Philippines Faces Iran Trade Risks Amid US 'Economic Warfare'
Economy

Philippines Faces Iran Trade Risks Amid US 'Economic Warfare'

The Philippines faces risks from continued trade with Iran following US President Trump's declaration of "economic warfare." Philippine exports to Iran increased in 2024, making future developments a focal point.

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  • PH BOP swung back to deficit in July

    The Philippines' balance of payments (BOP) returned to a deficit in July, reversing two consecutive months of surpluses. Renewed geopolitical tensions and the timing of large transactions impacted the country's external position. This led to a temporary decrease in gross international reserves and raised concerns about peso depreciation.