Philippines Balance of Trade  1957-2017 | Data | Chart | Calendar

Philippines reported a trade deficit of USD 2.57 billion in November of 2016, compared to a USD 0.98 billion gap a year earlier. It was the largest trade gap since January, as exports fell while imports rose. year-on-year, sales decreased 7.5 percent to USD 4.73 billion, following a 3.7 percent growth in October. Imports jumped 19.7 percent to USD 7.30 billion, compared to a 5.9 percent rise in the prior month. From January to November 2016, exports shrank 5.2 percent from the same period a year earlier to USD 51.36 billion while imports went up 13.7 percent to USD 73.72 billion. That brought the trade deficit during the period to USD 22.36 billion, widening sharply from a USD 10.65 billion gap in the prior year. Balance of Trade in Philippines averaged -273046.59 USD Thousand from 1957 until 2016, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -2637938.69 USD Thousand in January of 2016.

Philippines Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-10 01:00 AM Sep $-1890M $-1952M $-2750M
2016-12-09 01:00 AM Oct $-2163M $-1890M $-3650M
2017-01-10 01:00 AM Nov $-2566M $-2163M
2017-02-10 01:00 AM Dec $-2566M
2017-03-10 01:00 AM Jan
2017-04-11 01:00 AM Feb




Philippines Trade Gap Widens to 10-Month High


Philippines reported a trade deficit of USD 2.57 billion in November of 2016, compared to a USD 0.98 billion gap a year earlier. It was the largest trade gap since January, as exports fell while imports rose.

In November, sales decreased 7.5 percent from a year ago to USD 4.73 billion following a 3.7 percent rise in October. It was the first drop in three months, as sales declined for: woodcrafts and furniture (-28.9 percent), machinery and transport equipment (-25.4 percent), chemicals (-26.2 percent), ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-25.6 percent), machinery and transport equipment (-25.4 percent), articles of apparel and clothing accessories (-7.6 percent), and metal components (-2.0 percent). Sales of electronic products, the country's top export revenues, also fell 7.9 percent. In contrast, sales rose for: coconut oil (+44 percent), other mineral products (+39 percent), and other manufactures (+3 percent).  Outbound shipments fell to the US (-13.5 percent), Singapore (-8.6 percent) and the ASEAN countries (-1.3 percent). Those to Japan, the country's top export destination also dropped by 21.8 percent. In contrast, sales went up to China (+5.2 percent) and Hong Kong (+4.7 percent).

Imports jumped 19.7 percent to USD 7.30 billion in November of 2016, compared to a 5.9 percent rise in the preceding month. It was the fastest growth in six months, as purchases rose for most categories : iron and steel (+100 pecent), transport equipment (+76.3 percent), industrial machinery and equipment (+52.2 percent),  miscellaneous manufactured articles (+51.6 percent), plastics in primary and non-primary forms (+50.3 percent), telecommunication equipment and electrical machinery (+32.3 percent), and other food and live animal (+27.3 percent). In contrast, imports of electronic products fell 7 percent. Purchases increased from: China (+20.3 percent), Japan (+15.1 percent), Thailand (+22.1 percent), the ASEAN countries (+31 percent) and the EU countries (+26.1 percent). In contrast, imports declined from the US (-4.2 percent).

From January to November 2016, exports shrank 5.2 percent from the same period a year earlier to USD 51.36 billion while imports went up 13.7 percent to USD 73.72 billion. That brought the trade deficit during the period to USD 22.36 billion, widening sharply from a USD 10.65 billion gap in the prior year.

In October 2016, trade deficit was recorded at  USD 2.16 billion.
 



Statistics of Phillippines l Chusnul Ch Manan| chusnul@tradingeconomics.com
1/10/2017 3:09:17 AM



Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2566000.00 -2163034.12 1144700.00 -2637938.69 USD Thousand [+]
Exports 4732350.00 4757921.31 5931591.34 23000.00 USD Thousand [+]
Imports 7297950.00 6920955.43 7297950.00 37084.30 USD Thousand [+]
Current Account 567.04 366.99 1810.97 -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 9.94 10.46 93.66 -35.31 USD Million [+]
Remittances 2217000.00 2090000.00 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 443025.00 422943.00 560872.00 63628.00 [+]
Gold Reserves 196.18 196.18 274.42 126.89 Tonnes [+]
Terrorism Index 7.10 7.27 7.27 5.78 [+]
Foreign Direct Investment 26710.80 40390.70 230215.40 3959.10 PHP Million [+]
Crude Oil Production 25.00 25.00 40.00 0.79 BBL/D/1K [+]



Philippines Balance of Trade Notes

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 January of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2566000.00 -2163034.12 1144700.00 -2637938.69 1957 - 2016 USD Thousand Monthly



