19.07.201005:29:00UTC+00Philippines Balance Of Payments Surplus At US$502 Mln In June

Philippines balance of payment surplus increased in June from the previous month.

The balance of payments surplus totaled US$502 million in June, up from US$388 million surplus in the previous month, the central bank said on Monday. A year earlier, the balance of payments surplus amounted to US$73 million.

During the Year to Date period, the balance of payments surplus totaled US$3.24 billion in June, up from US$2.73 billion surplus in the pervious period.

Philippines merchandise exports increased at a faster pace in May. Exports climbed 37.3% year-on-year to US$4.24 billion in May, faster than 28.2% in the previous month. Exports increased for the seventh consecutive month.

Copyright(c) 2010 News.com, Inc. All Rights Reserved