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.