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

Philippines recorded a trade deficit of 75200 USD Thousand in January of 2015. Balance of Trade in Philippines averaged -232301.28 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
-751540.00 -66900.00 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. 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 Friday, March 27, 2015.


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.

In January, exports decreased by 0.5 percent year-on-year to USD 4.36 billion. Sales of other manufactures, the second top exports revenue in the month, dropped the most by 45.5 percent, following a 52.8 percent decline in December. Outbond shipments also dropped for woodcrafts and furniture (-43.4 percent), chemical (-21.8 percent), metal components (-21.6 percent)  and coconut oil(-3.3 percent). In contrast, sales increased for: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (+62.7 percent), machinery & transport equipment (+39.6 percent), articles of apparel and clothing accessories (+10.0 percent) and other mineral products (+8.7 percent). Exports of electronic products, the country's top export and accounting for 46.8 percent, also rose by 14.6 percent, accelerating from a 9.9 percent increase in December. Among the major groups of electronic products, Components/Devices (Semiconductors), increased by 16.0 percent and accounted for 32.2 percent among electronic products.
 
Sales to Japan, the country's top destination, fell by 23.2 percent to USD 882.61 million. Exports to the ASEAN countries, accounting for a 16.0 percent share, also dropped by 6.9 percent to USD 696.25 million. Those to Singapore, representing a 7.0 percent of the total earnings, declined by 21.0 percent to USD 304.89 million. In contrast, outbond shipments to China, the U.S. and Hong Kong increased. Those to the U.S., accounting for 15.9 percent share, rose the most by 15.1 percent to USD 693.87 million. Exports to China increased by 2.8 percent to USD 445.35 million, accounting for a 10.2 percent share and those to Hong Kong rose by 30.5 percent to USD 427.38 million, representing a 9.8 percent share.
 
Imports declined by 14.2 percent to USD 5.11 billion. Purchases fell for most categories except electronic products and cereals and cereal preparations. Purchases of transport equipment dropped the most by 58.1 percent), followed by mineral fuels, lubricants and related materials (-43.4 percent); iron and steel (-15.0 percent), organic and inorganic chemicals (-13.5 percent); plastics in primary and non-primary forms (-10.6 percent); indystrial machinery and equipment (-4.1 percent); other food and live animals (-3.5 percent) and miscellaneous manufactured articles (-1.8 percent). In contrast, imports of electronic products grew by 28.3 percent and those of cereals and cereal preparation rose by 5.3 percent.
 
Purchases from China, the U.S., the ASEAN countries and the EU countries declined year-on-year while those from  Singapore, Japan,  Taiwan and South Korea increased. Inbound shipments from China, the biggest source of imports, fell by 8.3 percent to USD 788.1 million, followed by the ASEAN countries (-7.8 percent to USD 1.29 billion, comprising of 23.4 percent share), the U.S. (-31.3 percent to USD 460.46 million, contributing a 9.0 percent share) and the EU countries (-7.9 percent to USD 698.37 million). In contrast, imports from Singapore rose by 39.4 percent to USD 463.41 million, followed by Japan (+7.4 percent to USD 392.39 million), Taiwan (USD 369.48 million) and South Korea (USD 331.11 million).
 
In December 2014, the country registered a revised USD 66.90 million trade deficit.

National Statistics Office l Rida Husna l rida@tradingeconomics.com
3/25/2015 11:36:21 AM


Recent Releases

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 Posts Trade Surplus in November
Philippines reported a trade surplus of USD 272.2 million in November of 2014, swinging from a revised USD 126 million deficit in the same month of the previous year as imports fell the most since April 2012 and exports surged. Published on 2015-01-27


Calendar GMT Event Actual Previous Consensus Forecast (i)
2015-01-27 01:00 AM
Balance of Trade  Nov
$ 272M $ -55.6M $ 348.2M
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
2015-04-23 02:00 AM
Balance of Trade  Feb
$ 563.2M
2015-05-27 02:00 AM
Balance of Trade  Mar
$ 471.4M
2015-06-25 02:00 AM
Balance of Trade  Apr
$ 360.6M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -751540.00 -66900.00 1144700.00 -1657980.00 USD Thousand [+]
Exports 4356753.55 4800607.46 5848900.66 23000.00 USD Thousand [+]
Imports 4868831.88 4989441.71 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 58506.00 60337.00 60442.00 20893.00 USD Million [+]
Remittances 1813882.00 2316872.80 2316872.80 64208.00 USD Thousand [+]
Tourist Arrivals 358876.00 328981.00 461383.00 63628.00 [+]
Gold Reserves 194.90 194.40 274.42 126.89 Tonnes [+]
Crude Oil Production 21.00 21.00 40.00 0.79 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -980.00 Jan/15 -503.00 2219.00 -3897.00 AUD Million [+]
Brazil -2841.76 Feb/15 -3173.95 5659.37 -4058.14 USD Million [+]
Canada -2451.00 Jan/15 -1218.00 8524.80 -2902.90 CAD Million [+]
China 606.19 Feb/15 600.30 606.19 -319.71 USD Hundred Million [+]
Euro Area 7943.60 Jan/15 24009.80 24009.80 -16638.00 EUR Million [+]
France -3726.00 Jan/15 -3296.00 2674.00 -7086.00 EUR Million [+]
Germany 15900.00 Jan/15 18900.00 23400.00 -535.91 EUR Million [+]
India -6847.00 Feb/15 -8322.00 258.90 -20210.90 USD Million [+]
Indonesia 738.30 Feb/15 743.50 4641.92 -2329.13 USD Million [+]
Italy 219.00 Jan/15 5741.00 6923.00 -6389.30 EUR Million [+]
Japan -425.00 Feb/15 -1177.50 1608.67 -2795.04 JPY Billion [+]
Mexico -3248.00 Jan/15 254.00 1710.25 -3292.30 USD Million [+]
Netherlands 5138.00 Jan/15 4891.20 5138.00 -907.60 EUR Million [+]
Russia 15047.00 Jan/15 12927.00 20356.00 -185.00 USD Million [+]
South Korea 7706.31 Feb/15 5362.32 7706.31 -4043.45 USD Million [+]
Spain -2596200.00 Jan/15 -1821800.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 2472.61 Feb/15 3409.00 3894.91 -1478.68 CHF million [+]
Turkey -4305.31 Jan/15 -8505.55 24.51 -10453.06 USD Million [+]
United Kingdom -616.00 Jan/15 -2142.00 2946.00 -5397.00 GBP Million [+]
United States -41752.00 Jan/15 -45601.00 1946.00 -67823.00 USD Million [+]