Philippines Balance of Trade 1957-2014 | Data | Chart | Calendar

Philippines recorded a trade surplus of 280966 USD Thousand in September of 2014. Balance of Trade in Philippines averaged -235697.16 USD Thousand from 1957 until 2014, 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


Actual Previous Highest Lowest Dates Unit Frequency
280966.00 -16630.00 1144700.00 -1657980.00 1957 - 2014 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, December 19, 2014.


Philippines Posts Trade Surplus in September


Philippines reported a USD 281 million trade surplus in September of 2014, reversing from a USD 654 million deficit a year earlier, and far above market forecasts. Exports grew 15.7 percent, while imports declined 2.6 percent.

In September of 2014, exports amounted to USD 5.85 billion, compared with the same month of 2013. Higher sales were recorded for: chemicals (+163.8 percent); machinery & transport equipment (+122.0 percent); other mineral products (+95.3 percent); coconut oil (+89.1 percent) and other manufactures (+14.1 percent). Electronic products,  the country's top exports and accounted for 41.8 percent of the total revenue, increased by 13.6 percent. By major group of electronics, components/devices (semiconductors) comprised 27.9 percent of the total  overseas sales and rose by 9.1 percent year-on-year to USD 1.5 billion.
 
Exports to Japan, the country's top destination, jumped by 52.6 percent year-on-year and contributed to 29.6 percent share to total exports in September. Sales also increased to China (+17.0 percent), Hong Kong (+6.1 percent), the ASEAN countries (+34.0 percent) and the EU countries (+32.6 percent). In contrast, exports to the US, the country's second top destination, decreased by 33.6 percent from a year earlier.
 
Imports decreased 2.6 percent year-on-year to USD 5.57 billion. Lower purchases were recorded for transport equipment (-43.1 percent) and electronic products (-22.0 percent). Imports of raw materials and intermediate goods, accounting for 38.3 percent of the total, decreased by 11 percent from last year.
 
China was the primary source of imports in September, accounting for a 14 percent share of the total. Inbound shipments from China rose 18.5 percent year-on-year. Purchases  from Taiwan and South Korea also increased by 7.2 percent and 23.4 percent, respectively. Those from the United States dropped by 29.3 percent and from Japan fell 5.8 percent.
 
In August of 2014, the country recorded a USD 16.6 million trade deficit.

From January to September of 2014, exports increased 9.9 percent year-on-year  to USD 46.59 billion, while imports rose 3.4 percent to USD 48.13 billion, bringing a USD 1.54 billion trade deficit during the period.
 

National Statistics Office l Rida l rida@tradingeconomics.com
11/25/2014 5:54:31 AM


Recent Releases

Philippines Trade Deficit Narrows in August
Philippines trade gap sharply decreased to USD 16.6 million in August of 2014 from a USD 608 million deficit a year earlier, and far below market forecasts. Exports grew 10.5 percent, while imports declined 1.7 percent. In July of 2014, the country recorded a USD 33 million trade deficit. Published on 2014-10-24

Philippines Trade Balance Swings to Deficit in July
Philippines reported a trade deficit of USD 33 million in July of 2014 compared to a revised USD 635 million gap a year earlier, as exports grew 12.4 percent while imports remained unchanged. In June, the country posted a revised USD 625 million trade surplus. Published on 2014-09-25


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-25 02:00 AM
Balance of Trade  Jul
$ -33M $ 625M (R) $ 134M $ 133.8M
2014-10-24 02:00 AM
Balance of Trade  Aug
$ -16.6M $ -33M $ -106M $ 257.5M
2014-11-25 01:00 AM
Balance of Trade  Sep
$ 281M $ -16.6M $ -21.3M
2014-12-23 01:00 AM
Balance of Trade  Oct
$ 281M $ 503.6M
2015-01-24 01:00 AM
Balance of Trade  Nov
2015-02-25 01:00 AM
Balance of Trade  Dec


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade 280966.00 -16630.00 1144700.00 -1657980.00 USD Thousand [+]
Exports 5172771.91 5848900.66 5848900.66 23000.00 USD Thousand [+]
Imports 5567935.16 5490982.93 5954820.00 37084.30 USD Thousand [+]
Current Account 1850.74 1712.37 2107.00 -884.00 USD Million [+]
Current Account to GDP 3.50 2.80 5.80 -7.70 percent [+]
External Debt 58506.00 60337.00 61711.00 20893.00 USD Million [+]
Remittances 2106772.30 2053418.40 2154956.20 64208.00 USD Thousand [+]
Tourist Arrivals 405970.00 428144.00 461383.00 63628.00 [+]
Gold Reserves 194.40 193.95 274.42 126.89 Tonnes [+]
Crude Oil Production 21.00 21.00 40.00 0.79 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1323.00 Oct/14 -2235.00 2226.00 -3892.00 AUD Million [+]
Brazil -2350.52 Nov/14 -1177.00 5659.37 -4058.14 USD Million [+]
Canada 100.00 Oct/14 310.00 8524.80 -2902.90 CAD Million [+]
China 544.74 Nov/14 454.05 544.74 -319.71 USD Hundred Million [+]
Euro Area 24000.00 Oct/14 18100.00 24000.00 -16638.00 EUR Million [+]
France -4608.00 Oct/14 -4715.00 2674.00 -7086.00 EUR Million [+]
Germany 21900.00 Oct/14 22100.00 23400.00 -535.91 EUR Million [+]
India -16860.00 Nov/14 -13350.00 258.90 -20210.90 USD Million [+]
Indonesia 20.00 Oct/14 -270.30 4641.92 -2329.13 USD Million [+]
Italy 5397.00 Oct/14 2020.00 6923.00 -6389.30 EUR Million [+]
Japan -891.85 Nov/14 -709.99 1608.67 -2795.04 JPY Billion [+]
Mexico 143.00 Oct/14 590.00 1710.25 -3292.30 USD Million [+]
Netherlands 5195.00 Oct/14 4707.00 5195.00 -907.60 EUR Million [+]
Russia 13595.00 Oct/14 12953.00 20356.00 -185.00 USD Million [+]
South Korea 5606.00 Nov/14 7380.00 7380.00 -4043.45 USD Million [+]
Spain -2373700.00 Sep/14 -2771962.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3868.00 Nov/14 3226.00 3901.00 -1478.68 CHF million [+]
Turkey -6251.72 Oct/14 -6925.00 24.51 -10453.06 USD Million [+]
United Kingdom -2024.00 Oct/14 -2822.00 2946.00 -5397.00 GBP Million [+]
United States -43400.00 Oct/14 -43600.00 1946.00 -67823.00 USD Million [+]