Philippines’ Net External Liability Position Declines Quarter-on-Quarter to US$28.5 Billion as of End-June 2022

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Second Quarter 2022 Developments

The country’s net international investment position (IIP) registered a net liability position of US$28.5 billion as of end-June 2022, lower by 9.9 percent than the US$31.6 billion recorded in end-March 2022. This development was mainly driven by the contraction in external financial liabilities (by 5.2 percent), which outpaced that of external financial assets (by 4.6 percent). As of end-June 2022, total outstanding external financial asset stood at US$229 billion, while total outstanding external financial liabilities amounted to US$257.5 billion.

On a year-on-year basis, the country’s net liability position grew by 19.1 percent from US$23.9 billion as of end-June 2021. This developed as total external financial assets decreased by 2.3 percent (from  US$234.4 billion), which more than offset the decline in total external financial liabilities of 0.3 percent (from US$258.3 billion).

External Financial Assets

Almost half (45.9 percent) of residents’ total external financial claims were held by the BSP totaling US$105.1 billion. However, this level was 6.1 percent lower than the US$111.9 billion asset holdings as of end-March 2022. The Other Sectors’ external financial assets comprised 38.9 percent of the country’s total stock of financial assets at US$89 billion. The remaining 15.3 percent of the total external financial assets of the country were held by Banks at US$35 billion.

External Financial Liabilities

The Other Sectors comprised the highest share of the country’s total external financial liabilities at 63.6 percent and amounting to US$163.8 billion as of end-June 2022. This level, however, was 6.3 percent lower than its outstanding liabilities in the previous quarter at US$174.9 billion. The National Government’s total external financial liabilities reached US$60.1 billion and accounted for 23.3 percent of the Philippines’ outstanding external financial liabilities. Bank’s share reached 11.6 percent or US$29.8 billion, while that of the BSP was 1.5 percent or US$3.8 billion of the country’s total external financial liabilities.

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Diyaryo Milenyo

DIYARYO MILENYO is a free and independent online media outfit that publishes events happening in the local communities and current issues that matter to the public with local, national and global implications. DIYARYO MILENYO is composed of volunteer journalists and community writers scattered in various parts of the Philippines. They report the news right and where it happens. It adheres to the standards and ethics of journalism. It imposes strict rules against attacking someone. Strictly adhering to publish good news only.
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