Philippines Balance of Trade  1957-2016 | Data | Chart | Calendar

Philippines reported a trade deficit of USD1.75 billion in March of 2016, larger than a 0.26 billion gap a year earlier as exports fell while imports rose. Year-on-year, sales declined by 15.1 percent year-on-year to USD4.61 billion, following a 4.5 percent fall in the preceding month. It is the 12th consecutive month of decline and the fastest pace since September 2015. Imports rose 11.7 percent to USD6.35 billion, after gaining 5.6 percent in February. Balance of Trade in Philippines averaged -251082.53 USD Thousand from 1957 until 2016, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -2638000 USD Thousand in January of 2016. Balance of Trade in Philippines is reported by the National Statistics Office of Philippines.

Philippines Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
-1747000.00 -1104000.00 1144700.00 -2638000.00 1957 - 2016 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 the latest reported value for - Philippines Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-03-23 01:00 AM Jan $-2638M $603M $-220M $ -113M
2016-04-26 01:00 AM Feb $-1104M $-2638M $ -885M
2016-05-25 01:00 AM Mar $-1747M $-1104M $-915M
2016-06-24 01:00 AM Apr $-1747M $ -1751.8M
2016-07-26 01:00 AM May $ -1171.5M
2016-08-25 01:00 AM Jun $ -1345.3M

Philippines Trade Deficit Widens Sharply in March


Philippines reported a trade deficit of USD1.75 billion in March of 2016, larger than a 0.26 billion gap a year earlier as exports fell while imports rose.

Year-on-year, sales declined by 15.1 percent year-on-year to USD4.61 billion in March of 2016, following a 4.5 percent fall in the preceding month. It is the 12th consecutive month of decline and the fastest pace since September 2015. Outbond shipments fell the most for: articles of apparel and clothing accessories (-52.2 percent), followed by chemicals (-40.7 percent), metal components (-29.8 percent), machinery and transport equipment (-25.9 percent). In contrast, sales rose for: woodcrafts and furniture (+28.0 percent) and gold (+25.9 percent). Exports of electronic products, the country's top export revenues, also increased slightly by 1.0 percent. 

Outbound shipments declined to Japan (-13.6 percent to USD991.43 million), the US (-23.6 percent to USD672.85 million), China (-23.4 percent), the ASEAN countries (-0.6 percent to USD689.11 million) and the EU countries (-17.2 percent to USD576.93 million). In contrast, exports rose to Hong Kong (+11.6 percent to USD574.73 million).

Imports rose 11.7 percent to USD6.35 billion, after declining 5.6 percent in February. Purchases increased the most for iron and steel (+66.3 percent), industrial machinery & equipment (+50.4 percent), other food and live animals (+34.9 percent), electronic products (+30.1 percent), telecommunication equipment and electrical machinery (+26.0 percent) and miscellaneous manufactured articles (+14.1 percent). In contrast, inbound shipments declined for: mineral fuels, lubricants and related materials (-13.1 percent), organic and inorganic chemicals (-10.2 percent), plastics in primary and non-primary forms (-9.5 percent) and transport equipment (-2.3 percent). 

Purchases from China, the biggest source of purchases for Philippines, rose  45.3 percent year-on-year to USD1.03 billion. Those from Japan also increased by 48.9 percent to USD770.03 million, followed by  Thailand (+84.2 percent to USD619.51 million), South Korea (+6.7 percent to USD446.09 million) and the ASEAN countries (+27.9 percent to USD1.80 billion). In contrast, inbound shipments dropped to the US (-3.7 percent to USD574.76 million) and the EU countries (-40.0 percent to USD472.73 million). 

In February 2016, trade deficit was registered at  USD1.10 billion.

PSA l Rida Husna | rida@tradingeconomics.com
5/25/2016 3:51:41 AM

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -1747000.00 -1104000.00 1144700.00 -2638000.00 USD Thousand [+]
Exports 4611340.00 4310370.00 5931591.34 23000.00 USD Thousand [+]
Imports 6357920.00 5414180.18 6845663.19 37084.30 USD Thousand [+]
Current Account 3157.13 540.04 3157.13 -1179.40 USD Million [+]
Current Account to GDP 2.90 3.80 5.80 -7.70 percent [+]
External Debt 77474.07 77673.71 79949.42 20893.00 USD Million [+]
Capital Flows 7.89 7.36 93.66 -35.31 USD Million [+]
Remittances 2425449.60 2110264.80 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 510270.00 549725.00 553002.00 63628.00 [+]
Gold Reserves 195.80 195.60 274.42 126.89 Tonnes [+]
Terrorism Index 7.27 7.20 7.27 5.78 [+]
Foreign Direct Investment 138618.00 48571.00 230215.00 3959.00 PHP Million [+]
Crude Oil Production 20.00 38.00 40.00 0.79 BBL/D/1K [+]




