Philippines Balance of Trade

Last Release

Apr 30, 2025

Actual

-3,494,955.6

Units In

USD Thousand

-4,512,696.4

Frequency

Monthly

Next Release

Jun 27, 2025

Time to Release

25 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
1,144,700 Sep 1999	-6,002,680 Aug 2022	-681,038.72 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 3.5 billion in April 2025 from USD 4.7 billion in the same month last year, as exports rose while imports fell. Year-on-year, exports climbed by 7% to USD 6.7 billion, driven by higher sales of other manufactured goods (143.8%), metal components (26.9%), and bananas (25.4%). The US accounted for the largest share of exports (15.9%), followed by Japan (13.2%), Hong Kong (13.2%), and China (10.4%). Meanwhile, imports dropped by 7.2% to USD 10.2 billion, mainly due to reduced purchases of mineral fuels, lubricants and related materials (-35.1%), iron and steel (-25.3%), and cereals and cereal preparations (-17.8%). China remained the top import source, accounting for 28.2% of total imports, followed by Japan (8.3%), Indonesia (8%), and South Korea (7.4%). Considering the first four months of the year, the trade deficit slightly decreased to USD 15.9 billion , compared to USD 16 billion in the corresponding period of the previous year.