Philippines Balance of Trade  1957-2018 | Data | Chart | Calendar

The Philippine's trade deficit widened sharply to USD 3.55 billion in July of 2018 from USD 1.31 billion in the same month a year earlier. Imports jumped 31.6 percent year-on-year to USD 9.40 billion, after a 24.2 percent gain in rise. Meanwhile, exports inched up by 0.3 percent to USD 5.85 billion, following an upwardly revised 2.8 percent increase in the previous month. It was the second straight month increase in exports. Considering the first seven months of the year, the trade deficit surged to USD 22.49 billion from USD 13.06 billion in the same period of 2017, as imports went up 15.7 percent to USD 61.23 billion while exports dropped 2.8 percent to USD 38.74 billion. Balance of Trade in Philippines averaged -342763.37 USD Thousand from 1957 until 2018, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -3972222.17 USD Thousand in December of 2017.

Philippines Balance of Trade
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Philippines Trade Gap Widens Sharply in July


The Philippine's trade deficit widened sharply to USD 3.55 billion in July of 2018 from USD 1.31 billion in the same month a year earlier, mainly due to a surge in imports.

Imports jumped by 31.6 percent year-on-year to USD 9.40 billion, following a 24.2 percent rise in June. Purchases grew for: iron and steel (135.5 pct); transport equipment (61.1 pct); miscellaneous manufactured articles (45.4 pct); electronic products (43.2 pct); telecommunication equipment and electrical machinery (37.9 pct); mineral fuels, lubricants and related materials (35.8 pct); cereal and cereal preparations (35.7 pct); plastics in primary and non-primary forms (29.5 pct); industrial machinery and equipment (17.9 pct). By contrast inbound shipment fell for other food and live animals (-6.2 pct).
 
Inbound shipments went up from: South Korea (50.7 pct); the EU countries (78.9 pct); the ASEAN countries (20.5 pct); the US (21 pct), and Japan (16.4 pct). Purchases from China, the Philippine’s biggest source of purchases, also rose by 51.2 percent. 
 
Meantime, exports edged up by 0.3 percent to USD 5.85 billion, after an upwardly revised 2.8 percent gain in the previous month. It marked the second straight increase in outbound shipments, as sales increased for: miscellaneous manufactured articles (80.2 pct); bananas (60.3 pct); electronics equipment and parts (43.3 pct); other mineral products (33.6 pct); metal components (8.7 pct). Sales of electronic products, the country’s top exports, also grew 5.2 percent. On the other hand, exports fell for: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-18.8 pct); machinery and transports equipment (-14.4 pct); other manufactured goods (-7.3 pct), and cathodes and sections of cathodes, of refines copper (-0.1 pct).
 
Among major trading partners, exports rose to the US (7.4 pct); China (10.4 pct); Hong Kong (11.4 pct), and the ASEAN countries (13.5 pct). Meantime, sales declined to Japan (-18.6 pct).
 
Considering the first seven months of the year, the trade deficit surged to USD 22.49 billion from USD 13.06 billion in the same period of 2017, as imports went up 15.7 percent to USD 61.23 billion while exports dropped 2.8 percent to USD 38.74 billion.

  


National Statistics Office of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
9/11/2018 2:10:48 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-07-10 01:00 AM Balance of Trade $-3701M $-3480M $ -2945.1M
2018-08-08 01:00 AM Balance of Trade $-3350M $-3690M $ -2158M
2018-09-11 01:00 AM Balance of Trade $-3546M $-3188M $ -2921.4M
2018-10-10 01:00 AM Balance of Trade $-3546M $ -3151.7M
2018-11-09 01:00 AM Balance of Trade $ -3480M
2018-12-11 01:00 AM Balance of Trade $ -2537.6M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3546064.93 -3188353.69 1144700.00 -3972222.17 USD Thousand [+]
Exports 5851324.67 5861854.80 6003047.36 23000.00 USD Thousand [+]
Imports 9397389.59 9050208.49 9568839.68 37084.30 USD Thousand [+]
Current Account -823.78 -1171.01 1810.97 -1455.03 USD Million [+]
Current Account to GDP -0.80 -0.40 5.80 -7.70 percent [+]
External Debt 73097.87 76621.97 79949.42 20893.00 USD Million [+]
Capital Flows 0.86 -1.71 93.66 -35.31 USD Million [+]
Remittances 2401000.00 2356881.00 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 601322.00 528747.00 732506.00 63628.00 [+]
Gold Reserves 196.40 196.40 274.42 126.89 Tonnes [+]
Terrorism Index 7.13 7.10 7.27 5.78 [+]
Foreign Direct Investment 831.00 1645.00 2256.00 -396.00 USD Million [+]
Crude Oil Production 15.00 15.00 38.00 1.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Philippines Balance of Trade

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. This page provides the latest reported value for - Philippines Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3546064.93 -3188353.69 1144700.00 -3972222.17 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Argentina -789.00 Jul/18
Australia 1551.00 Jul/18
Brazil 3774.99 Aug/18
Canada -114.30 Jul/18
China 279.10 Aug/18
Euro Area 17555.60 Jul/18
France -3490.00 Jul/18
Germany 16461.00 Jul/18
India -17390.00 Aug/18
Indonesia -1021.40 Aug/18
Italy 5676.00 Jul/18
Japan -445.00 Aug/18
Mexico -2889.20 Jul/18
Netherlands 4612.00 Jul/18
Russia 13402.00 Jul/18
Saudi Arabia 120299.00 Mar/18
Singapore 6755.10 Aug/18
South Africa -4657.00 Jul/18
South Korea 6900.00 Aug/18
Spain -2448240.00 Jun/18
Switzerland 1154.26 Jul/18
Turkey -5980.00 Jul/18
United Kingdom -111.00 Jul/18
United States -50082.00 Jul/18


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