Philippines Balance of Trade 1957-2015 | Data | Chart | Calendar

Philippines recorded a trade deficit of 813500.37 USD Thousand in February of 2015. Balance of Trade in Philippines averaged -234259.27 USD Thousand from 1957 until 2015, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1657980 USD Thousand in November of 2011. Balance of Trade in Philippines is reported by the National Statistics Office of Philippines.

     Forecast  
Philippines Balance of Trade


Actual Previous Highest Lowest Dates Unit Frequency
-813500.37 -862000.02 1144700.00 -1657980.00 1957 - 2015 USD Thousand Monthly
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 - Philippines Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines Balance of Trade - was last refreshed on Tuesday, April 28, 2015.


Philippines Trade Deficit Widens in February


Philippines reported a trade deficit of USD 813 million in February of 2015, markedly up from a USD 130.93 million gap a year earlier as exports fell while imports grew.

In February, exports decreased by 3.1 percent year-on-year to USD 4.51 billion. Sales of woodcrafts and furniture dropped the most by 40.7 percent, following a 43.4 percent decline in January. Outbond shipments also fell for: other mineral products (-36.6 percent), metal components (-35.4 percent), electronic equipment and parts (-24.8 percent) and machinery and transport equipment (-3.6 percent). Sales of other manufactures, the second top exports earner in February, declined by 12.8 percent, following a  45.5 percent drop in January. In contrast, exports increased for: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (+39.2 percent), articles of apparel and clothing accessories (+24.0 percent) and chemicals (+2.9 percent). Exports of electronic products, the country's top exporst and accounting for 43.7 percent, also rose by 4.8 percent, accelerating from a 14.6 percent increase in January. Among the major groups of electronic products, Components/Devices (Semiconductors), increased by 16.0 percent and accounted for 29.5 percent among electronic products.

Sales to Japan, the country's top destination of exports, fell by 20.2 percent to USD 942.29 million, followed by China (-34.8 percent to USD 445.36 million, accounting for a 9.9 percent share of exports revenue) and the EU countries (-4.5 percent to USD 522.39 million, 11.6 percent share). Those to Singapore, representing a 5.9 percent share, also declined by 14.3 percent to USD 266.52 million. In contrast, outbond shipments increased to: the US (+16.7 percent to USD 730.97 million, 16.2 percent share), Hong Kong (+28.7 percent to USD 422.23 million, 9.4 percent share) and the ASEAN countries (+7.1 percent to USD 723.28 million, 16.0 percent share). 

Imports grew by 11.2 percent to USD 5.33 billion. Purchases increased for most categories except transport equipment; mineral fuels, lubricants and related materials and telecommunication equipment and electrical machinery. Inbound shipments of miscellaneous manufactured products rose the most by 57.8 percent, followed by electronic products (+42.4 percent), cereals and cereal preparation (+39.0 percent), other food and live animals (+21.0 percent), industrial machinery and equipment (+10.7 percent) and plastics in primary and non-primary forms (+0.5 percent). In contrast, purchases of transport equipment dropped the most by 58.1 percent, followed by mineral fuels, lubricants and related materials (-43.4 percent) and telecommunication equipment and electrical machinery (-3.6 percent).

Purchases from the country's main trading partners increased except from Japan. Inbound shipments from China, the biggest source of imports, surged 47.8 percent to USD 865.59 million, followed by the US (+13.3 percent to USD 567.88 million, 10.7 percent share), Taiwan (+32.7 percent to USD 449.20 million, 8.4 percent share), Singapore (+27.2 percent to USD 436.88 million, 8.2 percent share), the ASEAN countries (+8.6 percent to USD 1.31 billion, 24.6 percent share) and the EU countries (+3.5 percent to USD 658.49 million). In contrast, sales from Japan declined by 15.2 percent to USD 403.09 million and accounted for a 7.6 percent share.

In January 2015, the country registered a revised USD 862.0 million trade deficit.

