Philippines' Q2 current account surplus $2.5-B
MANILA, Philippines - The Philippines' current account yielded a surplus of $2.5 billion, equivalent to 3.6% of GDP, in the second quarter compared to a surplus of $2.3 billion a year ago, the Bangko Sentral ng Pilipinas said in a statement.
The current account is the sum of the balance of trade, net income from abroad and net current transfers.
The Philippines posted a surplus despite weak exports growth.
The BOP surplus in January to August reached $3.36 billion, central bank data released on Thursday showed. The central bank has forecast a full-year BOP surplus of $4.4 billion.
The central bank has said the country's "healthy" external accounts should help support the Philippine peso.