2,548

Series Information

Source Central Bank of Philippines (BSP)
Release Balance of Payments
Frequency Quarterly
Start Date 1/31/2005
End Date 12/31/2020

Philippines: Trade

Reference Last Previous Units Frequency
Real Exports of Goods and Services 2021 Q1 1,212,191 1,167,388 Mil. 2018 PHP, NSA Quarterly
Real Imports of Goods and Services 2021 Q1 1,620,693 1,593,519 Mil. 2018 PHP, NSA Quarterly
Balance of Goods Dec 2020 -3,151 -2,548 Mil. USD, NSA Monthly
Current Account Balance Dec 2020 1,009 1,628 Mil. USD, NSA Monthly
Exports of Goods Dec 2020 4,382 4,468 Mil. USD, NSA Monthly
Imports of Goods Dec 2020 7,534 7,017 Mil. USD, NSA Monthly
Exports of Goods and Services 2019 Q4 1,363,027 1,448,216 Mil. PHP, NSA Quarterly
Imports of Goods and Services 2019 Q4 1,876,352 2,021,780 Mil. PHP, NSA Quarterly
Net Exports 2019 Q4 -513,324 -573,563 Mil. PHP, NSA Quarterly
Real Net Exports 2019 Q4 -276,710 -185,663 Mil. 2000 PHP, NSA Quarterly

Release Information

Balance of Payment Systematically summarizes, for a specific time period, the economic transactions of an economy with the rest of the world.

Current Account consists of transactions in goods, services, income and current transfers. This account measures the net transfer of real resources between domestic economy and the rest of the world.

Capital and Financial Account is divided into two main categories: the capital account and the financial account. The capital account covers capital transfers and acquisition/disposal of non-produced, non-financial assets while financial account covers transactions associated with financial assets and liabilities.

Overall BOP position can be in surplus, deficit or in balance. A surplus arises when inflows are greater than outflows while a deficit is incurred when outflows exceed inflows. When inflows and outflows are equally matched, the BOP position is in balance. Operationally, the BOP position is computed using two approaches; as the sum of the balances in the current, capital and financial accounts (referred to as above-the-line items) or as the change in the net international reserves that is attributed to transactions (referred to as below_the_line items). Ideally, both approaches should yield the same result. However because of data limitations particularly in the first approach, the overall BOP position is determined using the second approach and any discrepancy between the two approaches is termed as Net Unclassified Items.

Net Unclassified items (or errors and omissions) is an offsetting account to bring above_the_line and below_the_line into balance. Discrepancy arises because data sources are inadequate or inconsistent with one another in terms of coverage and time of recording. A positive discrepancy or Net Unclassified Items denotes an understatement of receipts and/or an overstatement of payments. Conversely, a negative entry denotes an overstatement of receipts and/or understatement of payments.

Revisions are produced periodically.