The reversal was due to higher net receipts of trade in services, personal remittance inflows from overseas Filipinos, and sustained net inflows of foreign direct investments and portfolio investments. At the same time, the current account deficit for the first nine months of 2019 shows narrower deficit of $ million from $ billion in the same period in 2018.
This was largely a result of the lower trade in goods deficit, combined with higher net receipts in the trade in services, and in the primary and secondary income accounts. Sixth, the current account deficit is manageable and financeable. A current account deficit is not necessarily a negative for the economy.