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

Philippines recorded a trade deficit of 976870 USD Thousand in November of 2015. Balance of Trade in Philippines averaged -244870.54 USD Thousand from 1957 until 2015, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1936831.18 USD Thousand in October of 2015. 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
-976870.00 -1936831.18 1144700.00 -1936831.18 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. Philippines Balance of Trade - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-11-25 01:00 AM Sep $-1230M $ -953.9M $-1494M $ -974M
2015-12-29 01:00 AM Oct $-1937M $-1316M $-1305M $ -914.5M
2016-01-26 01:00 AM Nov $ -976.9M $-1937M $-1310M $-1249M
2016-02-24 01:00 AM Dec $ -976.9M $ -1025.8M
2016-03-23 01:00 AM Jan $ -931.1M
2016-04-26 01:00 AM Feb $ -732.8M

Philippine Posts Smallest Trade Gap in 5 Months


Philippines reported a trade deficit of USD976.9 million in November of 2015, as compared to a USD361.35 million gap a year earlier and above market consensus. It is the smallest deficit since June, as exports fell while imports rose less than expected.

In November, exports declined by 1.1 percent year-on-year to USD5.12 billion, following a 10.84 percent fall in the preceding month. Outbond shipments fell the most for articles of apparel and clothing accessories (-42.7 percent) and chemicals (-40.2 percent). Sales also decreased for: woodcrafts and furniture (-9.5 percent), other manufactures (-6.0 percent) and metal components (-3.7 percent). In contyrast, exports rose for: machinery and transport equipment (+54.1 percent); electronic equipment and parts (+19.7 percent); coconut oil (+17.9 percent) and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (+13.3 percent). Sales of electronic products, the country's top export revenues, also increased by 9.3 percent.

Sales dropped to China (-24.4 percent toUSD502.74 million, representing a 9.3 percent share of total exports) and Taiwan (-31.3 percent to USD386.50 million, 7.6 percent share). Sales to Japan, the country's top export destination, declined by 1.8 percent to USD1.09 billion. In contrast, outbond shipments rose to the US (+5.1 percent to USD716.73 million, 14.0 percent share), Hong Kong (+21.3 percent to USD557.71 million, 10.9 percent share), the ASEAN countries (+8.4 percent to USD713.98 million, 14.0 percent share) and the EU countries (+21.7 percent to USD617.17 million, 12.1 percent share).

Imports rose 10.1 percent to USD6.10 billion, the sixth straight month of increase. Purchases increased the most for electronic products (+68.8 percent) and industrial machinery and equipment (+37.3 percent). Import also went up for telecommunication equipment and electrical machinery (+26.8 percent), transport equipment (+19.8 percent) and cereals and cereal preparations (+1.9 percent). In contrast, inbound shipments declined for: mineral fuels, lubricants and related materials (-40.1 percent), plastics in primary and non-primary forms (-37.5 percent), iron and steel (-25.7 percent), other food and live animals (-19.6 percent) and miscellaneous manufactured articles (-0.2 percent).

Purchases from China, the biggest source of imports for Philippines, increased by 8.5 percent year-on-year to USD1.02 billion. Imports from Japan, the second largest source of purchases, rose by 60.7 percent to USD721.06 million, followed by the U.S (+33.7 percent to USD619.55 million), Taiwan (+77.5 percent to USD561.05 million), South Korea (+16.1 percent to USD466.36 million). Purchases also rose from the ASEAN countries (+11.8 percent to USD1.51 billion). In contrast, imports from the EU countries dropped by 20.1 percent to USD420.49 million.

In October 2015, the country registered a USD1,937 million trade deficit, the largest in record.

From January to November 2015, the Southeast Asian nation recorded a USD8.64 billion trade gap, widening from a USD2.63 billion in the same period of the preceding year.

