Philippines Balance of Trade

Last Release

Jul 31, 2025

Actual

-4,048,593

Units In

USD Thousand

-4,396,281

Frequency

Monthly

Next Release

Sep 30, 2025

Time to Release

29 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
1,144,700 Sep 1999	-6,002,680 Aug 2022	-693,811 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 4.05 billion in July 2025, compared with USD 4.88 billion in the same month last year. Exports jumped 17.3% year-on-year to USD 7.34 billion, supported by higher sales of electronic products (20.7%), other mineral products (133.1%), machinery and transport equipment (29.3%), gold (100.3%). The US accounted for the largest share of exports (15.8%), even as it imposed a 19% tariff on Philippine goods starting late July. Other major export destinations included Hong Kong (15.2%), Japan (13.6%), and China (11.3%). Meanwhile, imports increased 2.3% to USD 11.38 billion, led by higher purchases of electronic products (10.2%), miscellaneous manufactured articles (19.3%), and telecommunication equipment (24.1%). China remained the top import source, making up 29.9% of total imports, followed by South Korea (8.9%), Indonesia (7.9%), and Japan (7.4%). From January to July, the trade gap narrowed to USD 28.46 billion from USD 29.93 billion in 2024.