The Bangko Sentral ng Pilipinas (BSP) said the Philippines' international investment position (IIP) stood at a net external liability of $58.2 billion by September 2025, down from the previous quarter.
Central bank data showed that the net liability position at the end of September was 13.2% lower than the $67 billion seen at the end of June. This was also 7.1% less than the $62.7 billion recorded a year earlier.
“The low net liability position reflects higher external assets and lower external liabilities,” the BSP said in a statement late Monday.
This is equivalent to 12.1% of the country's GDP, down from the 14.1% share recorded a quarter ago.
The IIP is a gauge of an economy's external exposure, providing a snapshot of the value of its foreign financial assets and liabilities at a given point in time. Net position refers to the difference between assets and liabilities and represents the net claim or net liability on the rest of the world.
“The IIP serves as an important indicator of a country's financial relations with the rest of the world, helping to assess external vulnerabilities and resilience by showing what the country owns and owes internationally,” the central bank said.
The country's investment in foreign assets rose 1.9% to $263.9 billion at the end of September from $259 billion at the end of June and 3.3% from $255.5 billion a year earlier.
“The country's stock of external financial assets increased from $106 billion at end-June 2025 to $109.1 billion at end-September 2025, mainly due to a 2.9% increase in reserve assets,” the BSP said.
Of the total, 43% or $113.6 billion came from BSPs, while 15.6% or $41.2 billion were from banks. Other sectors invested a total of $109.1 billion during the period, or 41.3% of the total.
By type of instrument, the bulk of residents' foreign investments were reserve assets worth $109.1 billion (41.3% of the total), followed by debt instruments $42.4 billion (16.1%), debt securities $38.9 billion (14.7%), equity capital $36.7 billion (13.9%), currency and deposits $15 billion (5.7%), loans $11.9 billion (4.5%) and equity securities. $7.7 billion (2.9%).
Meanwhile, foreign investment in Philippine property declined 1.2% to $322.1 billion at the end of September from $326 billion a quarter earlier. Year over year, it climbed 1.2% to $318.2 billion.
By sector, the general government's share of total external financial liabilities during the period was 27.9% or $89.9 billion. This was followed by banks at $39.4 billion (12.2%), BSP at $3.9 billion (1.2%) and other sectors at $188.9 billion (58.6%).
Foreign debt accounted for 25% of Philippine assets at the end of September, or $80.5 billion. Investments by non-residents in other forms included $73.5 billion (22.8%) in debt instruments, $59.4 billion (18.4%) in debt securities, $59.3 billion (18.4%) in equity capital and $34.7 billion (10.8%) in equity securities.
As of September the national government remained a net debtor with liabilities of $89.9 billion, while external financial liabilities of other sectors, such as other financial corporations, non-financial corporations, and non-profit institutions serving households and households, were $79.8 billion.
On the other hand, the central bank stood as a net lender during the period, extending resources of $109.7 billion worldwide, while banks lent $1.8 billion. , Katherine K. chan