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

Philippines reported a trade deficit of USD2.28 billion in April of 2016, larger than a 0.62 billion gap a year earlier. It was the largest deficit since February as exports fell while imports jumped. Year-on-year, sales declined by 4.1 percent to USD4.25 billion, following a 15.1 percent fall in March. Imports jumped by 29.2 percent to USD6.53 billion, compared to a 11.7 percent growth in March while market expected of a 20 percent gain. In March 2016, trade deficit was registered at USD1.75 billion. Balance of Trade in Philippines averaged -254321.26 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
-2275000.00 -1747000.00 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 July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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 $-2275M $-1747M $ -1752M
2016-07-26 01:00 AM May $-2275M $-1210M
2016-08-25 01:00 AM Jun $-1700M
2016-09-27 01:00 AM Jul $-3000M

Philippines Trade Deficit Largest in 3 Months


Philippines reported a trade deficit of USD2.28 billion in April of 2016, larger than a 0.62 billion gap a year earlier. It was the largest deficit since February as exports fell while imports jumped.

Year-on-year, sales declined by 4.1 percent to USD4.25 billion,  following a 15.1 percent fall in March. It was the 13rd straight month of decline, driven by lower sales of articles of apparel and clothing accessories (-39.1 percent), chemicals (-9.0 percent) and machinery and transport equipment (-0.9 percent). In contrast, exports rose for: miscellaneous manufactured articles (+50.2 percent), woodcrafts and furniture (+21.9 percent) and electronic equipments (+19.4 percent). Exports of electronic products, the country's top export revenues, also increased by 1.9 percent. 

Sales fell to the US (-0.8 percent to USD704.64 million), China (-15.1 percent to USD416.08 million) and Hong Kong (-0.4 percent to USD472.01 million). In contrast, shipments rose to Japan (+3.2 percent to USD850.72 million), Singapore (+27.3 percent to USD349.47 million), the ASEAN countries (+16.7 percent to USD719.28 million) and the EU countries (+3.1 percent to USD535.22 million).

Imports jumped by 29.2 percent to USD6.53 billion, the highest value since February, following a 11.7 percent growth in March while  market expected a 20 percent gain. Purchases increased the most for metal products (+91.0 percent), industrial machinery & equipment (+73.9 percent) and telecommunication equipment and electrical machinery (+72.8 percent). Imports also went up for: electronic products (+69.9 percent), iron and steel (+62.9 percent), miscellaneous manufactured articles (+34.2 percent),  plastics in primary and non-primary forms (+31.0 percent), transport equipment (+25.4 percent) and other food and live animals (+7.5 percent). In contrast, inbound shipment fell by 10.9 percent for mineral fuels, lubricants and related materials. 

Purchases from China, the biggest source of purchases for Philippines, rose  68.8 percent year-on-year to USD1.30 billion. Those from Japan also increased by 116.2 percent to USD748.68 million, followed by the US (+25.9 percent to USD556.93.51 million), Thailand (+63.8 percent to USD485.47 million) and the ASEAN countries (+17.3 percent to USD1.67 billion). In contrast, inbound shipments dropped to Singapore (-1.2 percent to USD430.04 million) and the EU countries (-7.0 percent to USD575.79 million). 

In March 2016, trade deficit was registered at  USD1.75 billion.


PSA l Rida Husna | rida@tradingeconomics.com
6/24/2016 3:24:02 AM

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2275000.00 -1747000.00 1144700.00 -2638000.00 USD Thousand [+]
Exports 4711021.69 4711020.00 5931591.34 23000.00 USD Thousand [+]
Imports 6528960.00 6357920.00 6845663.19 37084.30 USD Thousand [+]
Current Account -145.00 1660.00 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 7.32 8.55 93.66 -35.31 USD Million [+]
Remittances 2188361.50 2213237.60 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 445449.00 471598.00 553002.00 63628.00 [+]
Gold Reserves 195.91 195.80 274.42 126.89 Tonnes [+]
Terrorism Index 7.27 7.20 7.27 5.78 [+]
Foreign Direct Investment 26005.13 138618.00 230215.00 3959.00 PHP Million [+]
Crude Oil Production 20.00 38.00 40.00 0.79 BBL/D/1K [+]




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