Current Account Balance in Philippines
The current account balance in the Philippines averaged 0.3% of GDP in the decade to 2022, below the Asia-Pacific average of 1.9% of GDP. The 2022 reading was -4.5% of GDP. For more current account information, visit our dedicated page.
Philippines Current Account Chart
Note: This chart displays Current Account (% of GDP) for Philippines from 2014 to 2023.
Source: Macrobond.
Philippines Current Account Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Current Account Balance (% of GDP) | -0.8 | 3.2 | -1.5 | -4.5 | -2.7 |
| Current Account Balance (USD bn) | -3.0 | 11.6 | -5.9 | -18.3 | -11.8 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine current account projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable current account forecast available for Philippine current account.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine current account projections.
Want to get access to the full dataset of Philippine current account forecasts? Send an email to info@focus-economics.com.