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

Philippines trade balance swung into a 300923.48 USD Thousand deficit in April of 2015 from a USD 264162 USD Thousand surplus in March of 2015. Balance of Trade in Philippines averaged -233754.83 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.

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Philippines Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-300923.48 264162.00 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. Content for - Philippines Balance of Trade - was last refreshed on Tuesday, June 30, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-04-28 02:00 AM Feb $ -813M $ -862M (R) $ -563.2M
2015-05-26 02:00 AM Mar $264.1M $ -837M (R) $ -409M $-471.4M
2015-06-25 02:00 AM Apr $-300.9M $264M $ -424.6M
2015-07-25 02:00 AM May $-300.9M -297685.06
2015-08-26 02:00 AM Jun -313399.73
2015-09-25 02:00 AM Jul -423543.83


Philippines Trade Deficit Narrows in April


Philippines reported a trade deficit of USD 300.92 million in April of 2015, down from a USD 802.32 million gap a year earlier as imports fell more than exports.

In April, exports declined by 4.1 percent year-on-year to USD 4.38 billion. Sales of other mineral products fell the most by 36.8 percent, followed by other manufactures (-26.7 percent); woodcrafts and furniture (-23.9 percent); metal components (-14.5 percent); chemicals (-10.2 percent); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-7.9 percent) and articles of apparel and clothing accessories (-4.9 percent). Outbond shipments of machinery and transport equipment, the second top export earners in April 2015, also declined by 4.9 percent. In contrast, exports increased for coconut oil (+30.3 percent) and electronic products (+17.8 percent). Among the major groups of electronic products, the country's top export revenues, components/devices (semiconductors) grew by 26.7 percent from a year earlier.
 
Outbond shipments to the country’s main trading partners mostly declined. Those to the US, representing a 16.0 percent of total exports, dropped by 5.4 percent to USD700.21 million, followed by China (-17.9 percent to USD467.67 million, 10.7 percent share), Singapore (-33.2 percent to USD260.16 million, 5.9 percent share) and the ASEAN countries (-24.4 percent to USD594.95 million, 15.9 percent share). Sales to Japan, the country's top destination of exports, also fell by 16.1 percent to USD784.90 million. In contrast, exports increased to Hong Kong (+22.8 percent to USD451.07 million, 10.3 percent share) and the EU countries (+18.7 percent to USD2.1 billion.

Imports fell by 12.8 percent to USD 4.68 billion, the largest drop since February this year. Purchases fell the most for mineral fuels, lubricants and related material (-53.9 percent), followed by plastics in primary and non-primary forms (-26.1 percent), iron and steel (-23.9 percent), transport equipment (-16.0 percent) and electronic products (-5.1 percent). In contrast, inbound shipments increased for: cereals and cereal preparation (+118.7 percent), power generating and specialised machinery (+54.3 percent), other food and live animals (+27.4 percent), miscellaneous manufactured articles (+19.6 percent) and industrial machinery and equipment (+9.9 percent).

Purchases from China, the biggest source of imports, declined by 11.0 percent to USD 749.85 million. Imports also fell from: Japan (-13.5 percent to USD 353.69 million, 7.6 percent share) and the EU countries (-16.4 percent to USD 574.07 million). In contrast, purchases increased from: the US (+6.0 percent to USD 404.84 million, 8.7 percent share), Singapore (+11.2 percent to USD 388.91 million, 8.3 percent share) and the ASEAN countries (+6.5 percent to USD 1.22 billion, 26.0 percent share).
In March 2015, the country registered a USD 264 million trade surplus.



National Statistics Office l Rida Husna l rida@tradingeconomics.com
6/25/2015 9:55:11 AM


Recent Releases

Philippines Posts Trade Surplus in March
Philippines reported a trade surplus of USD 264.1 million in March of 2015, swinging from a USD 217.3 million gap a year earlier as exports grew while imports declined.
Published on 2015-05-26

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.
Published on 2015-04-28

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


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -300923.48 264162.00 1144700.00 -1657980.00 USD Thousand [+]
Exports 4376347.46 5376767.64 5848900.66 23000.00 USD Thousand [+]
Imports 4677270.90 5112605.49 5954820.00 37084.30 USD Thousand [+]
Current Account 1706.31 723.24 1854.58 -1179.39 USD Million [+]
Current Account to GDP 4.40 4.20 5.80 -7.70 percent [+]
External Debt 77673.71 78489.02 79949.42 20893.00 USD Million [+]
Remittances 2015121.80 2101498.60 2316872.80 64208.00 USD Thousand [+]
Tourist Arrivals 456524.00 479149.00 487654.00 63628.00 [+]
Gold Reserves 195.30 195.30 274.42 126.89 Tonnes [+]
Capital Flows 7.93 6.28 93.65 -35.30 USD Million [+]
Crude Oil Production 22.00 22.00 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 -3888.00 Apr/15 -1231.00 2254.00 -3888.00 AUD Million [+]
Brazil 2761.00 May/15 491.00 5659.37 -4058.14 USD Million [+]
Canada -2974.00 Apr/15 -3853.00 8524.80 -3853.00 CAD Million [+]
China 594.88 May/15 341.34 606.19 -319.71 USD Hundred Million [+]
Euro Area 24941.50 Apr/15 22974.80 24941.50 -16748.10 EUR Million [+]
France -3008.00 Apr/15 -4410.00 2674.00 -7086.00 EUR Million [+]
Germany 22100.00 Apr/15 23100.00 23500.00 -535.91 EUR Million [+]
India -10406.20 May/15 -10990.00 258.90 -20210.90 USD Million [+]
Indonesia 955.00 May/15 477.40 4641.92 -2329.13 USD Million [+]
Italy 3736.00 Apr/15 4011.00 6923.00 -6389.30 EUR Million [+]
Japan -216.00 May/15 -53.44 1608.67 -2795.04 JPY Billion [+]
Mexico -1017.00 May/15 -85.30 1710.25 -3292.30 USD Million [+]
Netherlands 5017.00 Apr/15 5440.00 6329.20 -907.60 EUR Million [+]
Russia 17142.00 May/15 15037.00 20356.00 -185.00 USD Million [+]
South Korea 6320.00 May/15 8488.00 8488.00 -4043.45 USD Million [+]
Spain -2253100.00 Apr/15 -890600.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3433.00 May/15 2658.00 3894.91 -1478.68 CHF million [+]
Turkey -6753.00 May/15 -4966.00 24.51 -10453.06 USD Million [+]
United Kingdom -1202.00 Apr/15 -3093.00 2946.00 -5397.00 GBP Million [+]
United States -40879.00 Apr/15 -50566.00 1946.00 -67823.00 USD Million [+]