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Brazil 4860.00 Apr/16
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Czech Republic 53900.00 Mar/16
Denmark 8108.60 Mar/16
Djibouti -119840.00 Dec/14
Dominican Republic -688.50 Dec/15
East Timor -49370.69 Mar/16
Ecuador 18691.00 Mar/16
Egypt -2258.00 Mar/16
El Salvador -359.50 Apr/16
Equatorial Guinea 2723.70 Dec/10
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Euro Area 28644.00 Mar/16
European Union 7202.30 Mar/16
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Finland -265.00 Mar/16
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Gabon 3711.95 Dec/13
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Germany 26000.00 Mar/16
Ghana -1226.00 Sep/15
Greece -1535.24 Mar/16
Guatemala -405.70 Mar/16
Guinea -103.83 Jun/13
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Guyana -77.30 Sep/15
Haiti -160.26 Jul/15
Honduras -465.70 Dec/15
Hong Kong -31027.00 Apr/16
Hungary 300000.00 Mar/16
Iceland -6600.00 Apr/16
India -4840.00 Apr/16
Indonesia 670.00 Apr/16
Iran 4258.00 Dec/15
Iraq 38780.80 Dec/14
Ireland 4106000.00 Mar/16
Israel -950.30 Apr/16
Italy 5360.00 Mar/16
Ivory Coast 890.60 Dec/14
Jamaica -779000.00 Sep/15
Japan 823.47 Apr/16
Jordan -741181.00 Feb/16
Kazakhstan 784.90 Mar/16
Kenya -60391.09 Mar/16
Kosovo -227670.00 Apr/16
Kuwait 1049.00 Dec/15
Kyrgyzstan -216.90 Mar/16
Laos -488.34 Sep/15
Latvia -192.00 Mar/16
Lebanon -1373.07 Apr/16
Lesotho -2961.47 Dec/15
Liberia -78.20 Feb/16
Libya -17675.60 Dec/14
Liechtenstein 371580.00 Mar/16
Lithuania -228.70 Mar/16
Luxembourg -0.44 Mar/16
Macau -4479038.32 Mar/16
Macedonia -193229.00 Mar/16
Madagascar -30435.00 Dec/15
Malawi -31524.80 Sep/15
Malaysia 11192.61 Mar/16
Maldives -133.30 Feb/16
Mali -100.60 Mar/15
Malta -177981.00 Mar/16
Mauritania -24.89 Dec/15
Mauritius -6913.00 Mar/16
Mexico -2079.60 Apr/16
Moldova -233.00 Mar/16
Monaco -22.60 Dec/15
Mongolia 124.70 Apr/16
Montenegro -155940.00 Apr/16
Morocco -15231.00 Apr/16
Mozambique -1754.40 Dec/15
Myanmar -72.20 Sep/15
Namibia -8322.34 Dec/15
Nepal -58541.90 Dec/15
Netherlands 5017.00 Mar/16
New Caledonia -9528.00 Feb/16
New Zealand 292.00 Apr/16
Nicaragua -225.70 Feb/16
Niger -441985.00 Sep/15
Nigeria 26385.50 Dec/15
North Korea -476.67 Dec/15
Norway 10602.00 Apr/16
Oman -45.20 Dec/15
Pakistan -225061.00 Apr/16
Palestine -326.70 Mar/16
Panama -950888.00 Mar/16
Papua New Guinea 4191.00 Sep/15
Paraguay 125672.34 Apr/16
Peru -45.00 Mar/16
Philippines -1747000.00 Mar/16
Poland 204.00 Mar/16
Portugal -1039.99 Mar/16
Puerto Rico 2054.10 Dec/15
Qatar 7409.00 Feb/16
Republic of the Congo 4092.35 Dec/10
Romania -973.90 Mar/16
Russia 7712.00 Mar/16
Rwanda -150.29 Dec/15
Sao Tome and Principe -24.59 Mar/16
Saudi Arabia 22467.00 Dec/15
Senegal -94.80 Mar/16
Serbia -406.80 Mar/16
Seychelles -31.02 Mar/16
Sierra Leone -33.70 Dec/15
Singapore 5843.00 Apr/16
Slovakia 308.00 Mar/16
Slovenia 133.87 Mar/16
Somalia -1473.48 Dec/15
South Africa 2915.79 Mar/16
South Korea 8800.00 Apr/16
South Sudan -3492.00 Dec/14
Spain -795890.00 Mar/16
Sri Lanka -695.00 Jan/16
Sudan -921327.00 Dec/15
Suriname -103.40 Dec/15
Swaziland 1217.38 Dec/15
Sweden 4400.00 Apr/16
Switzerland 2504.00 Apr/16
Syria 9394.50 Dec/10
Taiwan 4802.67 Apr/16
Tajikistan -169.20 Mar/16
Tanzania 19.70 Feb/16
Thailand 721.35 Apr/16
Togo -68.29 Dec/14
Trinidad and Tobago 339.40 Sep/15
Tunisia -1578.70 Apr/16
Turkey -4950.00 Mar/16
Turkmenistan 2431.94 Dec/14
Uganda -164.60 Mar/16
Ukraine -230.30 Mar/16
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Zimbabwe -290.99 Dec/14