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This was on account of the 3.2 percent increase in the country' total external financial liabilities during the quarter, which outpaced the 1.4 percent growth in total external financial assets. As of
The country's total external financial liabilities expanded during the quarter, following the increases recorded across all major accounts. In particular, foreign direct investments (FDI) rose by 3.4 percent to
Meanwhile, the growth in the country's total external financial assets was due mainly to the increase in reserve assets and residents' direct investments, in the form of equity capital and debt instruments.
On a year-on-year basis, the country's net external liability position grew by 29.4 percent from
External Financial Assets
By institutional sector, The BSP continued to hold the largest share of the country's total external financial assets at 47.2 percent (
By type of instrument, majority of residents' outstanding external financial assets are in the form of reserve assets held by the BSP (45.2 percent). Meanwhile, investment in debt instruments (or intercompany lending) and debt securities issued by non-residents accounted for 15.6 percent and 13.0 percent, respectively.6 The other major financial assets include equity capital (11.9 percent), net placements in foreign currency and deposits (6.8 percent), and loans (5.2 percent).
External Financial Liabilities
The Other Sectors accounted largely for the country's total external financial liabilities with a share of 64.2 percent or equivalent to
As of
1 The International Investment Position (IIP) is a statistical statement that shows at a point in time the value of financial assets of residents of an economy that are claims on non-residents or are gold bullion held as reserve assets and the liabilities of residents of an economy to non-residents. The difference between the assets and liabilities is the net position in the IIP and represents either a net claim on or a net liability to the rest of the world. (Source: Balance of Payments and International Investment Position Manual, 6th Edition). The current end-quarter net IIP is computed as follows: previous end-quarter net IIP plus current quarter Balance of Payments net flows & other changes (e.g., market price and exchange rate changes).
2 Debt instruments under the
3 The Central bank is excluded from the Deposit-taking Corporations Sector.
4 The PSEi increased by 169.75 basis points from 6,952.88 as of
5 Other Sectors cover the following economic sectors: (a) other financial corporations, which include private and public insurance corporations, holding companies, government financial institutions, investment companies, other financial intermediaries except insurance, trust institutions/corporations, financing companies, securities dealers/brokers, lending investor, Authorized Agent Banks (AAB) forex corporations, investment houses, pawnshops, credit card companies, offshore banking units (OBUs); (b) non-financial corporations, which refer to public and private corporations and quasi-corporations, whose principal activity is the production of market goods or non-financial services; and (3) households and non-profit institutions serving households (NPISHs).
6 Debt securities under the
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Contact Information
Address
Contact Number
(+632) 8811-1277 (8811-1BSP)
Email Address
bspmail@bsp.gov.ph
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