PH posts $467-M balance of payments surplus in February

ABS-CBN News

Posted at Mar 19 2019 09:28 PM

MANILA - The Philippines booked a balance of payments (BOP) surplus of $467 million in February, a reversal of the $429 million deficit posted in the same month last year, the Bangko Sentral ng Pilipinas said Tuesday. 

The surplus last month put the country's BOP position in the first two months at a surplus of $3.17 billion.

This was a turnaround from the $961 million BOP deficit recorded in the first two months of 2018, the BSP said. 

Remittances from overseas Filipinos in January and net inflows of foreign portfolio investments were credited by the BSP as contributing to the BOP surplus. 

The Philippines has been posting BOP deficits since 2016.