Current account deficit narrows to $16 billion in 2025MANILA, Philippines — The country’s current account deficit narrowed in 2025 as stronger exports, record remittances from overseas Filipinos and resilient services receipts helped cushion the country’s external position despite global economic uncertainties. Data from the Bangko Sentral ng Pilipinas (BSP) showed the current account gap declined by 12.3 percent to $16.3 billion in 2025, equivalent to 3.3 percent of gross domestic product, from $18.6 billion or four percent of GDP in 2024. “The current account deficit narrowed, supported by an improved trade in goods balance amid strong export performance and higher income receipts from overseas Filipinos, consistent with record full year cash remittances in 2025,” the BSP said. The goods trade deficit eased by 3.2 percent to $66.7 billion in 2025 from $68.9 billion in 2024 as export growth outpaced the increase in imports. Exports of goods rose by 15.2 percent to $63.4 billion, supported largely by higher shipments of electronic products, machinery and transport equipment, gold and other mineral products.
