The Philippines’ net external liability position eased 13.2 percent to $58.2 billion at the end of September 2025 from $67 billion in June, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Monday.
The BSP attributed the improvement in the international investment position to a combination of rising external assets and a reduction in foreign obligations. The latest figure represents 12.1 percent of the country’s gross domestic product, down from 14.1 percent in the second quarter.
Total Philippine investments in foreign assets grew 1.9 percent to $263.86 billion from $258.95 billion in the previous quarter. This was led by a 2.9-percent increase in reserve assets, which reached $109.1 billion.
Local residents also increased their holdings in foreign-issued debt securities to $38.9 billion and equity capital placements in foreign affiliates to $36.7 billion.
Foreign investments in Philippine assets fell 1.2 percent to $322.08 billion. The Bangko Sentral ng Pilipinas (BSP) noted that the drop in outstanding external financial liabilities reflected lower nonresident holdings of equity securities at $34.7 billion and a decrease in equity capital investments to $59.3 billion.
BSP officials said these trends mirrored the subdued performance of the Philippine Stock Exchange Index. They also noted that valuation adjustments resulting from the appreciation of the US dollar contributed to the decline in the stock of liabilities.
Data showed that on a year-on-year basis, the net external liability position decreased 7.1 percent from $62.7 billion. This was led by an increase in both total external assets and external liabilities compared to the same period in 2024.