PSA l Rida Husna | rida@tradingeconomics.com
1/26/2016 6:39:08 AM

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -976870.00 -1936831.18 1144700.00 -1936831.18 USD Thousand [+]
Exports 4659510.00 5117350.00 5931591.34 23000.00 USD Thousand [+]
Imports 6094660.00 6527087.50 6845663.19 37084.30 USD Thousand [+]
Current Account 88.41 509.53 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 [+]
Capital Flows 8.39 6.55 93.65 -35.30 USD Million [+]
Remittances 2190416.70 2232333.10 2316872.80 64208.00 USD Thousand [+]
Tourist Arrivals 393589.00 480689.00 489724.00 63628.00 [+]
Gold Reserves 195.80 195.60 274.42 126.89 Tonnes [+]
Foreign Direct Investment 48569.00 36211.00 230215.00 3959.00 PHP Million [+]
Crude Oil Production 38.00 38.00 40.00 0.79 BBL/D/1K [+]
Terrorism Index 7.27 7.20 7.27 5.78 [+]




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Albania -35120.80 Dec/15
Algeria -1270.00 Sep/15
Angola 1424.72 Mar/15
Argentina 254.00 Oct/15
Armenia -194.00 Dec/15
Aruba -491.66 Sep/15
Australia -3535.00 Dec/15
Austria 457.10 Nov/15
Azerbaijan 1544479.00 Sep/15
Bahamas -515.40 Sep/15
Bahrain 3441.00 Dec/14
Bangladesh -74.86 Nov/15
Barbados -212322.22 Jun/15
Belarus -427.50 Dec/15
Belgium 1956.90 Nov/15
Belize -159.67 Dec/15
Benin -167.71 Jun/15
Bhutan -26021.60 Dec/15
Bolivia -72.90 Sep/15
Bosnia and Herzegovina -401.08 Dec/15
Botswana -1998.20 Nov/15
Brazil 923.00 Jan/16
Brunei 308.00 Nov/15
Bulgaria -479.70 Nov/15
Burkina Faso -49.00 Sep/14
Burundi -61284.10 Sep/15
Cambodia -746.40 Jan/16
Cameroon -1054.40 Dec/13
Canada -584.90 Dec/15
Cape Verde -4129.20 Dec/15
Cayman Islands -791.40 Dec/14
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 685.00 Jan/16
China 600.93 Dec/15
Colombia -1.69 Nov/15
Comoros -73294.00 Dec/14
Congo 1001.80 Dec/14
Costa Rica -478.00 Dec/15
Croatia -3846.50 Dec/15
Cuba -7926.60 Dec/14
Cyprus -318952.00 Dec/15
Czech Republic 17000.00 Dec/15
Denmark 1927.30 Dec/15
Djibouti -119840.00 Dec/14
Dominican Republic -644.90 Sep/15
East Timor -95227.12 Nov/15
Ecuador -137235.00 Dec/15
Egypt -3397.00 Nov/15
El Salvador -431.10 Dec/15
Equatorial Guinea 2723.70 Dec/10
Eritrea -149.00 Dec/12
Estonia -160.52 Dec/15
Ethiopia -3413.10 Jun/15
Euro Area 23618.10 Nov/15
European Union 5862.70 Nov/15
Fiji -181343.00 Oct/15
Finland -340.00 Dec/15
France -3943.00 Dec/15
Gabon 3711.95 Dec/13
Gambia -2269.53 Dec/14
Georgia -665.00 Dec/15
Germany 18800.00 Dec/15
Ghana -1226.00 Sep/15
Greece -1563.50 Dec/15
Guatemala -540.40 Dec/15
Guinea -103.83 Jun/13
Guinea Bissau -32.30 Dec/14
Guyana -77.30 Sep/15
Haiti -160.26 Jul/15
Honduras -486.20 Nov/15
Hong Kong -45706.00 Dec/15
Hungary 201400.00 Dec/15
Iceland -1200.00 Jan/16
India -11664.00 Dec/15
Indonesia -40.00 Jan/16
