The Philippines posted a US$706 million balance of payments (BOP) surplus in October 2025, reflecting stronger foreign inflows and improving external conditions, the Bangko Sentral ng Pilipinas reported.

Despite the monthly surplus, the country recorded a US$4.6 billion BOP deficit from January to October 2025. The figure shows signs of narrowing as external inflows continued to strengthen toward year-end.

The central bank said the October surplus was supported by an increase in the gross international reserves (GIR), which rose to US$110.2 billion as of end-October. The level is deemed adequate as it can cover 7.4 months’ worth of imports and is equivalent to 3.8 times the country’s short-term external debt based on residual maturity.

The BOP summarizes the Philippines’ economic transactions with the rest of the world, while GIR—comprising foreign securities, foreign exchange holdings, gold, and other reserve assets—serve as a buffer to support the peso, finance imports and foreign obligations, and shield the economy from external shocks.