Current account balance as a proportion of gdp in Philippines
Philippines: Current account balance as a proportion of gdp was -2.7 in 2023. ◆ Volatile
Latest (2023)
-2.7
Change on year
up 40.3%
World rank
119th
of 191 countries
All-time high
5.45
in 2006
All-time low
-4.52
in 2022
Years of data
24
2000–2023
Current account balance as a proportion of gdp in Philippines, 2000–2023
Source: Our World in Data.
Analysis
Philippines recorded -2.7 for current account balance as a proportion of gdp in 2023.
The figure is up 40.3% on the previous year and down 167.3% over ten years.
Over the whole period, current account balance as a proportion of gdp in Philippines peaked at 5.45 in 2006 and was at its lowest, -4.52, in 2022.
Philippines ranks 119th of 191 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance as a proportion of gdp in Philippines, year by year
| Year | Value | Change |
|---|---|---|
| 2000 | -2.66 | — |
| 2001 | -2.22 | -16.5% |
| 2002 | -0.33 | -85.1% |
| 2003 | 0.33 | -200.0% |
| 2004 | 1.71 | +418.2% |
| 2005 | 1.85 | +8.2% |
| 2006 | 5.45 | +194.6% |
| 2007 | 5.17 | -5.1% |
| 2008 | 0.08 | -98.5% |
| 2009 | 4.8 | +5900.0% |
| 2010 | 3.45 | -28.1% |
| 2011 | 2.41 | -30.1% |
| 2012 | 2.65 | +10.0% |
| 2013 | 4.01 | +51.3% |
| 2014 | 3.62 | -9.7% |
| 2015 | 2.37 | -34.5% |
| 2016 | -0.38 | -116.0% |
| 2017 | -0.65 | +71.1% |
| 2018 | -2.56 | +293.8% |
| 2019 | -0.81 | -68.4% |
| 2020 | 3.2 | -495.1% |
| 2021 | -1.51 | -147.2% |
| 2022 | -4.52 | +199.3% |
| 2023 | -2.7 | -40.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.42 | -2.66 | 5.45 | 10 |
| 2010s | 1.41 | -2.56 | 4.01 | 10 |
| 2020s | -1.38 | -4.52 | 3.2 | 4 |
Countries ranked near Philippines
More economy & growth data for Philippines
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.98 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.4 Percent per annum (2029)
- GDP (constant 2015 US$), annual growth rate 4.4 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 0.9749 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 4,066 constant 2015 US$ per person (2025)
- GDP (constant LCU), annual growth rate 4.4 % change on previous year (2025)
- GDP (constant LCU), per unit of GDP 47.69 constant LCU per US$ of GDP (2025)
- GDP (constant LCU), per capita 198,897 constant LCU per person (2025)
- Gross domestic savings (current US$), annual growth rate -4.04 % change on previous year (2025)
- Gross domestic savings (current US$), per unit of GDP 0.0845 current US$ per US$ of GDP (2025)
Frequently asked questions
- What is current account balance as a proportion of gdp in Philippines?
- Current account balance as a proportion of gdp in Philippines was -2.7 in 2023, according to Our World in Data.
- What is the highest current account balance as a proportion of gdp recorded in Philippines?
- The highest recorded value was 5.45 in 2006.
- What is the lowest current account balance as a proportion of gdp recorded in Philippines?
- The lowest recorded value was -4.52 in 2022.
- How does Philippines rank for current account balance as a proportion of gdp?
- Philippines ranks 119th out of 191 countries with data for 2023.
- Is current account balance as a proportion of gdp rising or falling in Philippines?
- Over the last ten years it is down 167.3%. The long-run trend across the full record is volatile.
- Where does this Philippines data come from?
- The figures come from Our World in Data, published as part of Current account balance as a proportion of gdp. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).