Iran -2405.00 Dec/14
Iraq 38780.80 Dec/14
Ireland 3378800.00 Nov/15
Israel -248.60 Jan/16
Italy 4409.43 Nov/15
Ivory Coast 757.00 Dec/13
Jamaica -779000.00 Sep/15
Japan 140.20 Dec/15
Jordan -756171.10 Nov/15
Kazakhstan 1198.40 Nov/15
Kenya -114283.00 Nov/15
Kosovo -230094.00 Dec/15
Kuwait 1836.10 Sep/15
Kyrgyzstan -237.90 Nov/15
Laos -488.34 Sep/15
Latvia -155.50 Dec/15
Lebanon -1604.94 Dec/15
Lesotho -2384.00 Sep/15
Liberia -88.50 Sep/15
Libya -17675.60 Dec/14
Liechtenstein 315120.00 Sep/15
Lithuania -210.50 Dec/15
Luxembourg -0.38 Nov/15
Macau -6083788.93 Dec/15
Macedonia -228611.00 Dec/15
Madagascar -30435.00 Dec/16
Malawi -57415.30 Mar/15
Malaysia 7990.00 Dec/15
Maldives -137.10 Nov/15
Mali -100.60 Mar/15
Malta -149486.00 Dec/15
Mauritania -268.39 Sep/15
Mauritius -7798.00 Nov/15
Mexico -927.00 Dec/15
Moldova -189.10 Dec/15
Monaco -86.40 Sep/15
Mongolia 18.00 Nov/15
Montenegro -124400.00 Dec/15
Morocco -9053.00 Sep/15
Mozambique -1274.70 Sep/15
Myanmar -942.70 Jan/16
Namibia -9830.66 Sep/15
Nepal -76499.00 Jun/15
Netherlands 3111.00 Dec/15
New Caledonia -11456.00 Dec/15
New Zealand -52.62 Dec/15
Nicaragua -369.80 Nov/15
Niger -441985.00 Sep/15
Nigeria 197187.70 Sep/15
North Korea -695.83 Dec/14
Norway 18114.00 Dec/15
Oman 284.70 Jul/15
Pakistan -215151.00 Dec/15
Palestine -335.30 Nov/15
Panama -912393.10 Nov/15
Papua New Guinea 4191.00 Sep/15
Paraguay -4863.84 Jan/16
Peru 210.00 Dec/15
Philippines -976870.00 Nov/15
Poland 373.00 Dec/15
Portugal -1128.00 Dec/15
Puerto Rico 2916.00 Sep/16
Qatar 9305.00 Dec/15
Republic of the Congo 4092.35 Dec/10
Romania -1174.90 Dec/15
Russia 10980.00 Dec/15
Rwanda -149.04 Nov/15
Sao Tome and Principe -31.85 Sep/15
Saudi Arabia 44465.00 Sep/15
Senegal -170.26 Nov/15
Serbia -541.50 Dec/15
Seychelles -46.86 Dec/15
Sierra Leone -89.75 Mar/15
Singapore 5158.30 Dec/15
Slovakia -16.30 Dec/15
Slovenia -63.90 Dec/15
Somalia -1281.56 Dec/14
South Africa 8221.07 Dec/15
South Korea 5362.41 Jan/16
South Sudan -4987.00 Dec/13
Spain -1850000.00 Nov/15
Sri Lanka -629.70 Nov/15
Sudan -661598.00 Sep/15
Suriname -130.90 Sep/15
Swaziland 1098.48 Mar/15
Sweden 4700.00 Dec/15
Switzerland 2544.00 Dec/15
Syria 9394.50 Dec/10
Taiwan 135991.00 Dec/15
Tajikistan -214.60 Dec/15
Tanzania 207.70 Nov/15
Thailand 1490.00 Dec/15
Togo -68.29 Dec/14
Trinidad and Tobago 460.40 Jun/15
Tunisia -507.20 Jan/16
Turkey -6182.60 Dec/15
Turkmenistan 2431.94 Dec/14
Uganda -216.70 Dec/15
Ukraine -131.50 Nov/15
United Arab Emirates 480600.00 Dec/14
United Kingdom -2709.00 Dec/15
United States -43357.00 Dec/15
Uruguay -138249.00 Dec/15
Uzbekistan 168.00 Mar/15
Venezuela -782.00 Sep/15
Vietnam -200.00 Jan/16
Yemen -2914.30 Dec/13
Zambia 1226.10 Nov/15
Zimbabwe -290.99 Dec/14