Philippines Balance of Trade

Last Release

Dec 31, 2025

Actual

-3,524,863

Units In

USD Thousand

-3,954,308

Frequency

Monthly

Next Release

Feb 27, 2026

Time to Release

28 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
1,144,700 Sep 1999	-6,002,680 Aug 2022	-714,172.7 USD Thousand	1957-2025	National Statistics Office of Philippines

Philippines has been running annual trade deficits due to high imports of raw materials and intermediate goods. In 2013, the biggest trade deficits were recorded with: Taiwan, Saudi Arabia, Thailand and South Korea while the biggest trade surpluses with: Japan, Hong Kong and the United States.

Latest Updates

The Philippines' trade deficit narrowed to USD 3.52 billion in December 2025 from USD 4.15 billion in the same month last year. This was the smallest trade gap since February, as exports rose much faster than imports. Exports surged by 23.3 year-on-year to USD 6.99 billion, led by higher sales of electronic products (43.6%), which remained the country’s top export commodity, accounting for 57.8% of total exports. The US has the largest export share (15.7%), despite a 19% tariff imposed in August. Other major destinations were Hong Kong (15.1%), Japan (14%), and China (11.3%). Meanwhile, imports increased by 7.1% to USD 10.52 billion, largely due to purchases of electronic products (25.8%) and mineral fuels, lubricants, and related materials (6.3%). China remained the largest supplier of imported goods (28.4%), followed by South Korea (9.8%), Indonesia (6.8%), and Japan (6.8%). In 2025, the country’s trade deficit narrowed to USD 49.17 billion from USD 54.33 billion in 2024.