The international investment position is a snapshot of Filipinos’ investments in foreign financial assets plus gold bullion held as reserve assets, versus foreigners’ investments locally. The difference between these assets and liabilities represents either a net claim on or a net liability to the rest of the world.
On a quarterly basis, the country’s total external financial liabilities rose by $5.1 billion as of end-December 2019 due to transaction inflows, particularly in the form of foreign direct investments in equity capital and debt instruments, coupled with positive exchange rate and other valuation adjustments.
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