MANILA — The Philippines posted a balance of payments (BOP) surplus of US$359 million in August 2025, higher than the US$88 million surplus recorded in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported.

The central bank said the surplus reflected net income from its investments abroad, which helped narrow the cumulative BOP deficit to US$5.4 billion in January–August 2025 from US$5.8 billion in January–July 2025.

Preliminary data showed the year-to-date deficit was mainly due to the continued trade in goods gap, partly offset by sustained inflows from overseas Filipinos’ remittances, national government borrowings, foreign investments, and trade in services.

The BOP position also mirrored the rise in the country’s gross international reserves (GIR), which climbed to US$107.1 billion as of end-August 2025 from US$105.4 billion a month earlier.

The BSP said the GIR level remains a sufficient external liquidity buffer, equivalent to 7.2 months’ worth of imports of goods and payments of services and primary income. It also covers about 3.7 times the country’s short-term external debt based on residual maturity.

GIR consist of foreign-denominated securities, foreign exchange, gold, and other reserve assets. These reserves help finance imports and debt obligations, stabilize the peso, and cushion the economy from external shocks.