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

Philippines recorded a trade deficit of 554788.94 USD Thousand in June of 2015. Balance of Trade in Philippines averaged -234442.21 USD Thousand from 1957 until 2015, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1657980.45 USD Thousand in November of 2011. 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
-554788.94 508859.25 1144700.00 -1657980.45 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 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. Content for - Philippines Balance of Trade - was last refreshed on Friday, August 28, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-25 02:00 AM Apr $-300.9M $264M $ -424.6M
2015-07-24 02:00 AM May $508.9M $-337M(R) $-297.7M
2015-08-25 02:00 AM Jun $-554.79M $507M $882M $324.8M
2015-09-25 02:00 AM Jul $-554.8M $-319.3M
2015-10-24 02:00 AM Aug $ -317.9M
2015-11-25 01:00 AM Sep $ -230.7M


Philippines Trade Balance Swings to Deficit in June


Philippines reported a trade deficit of USD554.79 million in June of 2015, swinging from a USD632.84 million surplus a year earlier as exports fell while imports surged.

In June, exports declined by 3.3 percent year-on-year to USD 5.28 billion. Sales of other mineral products fell the most by 38.2 percent, followed by articles of apparel and clothing accesssories (-29.5 percent), chemicals (-17.0 percent); machinery and transport equipment (-5.8 percent); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-5.2 percent) and other manufactures (-1.6 percent). In contrast, exports increased for: copper concentrates (+295.7 percent), woodcrafts and furniture (+25.8 percent) and coconut oil (+3.9 percent). Electronic products, the country's top exports and accounted for 46.2 percent of total share, also rose by 9.5 percent. Among electronic products, components/devices grew by 16.9 percent year-on-year.
 
Outbond shipments  to the US, representing a 13.6 percent of total exports, dropped by 4.3 percent to USD720.35.00 million, followed by China (-30.2 percent to USD600.92 million, 11.4 percent share) and the ASEAN countries (-10.4 percent to USD690.47million. In contrast, sales to Japan, the country's top destination of exports, rose by 29.0 percent to USD1.24 billion. Exports also increased to Hong Kong (+10.7 percent to USD539.79 million, 10.2 percent share), South Korea (+67.2 percent to USD357.85 million, 6.8 percent share) and the EU countries (+10.1 percent to USD616.41 million, 11.7 percent share).

Imports increased by 22.6 percent to USD5.92 billion. Purchases rose the most for electronic products (+120.2 percent), followed by industrial machinery and equipment (+39.2 percent), telecommunication equipment and electrical machinery (+23.3 percent), other food and live animals (+14.3 percent), miscellaneous manufactured articles (+12.6 percent) and cereals and cereal preparations (+8.7 percent). In contrast, imports declined for: mineral fuels, lubricants and related materials (-21.9 percent); plastics in primary and non-primary forms (-14.3 percent); transport equipment (-7.2 percent) and iron and steel (-2.5 percent).

Purchases from China, the biggest source of imports, increased by 1.7 percent to USD884.06 million. Imports from the country's other trading partners also rose: the US (+123.8 percent to USD845.29 million, 14.3 percent share), Japan (+6.0 percent to  USD494.12 million, 8.3 percent share), Taiwan (+111.9 percent to USD484.83 million, the ASEAN countries (+19.3 percent to USD1.38 billion) and the EU countries (+16.0 percent to USD443.81 million). In contrast, purchases from South Korea, representing a 6.8 percent share, declined by 12.0 percent to USD403.16 million.

In June 2015, the country registered a revised USD 507 million trade surplus.


 

PSA l Rida Husna l rida@tradingeconomics.com
8/25/2015 2:52:06 AM


Recent Releases

Philippines Trade Surplus Narrows in May
Philippines reported a trade surplus of USD 508.86 million in May of 2015, down from a USD 862.71 million surplus a year earlier as exports fell more than imports.
Published on 2015-07-24

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.
Published on 2015-06-25

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 Last Previous Highest Lowest Unit
Balance of Trade -554788.94 508859.25 1144700.00 -1657980.45 USD Thousand [+]
Exports 5363958.98 4899372.25 5931591.34 23000.00 USD Thousand [+]
Imports 5918747.92 4392000.00 5954819.58 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 2173543.40 2099075.80 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 -2933.00 Jun/15 -2677.00 2254.00 -4156.00 AUD Million [+]
Brazil 2379.00 Jul/15 4527.00 5659.37 -4058.14 USD Million [+]
Canada -476.00 Jun/15 -2992.00 8524.80 -3853.00 CAD Million [+]
China 430.25 Jul/15 465.36 606.19 -319.71 USD Hundred Million [+]
Euro Area 26368.70 Jun/15 18800.00 26368.70 -16748.10 EUR Million [+]
France -2658.00 Jun/15 -3999.00 2674.00 -7086.00 EUR Million [+]
Germany 24038.00 Jun/15 19522.00 24038.00 -535.91 EUR Million [+]
India -12812.46 Jul/15 -10830.00 258.90 -20210.90 USD Million [+]
Indonesia 1330.00 Jul/15 528.00 4641.92 -2329.13 USD Million [+]
Italy 2808.95 Jun/15 4140.00 6923.00 -6389.30 EUR Million [+]
Japan -268.06 Jul/15 -69.00 1608.67 -2795.04 JPY Billion [+]
Mexico -2267.00 Jul/15 -749.00 1710.25 -3292.30 USD Million [+]
Netherlands 4760.00 Jun/15 3280.00 6211.40 -907.60 EUR Million [+]
Russia 13775.00 Jun/15 15309.00 20356.00 -185.00 USD Million [+]
South Korea 7760.00 Jul/15 9980.00 9980.00 -4043.45 USD Million [+]
Spain -2046007.00 Jun/15 -1657308.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3741.00 Jul/15 3509.00 3894.91 -1478.68 CHF million [+]
Turkey -6205.89 Jun/15 -6753.00 24.51 -10453.06 USD Million [+]
United Kingdom -1601.00 Jun/15 -885.00 2946.00 -5397.00 GBP Million [+]
United States -43840.00 Jun/15 -40940.00 1946.00 -67823.00 USD Million [+]