Current Account Dynamics and the Philippine Economy: Developments and Prospects Chapter 2: Unpacking the Philippine Current Account: Trends, Drivers, and Insights

Vic Delloro and Hazel Parcon-Santos
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Vic Delloro: Bangko Sentral ng Pilipinas
Hazel Parcon-Santos: Bangko Sentral ng Pilipinas

BSP Special Publications from Bangko Sentral ng Pilipinas

Abstract: This chapter establishes the book’s central theme by thoroughly discussing the operational concept of the current account (CA) and its relationship to the Balance of Payments (BoP), which records a country’s transactions with the rest of the world, as well as the national accounts. The CA comprises the trade balance (TB), primary income (PI), and secondary income (SI). The TB, representing the difference between exports and imports of goods and services, is the largest component of the CA. A country experiences a CA surplus when its total receipts from the various CA components exceed total disbursements; otherwise, it runs a CA deficit. A CA surplus indicates that a country is lending to the rest of the world, while a CA deficit signifies borrowing.

Pages: 57 pages Creation Date: 2026-03
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Published as a BSP Special Publication, March 2026

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Persistent link: https://EconPapers.repec.org/RePEc:bhd:spcpub:ch-02

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