Philippines Imports1957-2021 Data | 2022-2023 Forecast | Calendar | Historical

Imports to the Philippines jumped 140.9 percent year-on-year to USD 8.45 billion in April 2021. This marked the fastest growth in inbound shipments in more than a decade, amid an acceleration in domestic demand in the aftermath of the coronavirus shocks. Purchases of transport equipment jumped by 547.4%, followed by mineral fuels, lubricants, and related materials (387.9%), and other food and live animals (283.1%). Considering the first four months of the year, arrivals gained 21.9% from the same period of 2020.

Imports to the Philippines jumped 16.6 percent year-on-year to the largest since January 2020 of USD 9.10 billion in March 2021, after an upwardly revised 8.9 percent growth in March. This was the strongest increase in inbound shipments in over two years, as domestic demand strengthened in the aftermath of the coronavirus disruptions. Arrivals grew for other food and live animals (30.9%), telecommunication equipment and electrical machinery (28%), mineral fuels, lubricants, and related materials (21.4%), electronic products (19%), plastics in primary and non-primary forms (18%), miscellaneous manufactured articles (10.2%), industrial machinery & equipment (7.3%), and iron & steel (5.4%). In contrast, purchases fell for both cereals and cereal preparations (-14.3%) and transport equipment (-1.7%). Purchases rose from China (33.3%), South Korea (12.0%), the US (8.5%), Japan (18.0%), Indonesia (27.9%), Thailand (17.3%), the EU (22.2%), and the ASEAN countries (16.5%).

Imports to the Philippines rose by 2.7 percent year-on-year to USD 7.80 billion in February 2021, swinging from a 12.1 percent plunge in the prior month. This was the first rise in inbound shipments in 21 months, as domestic demand recovered from COVID-19 shocks. Imports rose for: industrial machinery and equipment (7.0%), miscellaneous manufactured articles (1.3%), telecommunication equipment (23.2%), other food and live animals (13.7%), plastics in primary and non-primary forms (8.8%), iron & steel (5.4%), and electronic products (3.7%). In contrast, arrivals fell for transport equipment (-6.9%), mineral fuels, lubricants and related materials (-20.1%), and cereals and cereal preparations (-2.8%). Purchases increased from China (101.1%), South Korea (6.6%), Singapore (5.0%), Vietnam (9.8%). By contrast, purchases shrank from the US (-23.8%), Japan (-17.3%), Indonesia (1.7%), Malaysia (-12.6%), Thailand (-16.0%), the EU (-23.8%), and the ASEAN countries (-3.3%).

Imports to the Philippines plunged 14.9 percent year-on-year to USD 7.91 billion in January 2021, following a downwardly revised 8.2 percent fall a month earlier, as domestic demand deteriorated due to the ongoing COVID-19 disruption. Purchases declined for most components: industrial machinery and equipment (-36.9%), transport equipment (-36.8%), mineral fuels, lubricants and related materials (-33.6%), miscellaneous manufactured articles (-5.0%), telecommunication equipment and electrical machinery (-20%), iron & steel (-16.3%), other food and live animals (-15.4%), plastics in primary and non-primary forms (-8.9%), and electronic products (-0.8%). In contrast, arrivals of cereals and cereal preparations rose 9.5%. Purchases decreased from China (-18.6%), the US (-11.5%), South Korea (-24.9%), Japan (-17.7%), the US (-15.1%), Indonesia (-6.7%), the EU (-28.4%), and the ASEAN countries (-4.5%). By contrast, purchases increased from Vietnam (23.3%), Malaysia (0.7%).