Philippines: Reserves

The latest value from 2023 is 103.74 billion U.S. dollars, an increase from 96.04 billion U.S. dollars in 2022. In comparison, the world average is 107.34 billion U.S. dollars, based on data from 135 countries. Historically, the average for the Philippines from 1960 to 2023 is 24.48 billion U.S. dollars. The minimum value, 0.05 billion U.S. dollars, was reached in 1961 while the maximum of 109.99 billion U.S. dollars was recorded in 2020. See the global rankings for that indicator or use the country comparator to compare trends over time.

The reserves of the Philippines and other countries include their holdings of foreign currencies and gold. These are the reserves of the central bank and the treasury of the country, not the private sector.

When countries export products or attract investment from other countries, they receive foreign currencies. They use some of these currencies to buy imports and to invest in other countries. The rest is held in reserves and some of the reserves may be converted to gold.

Definition: Total reserves comprise holdings of monetary gold, special drawing rights, reserves of IMF members held by the IMF, and holdings of foreign exchange under the control of monetary authorities. The gold component of these reserves is valued at year-end (December 31) London prices. Data are in current U.S. dollars.