Philippines Balance of Trade

Last Release

Oct 31, 2025

Actual

-3,827,772.65

Units In

USD Thousand

-4,669,614.45

Frequency

Monthly

Next Release

Dec 26, 2025

Time to Release

25 Days 15 Hours

Highest	Lowest	Average	Date Range	Source
1,144,700 Sep 1999	-6,002,680 Aug 2022	-706,404.4 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 3.83 billion in October 2025, the lowest in five months, from USD 5.81 billion a year earlier. Exports jumped to a four-month high of 19.4% year-on-year to USD 7.39 billion, driven by higher sales of electronic products (+44.4%), mainly semiconductors (+58.6%). Shipments of machinery and transport equipment also surged (+102.7%). The US accounted for the largest export share (15.7%), despite a 19% tariff imposed in August. Other major destinations included Japan (14.1%), Hong Kong (13%), and China (11.7%). Meanwhile, imports declined 6.5% to USD 11.22 billion, due to lower purchases of mineral fuels and lubricants (-19.6%) and transport equipment (-27.5%). China remained the top import source (30.4%), followed by Japan (8.2%), Indonesia (7.1%), and South Korea (6.9%). From January to October, the trade gap fell to USD 41.32 billion from USD 45.25 billion in 2024.