BOP gap narrows in NovemberMANILA, Philippines — The country’s balance of payments (BOP) deficit narrowed in November compared to a year ago as seasonal inflows and easing import payments helped temper external pressures, even as cumulative figures remained in the red. The BOP gap marked the biggest in six months or since the $298-million shortfall recorded in May. Prior to November, the country posted BOP surpluses for three consecutive months, helping narrow the cumulative deficit from $5.76 billion as of August. Rivera added that the BOP may remain volatile in the near term but could stabilize as seasonal imports ease and global financial conditions improve. “The widening cumulative BOP deficit reflects a timing and composition story rather than a sudden loss of external strength,” Roces said.

Source: Philippine Star December 21, 2025 18:11 UTC