The Philippines recorded a balance of payments surplus of $3.4 billion in June, central bank data showed Tuesday.
The monthly surplus helped significantly narrow the country’s cumulative deficit for the first half of the year, signaling improved external resilience amid global shipping disruptions.
The June figure marks a notable shift from earlier in the year, when the archipelago faced wider deficits.
The improvement suggests that export revenues and remittance inflows are outpacing import costs and capital outflows during the month.
For currency traders, the data provides a fundamental floor for the peso, reducing immediate pressure on the central bank to intervene in foreign exchange markets.
The external account strength comes as the Philippine government accelerates fiscal spending.