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

The Philippine's trade deficit widened to USD 3.70 billion in May of 2018 from USD 2.51 billion in the same month a year earlier. It is the largest trade gap since last December, as exports fell while imports surged. Exports dropped by 3.8 percent to USD 5.76 billion, following a downwardly revised 4.9 percent fall in the previous month. It is the fifth straight month decline in outbound shipments. Meanwhile, imports increased 11.4 percent year-on-year to USD 9.46 billion, after an upwardly revised 23.1 percent gain in April. Considering January to May, the trade deficit rose to USD 15.77 billion from USD 10.16 billion in the same period of 2017, as imports went up 10.9 percent to USD 42.68 billion while exports dropped 5 percent to USD 26.91 billion. Balance of Trade in Philippines averaged -334570.04 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 Deficit Largest in 5 Months


The Philippine's trade deficit widened to USD 3.70 billion in May of 2018 from USD 2.51 billion in the same month a year earlier. It is the largest trade gap since last December, as export fell while imports surged.

Imports increased 11.4 percent year-on-year to USD 9.46 billion, after an upwardly revised 23.1 percent gain in April. Purchases grew for : mineral fuels, lubricants and related materials (41.6); iron and steel (31.4 percent); miscellaneous manufactured articles (26.9 percent); telecommunication equipment and electrical machinery (14.8 percent); electronic products (16.1 percent); plastics in primary and non-primary forms (9.6 percent); metal products (8.7 percent), other food and live animals (7.8 percent), industrial machinery and equipment (7.6 percent). By contrast, imports fell for transport equipment (-1.6 percent). Imports increased from : : South Korea (42.4 percent); the ASEAN countries (5.1 percent). Purchases from China, the Philippine’s biggest source of purchases, also rose by 18.8 percent. In contrast, imports dropped from the EU countries (-14.1 percent); the US (-5.2 percent), and Japan (-5.6 percent).
 
Meanwhile, exports declined by 3.8 percent to USD 5.76 billion, following a downwardly revised 4.9 percent drop in the previous month. It is the fifth straight decline in outbound shipment, as sales fell for: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-40.8 percent); other mineral products (-29.5 percent), and electronics equipment part (-8.6 percent). On the other hand, exports rose for:  metal components (80.9 percent); machinery and transport equipment (29.9 percent); machinery and transport equipment (24.9 percent); cathodes and sections of cathodes, of refined copper (23.5 percent); other manufactured goods (7 percent); gold (4.4 percent), and banana (1.6 percent). Sales of electronic products, the country’s top exports, also grew 2.3 percent.
 
Among major trading partners, exports dropped to Japan (-25.8 percent); and the ASEAN countries (-0.1 percent). On the other hand, sales rose to China (8.9 percent); the US (6.6%); Hong Kong (13.8 percent), and the EU countries (2.9 percent).
 
Considering January to May, the trade deficit rose to USD 15.77 billion from USD 10.16 billion in the same period of 2017, as imports went up 10.9 percent to USD 42.68 billion while exports dropped 5 percent to USD 26.91 billion.
 


National Statistics Office of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
7/10/2018 2:27:23 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-09 01:00 AM Balance of Trade $-2608M $-2890M $ -2930M
2018-06-08 01:00 AM Balance of Trade $-3615M $-2532M $ -3294.5M
2018-07-10 01:00 AM Balance of Trade $-3701M $-3480M $ -2945.1M
2018-08-09 01:00 AM Balance of Trade $-3701M $ -2158M
2018-09-11 01:00 AM Balance of Trade $ -2921.4M
2018-10-10 01:00 AM Balance of Trade $ -3151.7M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3700751.30 -3479664.40 1144700.00 -3972222.17 USD Thousand [+]
Exports 5761742.45 5312234.89 6003047.36 23000.00 USD Thousand [+]
Imports 9462493.74 8791899.29 9462493.74 37084.30 USD Thousand [+]
Current Account -203.88 77.60 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 6.31 4.00 93.66 -35.31 USD Million [+]
Remittances 2346899.90 2359615.40 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 591137.00 642757.00 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 14208.40 21571.10 230215.40 3959.10 PHP 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 July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3700751.30 -3479664.40 1144700.00 -3972222.17 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Australia 827.00 May/18
Brazil 5881.58 Jun/18
Canada -2771.20 May/18
China 416.13 Jun/18
Euro Area 16704.70 Apr/18
France -6005.00 May/18
Germany 19669.00 May/18
India -16600.00 Jun/18
Indonesia -1523.60 May/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -1587.00 May/18
Netherlands 5030.00 May/18
Russia 15151.00 May/18
South Korea 6331.21 Jun/18
Spain -3050045.00 Apr/18
Switzerland 2255.00 May/18
Turkey -7759.34 May/18
United Kingdom -2790.00 May/18
United States -43053.00 May/18


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