BOP reverts to surplus after 6 months in deficitPreliminary data released by the central bank showed that the $711-million BOP surplus recorded last month put an end to the series of shortfalls recorded since April. Preliminary data released by the central bank showed that the $711-million BOP surplus recorded last month put an end to the series of shortfalls recorded since April. The amount reversed the four-year-high $2.34-billion deficit recorded in September, but was 37.7 percent lower than the $1.14-billion surplus booked in October last year. “The BOP surplus in October 2022 reflected inflows arising mainly from the national government’s net foreign currency deposits with the BSP,” the central bank said in a statement. From January to October, the Philippines posted a BOP shortfall of $7.12 billion versus the $476 million surplus recorded in the same period last year.
