The Philippines' trade deficit increased to USD 2.76 billion in May 2021 from USD 1.31 billion in the same month a year earlier. Exports grew by 29.8 percent year-on-year to USD 5.89 billion, while imports expanded at a faster 47.7 percent to USD 8.65 billion. Considering the first five months of the year, the trade gap widened to USD 14.19 billion from USD 9.95 billion. source: National Statistics Office of Philippines

Balance of Trade in Philippines averaged -454560.61 USD Thousand from 1957 until 2021, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4415446.66 USD Thousand in October of 2018. 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 - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.

Balance of Trade in Philippines is expected to be -2600000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Philippines to stand at -3200000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -3200000.00 USD Thousand in 2022, according to our econometric models.

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Philippines Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-2755000.00 -3084940.00 1144700.00 -4415446.66 1957 - 2021 USD Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-08 01:00 AM Feb $-2.293B $-2.876B $-2.1B
2021-05-07 01:00 AM Mar $-2.412B $-2.711B $ -2.6B
2021-06-09 01:00 AM Apr $-2.734B $-2.412B $-2.2B
2021-07-09 01:00 AM May $-2.755B $-3.084B $-2.73B
2021-08-06 01:00 AM Jun $-2.755B $ -2.6B
2021-09-09 01:00 AM Jul
2021-10-12 01:00 AM Aug
2021-11-05 01:00 AM Sep $ -2.8B


News Stream
Philippines Trade Gaps Widens in May
The Philippines' trade deficit increased to USD 2.76 billion in May 2021 from USD 1.31 billion in the same month a year earlier. Exports grew by 29.8 percent year-on-year to USD 5.89 billion, while imports expanded at a faster 47.7 percent to USD 8.65 billion. Considering the first five months of the year, the trade gap widened to USD 14.19 billion from USD 9.95 billion.
2021-07-09
Philippines Trade Gap Soar in April
The Philippines' trade deficit surged to USD 2.73 billion in April 2021 from USD 0.45 billion in the same month a year earlier. Exports rose 72.1 percent year-on-year to USD 5.72 billion, while imports expanded at a faster 140.9 percent to USD 8.45 billion.
2021-06-09
Philippines Trade Gap Widens Slightly
The Philippines' trade deficit increased slightly to USD 2.41 billion in 2021 from USD 2.37 billion in the same month a year earlier. Exports jumped 31.6 percent year-on-year to a record high of USD 6.68 billion, while imports rose by 16.6 percent to the largest since January 2020 of USD 9.10 billion. Considering the first three months of the year, the trade gap was at USD 8.02 billion, down slightly from USD 8.45 billion in the same period of 2020.
2021-05-07
Philippines Posts Smallest Trade Gap in 3 Months
The Philippines' trade deficit increased to USD 2.29 billion in February 2021 from USD 1.97 billion in the same month a year earlier. This was the smallest trade gap in three months, as exports fell by 2.3 percent year-on-year to USD 5.31 billion, while imports rose 2.7 percent to USD 7.60 billion. Considering the first two months of the year, the trade gap narrowed slightly to USD 5.17 billion from USD 5.47 billion.
2021-04-08

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.