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Current Account Dynamics and the Philippine Economy: Developments and Prospects Chapter 2: Unpacking the Philippine Current Account: Trends, Drivers, and Insights

Author

Listed:
  • Vic K. Delloro

    (Bangko Sentral ng Pilipinas)

  • Hazel Parcon-Santos

    (Bangko Sentral ng Pilipinas)

Abstract

This chapter establishes the book’s central theme by thoroughly discussing the operational concept of the current account (CA) and its relationship to the Balance of Payments (BoP), which records a country’s transactions with the rest of the world, as well as the national accounts. The CA comprises the trade balance (TB), primary income (PI), and secondary income (SI). The TB, representing the difference between exports and imports of goods and services, is the largest component of the CA. A country experiences a CA surplus when its total receipts from the various CA components exceed total disbursements; otherwise, it runs a CA deficit. A CA surplus indicates that a country is lending to the rest of the world, while a CA deficit signifies borrowing.

Suggested Citation

  • Vic K. Delloro & Hazel Parcon-Santos, "undated". "Current Account Dynamics and the Philippine Economy: Developments and Prospects Chapter 2: Unpacking the Philippine Current Account: Trends, Drivers, and Insights," BSP Special Publications ch-02, Bangko Sentral ng Pilipinas.
    • Handle: RePEc:bhd:spcpub:ch-02
    as

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    File URL: https://www.bsp.gov.ph/Media_And_Research/Special%20Publications/BSP-Book-Current-Account-Dynamics-and-The-Philippine-Economy.pdf
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