National Statistics Office l Rida Husna l rida@tradingeconomics.com
4/28/2015 10:29:39 AM


Recent Releases

Philippines Trade Deficit Largest Since April 2014
Philippines reported a trade deficit of USD 751.5 million in January of 2015, down from a USD 1.57 billion gap a year earlier as imports fell more than exports. Published on 2015-03-25

Philippines Post Small Trade Deficit in December
Philippines reported a trade deficit of USD 68.22 million in December of 2014, narrowing from a USD 485.33 million gap a year earlier as imports fell the most since April 2012 while exports declined at a slower pace. Published on 2015-02-24


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-02-24 01:00 AM
Balance of Trade  Dec
$ -68M $ 233M (R) $ 427.1M
2015-03-25 01:00 AM
Balance of Trade  Jan
$ -752M $ -67M (R) $ -910M $ -341M
2015-04-28 02:00 AM
Balance of Trade  Feb
$ -813M $ -862M (R) $ -563.2M
2015-05-27 02:00 AM
Balance of Trade  Mar
$ -813M $ 471.4M
2015-06-25 02:00 AM
Balance of Trade  Apr
$ 360.6M
2015-07-25 02:00 AM
Balance of Trade  May
$ 547.7M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -813500.37 -862000.02 1144700.00 -1657980.00 USD Thousand [+]
Exports 4513400.24 4356753.55 5848900.66 23000.00 USD Thousand [+]
Imports 5326170.75 5108291.57 5954820.00 37084.30 USD Thousand [+]
Current Account 1382.98 1492.78 1825.22 -1179.39 USD Million [+]
Current Account to GDP 4.40 4.20 5.80 -7.70 percent [+]
External Debt 77673.71 58506.00 77673.71 20893.00 USD Million [+]
Remittances 1876098.30 1813881.90 2316872.80 64208.00 USD Thousand [+]
Tourist Arrivals 487654.00 390315.00 487654.00 63628.00 [+]
Gold Reserves 195.30 194.90 274.42 126.89 Tonnes [+]
Capital Flows 10.31 9.06 93.65 -35.30 USD Million [+]
Crude Oil Production 21.00 21.00 40.00 0.79 BBL/D/1K [+]
Foreign Direct Investment 95186.00 18314.00 230215.00 3959.00 PHP Million [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1256.00 Feb/15 -1003.00 2251.00 -3884.00 AUD Million [+]
Brazil 458.00 Mar/15 -2841.76 5659.37 -4058.14 USD Million [+]
Canada -984.00 Feb/15 -1475.00 8524.80 -2902.90 CAD Million [+]
China 30.81 Mar/15 606.19 606.19 -319.71 USD Hundred Million [+]
Euro Area 20300.00 Feb/15 7600.00 24009.80 -16638.00 EUR Million [+]
France -3449.00 Feb/15 -3710.00 2674.00 -7086.00 EUR Million [+]
Germany 19515.32 Feb/15 15900.00 23500.00 -535.91 EUR Million [+]
India -11790.00 Mar/15 -6847.00 258.90 -20210.90 USD Million [+]
Indonesia 1131.60 Mar/15 662.70 4641.92 -2329.13 USD Million [+]
Italy 3537.91 Feb/15 232.00 6923.00 -6389.30 EUR Million [+]
Japan 229.26 Mar/15 -425.00 1608.67 -2795.04 JPY Billion [+]
Mexico 479.80 Mar/15 558.30 1710.25 -3292.30 USD Million [+]
Netherlands 6009.00 Feb/15 4657.10 6009.00 -907.60 EUR Million [+]
Russia 13600.00 Mar/15 13597.00 20356.00 -185.00 USD Million [+]
South Korea 8380.51 Mar/15 7706.30 8380.51 -4043.45 USD Million [+]
Spain -2037200.00 Feb/15 -2596200.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2525.00 Mar/15 2316.16 3894.91 -1478.68 CHF million [+]
Turkey -4655.64 Feb/15 -4320.27 24.51 -10453.06 USD Million [+]
United Kingdom -2859.00 Feb/15 -1536.00 2946.00 -5397.00 GBP Million [+]
United States -35444.00 Feb/15 -42676.00 1946.00 -67823.00 USD Million [+]