Current account balance (credit less debit), Net (credits less) in Philippines
Philippines: Current account balance (credit less debit), Net (credits less) was -18.26 billion in 2024. ◆ Volatile
Current account balance (credit less debit), Net (credits less debits) in Philippines, 2005–2024
Source: International Monetary Fund.
Analysis
The most recent figure for current account balance (credit less debit), net (credits less debits) in Philippines is -18.26 billion, measured in 2024. That is the lowest value across all 20 years on record.
That represents a change of down 47.4% on the previous year and down 269.8% over ten years.
Over the whole period, current account balance (credit less debit), net (credits less debits) in Philippines peaked at 11.58 billion in 2020 and was at its lowest, -18.26 billion, in 2024.
That places Philippines 191st out of 198 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance (credit less debit), Net (credits less) in Philippines, year by year
| Year | Value | Change |
|---|---|---|
| 2005 | 1.99 billion | — |
| 2006 | 6.96 billion | +249.8% |
| 2007 | 8.07 billion | +15.9% |
| 2008 | 144.02 million | -98.2% |
| 2009 | 8.45 billion | +5765.9% |
| 2010 | 7.18 billion | -15.0% |
| 2011 | 5.64 billion | -21.4% |
| 2012 | 6.95 billion | +23.2% |
| 2013 | 11.38 billion | +63.8% |
| 2014 | 10.76 billion | -5.5% |
| 2015 | 7.27 billion | -32.4% |
| 2016 | -1.20 billion | -116.5% |
| 2017 | -2.14 billion | +78.7% |
| 2018 | -8.88 billion | +314.2% |
| 2019 | -3.05 billion | -65.7% |
| 2020 | 11.58 billion | -480.0% |
| 2021 | -5.94 billion | -151.3% |
| 2022 | -18.26 billion | +207.3% |
| 2023 | -12.39 billion | -32.2% |
| 2024 | -18.26 billion | +47.4% |
Philippines compared with similar countries
- Philippines's -18.26 billion is below the median for upper middle income countries, which is -494.28 million, 36.9× the median. (54 countries reporting)
- Philippines's -18.26 billion is below the median for East Asia & Pacific, which is 65.63 million. (33 countries reporting)
Biggest year-on-year movements
Years where Current account balance (credit less debit), Net (credits less) in Philippines changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2009 | +5765.9% | 144.02 million | 8.45 billion |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5.12 billion | 144.02 million | 8.45 billion | 5 |
| 2010s | 3.39 billion | -8.88 billion | 11.38 billion | 10 |
| 2020s | -8.65 billion | -18.26 billion | 11.58 billion | 5 |
Countries ranked near Philippines
More financial sector data for Philippines
- Reserve position in the IMF, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 6.23 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 2.52 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0011 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 4.55 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 7.66 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 6.23 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 2.52 % change on previous year (2025)
Frequently asked questions
- What is current account balance (credit less debit), net (credits less debits) in Philippines?
- Current account balance (credit less debit), net (credits less debits) in Philippines was -18.26 billion in 2024, according to International Monetary Fund.
- What is the highest current account balance (credit less debit), net (credits less debits) recorded in Philippines?
- The highest recorded value was 11.58 billion in 2020.
- What is the lowest current account balance (credit less debit), net (credits less debits) recorded in Philippines?
- The lowest recorded value was -18.26 billion in 2024.
- How does Philippines rank for current account balance (credit less debit), net (credits less debits)?
- Philippines ranks 191st out of 198 countries with data for 2024.
- Is current account balance (credit less debit), net (credits less debits) rising or falling in Philippines?
- Over the last ten years it is down 269.8%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from International Monetary Fund, published as part of Current account balance (credit less debit), Net (credits less debits) (US dollar). Statizoid updates them automatically from the source API.
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About this data
The World and Country Group Aggregates (historically called BOPSY) is an annual publication, released each November, of major balance of payments and international investment position components for countries, country groups, and the world.