The country posted a balance of payments (BoP) deficit in January, the Bangko Sentral ng Pilipinas (BSP) reported on Monday, reversing from a December rebound to the shortfalls that marked most of last year.

January’s $531-million deficit followed the previous month’s $917-million surplus and was wider than the $9-million shortfall recorded a year earlier. It was also the largest since July 2017 when the payments position stood at a deficit of $569 million.