Finance Inquirer
No Result
View All Result
Thursday, July 10, 2025
  • Login
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
Subscribe
Finance Inquirer
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
No Result
View All Result
Finance Inquirer
No Result
View All Result
Home Finance

Trade gap to further widen, but BSP sees silver lining

Tom Hagler by Tom Hagler
30.11.2021
in Finance
Trade gap to further widen, but BSP sees silver lining
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

The Philippines continues to spend more dollars on imports than it earns from its exports, further widening a trade gap that puts the spotlight on the country’s weak export industry.

In a press briefing, officials of the Bangko Sentral ng Pilipinas (BSP) said they now expected the current account deficit — the amount by which expenses for imported goods and services exceed export receipts — to hit $10.1 billion by the end of 2019.

Despite this, BSP Deputy Governor Diwa Guinigundo remained optimistic that the account gap was “financeable” saying that imports using up dollars now would translate into higher productivity down the road.

The new forecast was higher than the $8.4 billion current account deficit that the central bank forecast in late 2018 and, if proven accurate, will represent a 28-percent increase over the $7.9-billion in trade related net dollar outflow recorded at the end of 2018.
BUSINESS

BUSINESS

BUSINESS

Although the trade gap was widening, central bank officials said they now expected the Philippines’ balance of payments account — the net total tally of dollar inflow and outflow—to end in a surplus in 2019, reversing last year’s deficit.

The latest BSP forecast showed a balance of payments surplus of $3.7 billion by the end of 2019 compared to a $2.3 billion deficit in 2018.

  • Trending
  • Comments
  • Latest
P2Pro: profitable changes are coming!

P2Pro: profitable changes are coming!

13.09.2022
Saving and investing the two keys to your future retirement

Saving and investing the two keys to your future retirement

21.06.2022
The Dow Jones slept through the whole trade despite positive data from the labor market. Nasdaq had its best streak of gains this year

The Dow Jones slept through the whole trade despite positive data from the labor market. Nasdaq had its best streak of gains this year

01.09.2022
The ranking of countries in terms of the coverage of children with preschool education has been compiled

The ranking of countries in terms of the coverage of children with preschool education has been compiled

03.11.2022
Take the best photos of your life with the new vivo Y76 5G now available

Take the best photos of your life with the new vivo Y76 5G now available

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

AirPods 3 vs AirPods 2 – What’s the Difference?

AirPods 3 vs AirPods 2 – What’s the Difference?

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

PuzzleFree Game Set to Launch in July 2025

PuzzleFree Game Set to Launch in July 2025

08.07.2025
The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

08.07.2025
Instant Cargo Analysis 24/7: How XRF Analyzer Speeds Up Quality Control for Raw Materials

Instant Cargo Analysis 24/7: How XRF Analyzer Speeds Up Quality Control for Raw Materials

08.07.2025
HIT-NOT reduces forklift accidents and increases safety in logistics

HIT-NOT reduces forklift accidents and increases safety in logistics

07.07.2025

Recent News

PuzzleFree Game Set to Launch in July 2025

PuzzleFree Game Set to Launch in July 2025

08.07.2025
The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

08.07.2025

Categories

  • Business
  • Finance
  • News
  • Stock Market
  • Technology
  • Без рубрики

Site Navigation

  • Home
  • Contact Us
Finance Inquirer

We offer multimedia features, easy channel navigation, strong social media presence and numerous engagement platforms that allow the readers to experience content anytime, anywhere, always.

No Result
View All Result
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market

© 2021 financeinquirer.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In