Last
Afghanistan -7159.00 Dec/15
Albania -33679.40 Dec/16
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina 100.00 Nov/16
Armenia -173.30 Nov/16
Aruba -465.10 Sep/16
Australia 1243.00 Nov/16
Austria -465.00 Oct/16
Azerbaijan 981353.00 Sep/16
Bahamas -517.60 Sep/16
Bahrain 312.40 Dec/15
Bangladesh -89.57 Oct/16
Barbados -181864.00 Jun/16
Belarus -340.90 Nov/16
Belgium 2456.70 Nov/16
Belize -153.10 Nov/16
Benin -278.15 Sep/16
Bhutan -26021.60 Dec/15
Bolivia -116.89 Sep/16
Bosnia and Herzegovina -499648.55 Nov/16
Botswana -2508.80 Oct/16
Brazil 4415.00 Dec/16
Brunei 296.10 Nov/16
Bulgaria -241.80 Nov/16
Burkina Faso -86.40 Mar/16
Burundi -118434.20 Aug/16
Cambodia -554.50 Sep/16
Cameroon -1189.42 Dec/14
Canada 526.40 Nov/16
Cape Verde -5397.60 Oct/16
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 1226.87 Dec/16
China 408.18 Dec/16
Colombia -0.93 Oct/16
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -569.90 Nov/16
Croatia -3668.67 Nov/16
Cuba -9578.00 Dec/15
Cyprus -338508.00 Nov/16
Czech Republic 37502.29 Nov/16
Denmark 5123.30 Nov/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -39175.91 Jun/16
Ecuador -112866.00 Nov/16
Egypt -2392.00 Nov/16
El Salvador -435.57 Nov/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -112.57 Nov/16
Ethiopia -3254.50 Jun/16
Euro Area 25941.20 Nov/16
European Union 6900.10 Nov/16
Fiji -204403.00 Sep/16
Finland -150.00 Nov/16
France -4377.00 Nov/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -766.50 Dec/16
Germany 22618.00 Nov/16
Ghana -452.40 Sep/16
Greece -1554.80 Nov/16
Guatemala -691.30 Nov/16
Guinea 32.97 Sep/16
Guinea Bissau 8.20 Dec/15
Guyana -133.90 Sep/16
Haiti -236.40 Sep/16
Honduras -556.90 Sep/16
Hong Kong -34053.00 Nov/16
Hungary 280000.00 Nov/16
Iceland -4400.00 Dec/16
India -10369.40 Dec/16
Indonesia 992.10 Dec/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 4044600.00 Nov/16
Israel -1442.80 Dec/16
Italy 4202.85 Nov/16
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan 153.00 Nov/16
Jordan -746551.00 Oct/16
Kazakhstan 1297.60 Nov/16
Kenya -73063.30 Oct/16
Kosovo -202700.00 Nov/16
Kuwait 1422.20 Sep/16
Kyrgyzstan -208.00 Nov/16
Laos -339.15 Jun/16
Latvia -122.10 Nov/16
Lebanon -1222.52 Oct/16
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 327117.00 Sep/16
Lithuania -26.10 Nov/16
Luxembourg -0.80 Oct/16
Macau -6026970.00 Nov/16
Macedonia -186849.00 Nov/16
Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9030.00 Nov/16
Maldives -157.50 Sep/16
Mali -226.10 Sep/15
Malta -102800.00 Nov/16
Mauritania -79.64 Mar/16
Mauritius -8218.00 Oct/16
Mexico 200.00 Nov/16
Moldova -135.80 Nov/16
Monaco -104.50 Jun/16
Mongolia 362.30 Dec/16
Montenegro -132470.00 Nov/16
Morocco -13866.00 Nov/16
Mozambique -434.30 Sep/16
Myanmar -181.40 Apr/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 5544.00 Nov/16
New Caledonia -7307.00 Oct/16
New Zealand -704.62 Nov/16
Nicaragua -212.90 Sep/16
Niger -108402.00 Sep/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 23279.00 Dec/16
Oman 119.20 Jul/16
Pakistan -289139.00 Dec/16
Palestine -320.60 Oct/16
Panama -961388.00 Nov/16
Papua New Guinea 3223.00 Jun/16
Paraguay -453352.00 Dec/16
Peru 279.00 Nov/16
Philippines -2566000.00 Nov/16
Poland 102.00 Nov/16
Portugal -790.68 Nov/16
Puerto Rico 2801.60 Oct/16
Qatar 9630.00 Nov/16
Republic of the Congo 4092.35 Dec/10
Romania -865.50 Nov/16
Russia 9137.00 Nov/16
Rwanda -116.57 Nov/16
Sao Tome and Principe -29.78 Sep/16
Saudi Arabia 73133.00 Sep/16
Senegal -201.40 Nov/16
Serbia -320.40 Nov/16
Seychelles -44.02 Nov/16
Sierra Leone -52.89 Jun/16
Singapore 6120.70 Dec/16
Slovakia 287.00 Nov/16
Slovenia -15.23 Nov/16
Somalia -1473.48 Dec/15
South Africa -1091.85 Nov/16
South Korea 7000.00 Dec/16
South Sudan -104.70 Dec/15
Spain -1246304.00 Nov/16
Sri Lanka -922.00 Nov/16
Sudan -338394.00 Sep/16
Suriname 42.20 Sep/16
Swaziland 1037.15 Mar/16
Sweden -1100.00 Nov/16
Switzerland 3636.00 Nov/16
Syria 9394.50 Dec/10
Taiwan 4864.00 Dec/16
Tajikistan -188.00 Nov/16
Tanzania -88.90 Oct/16
Thailand 1540.00 Nov/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -992.50 Dec/16
Turkey -4113.35 Nov/16
Turkmenistan 2181.97 Dec/15
Uganda -131.90 Nov/16
Ukraine -235.50 Nov/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -4167.00 Nov/16
United States -45240.00 Nov/16
Uruguay -140377.00 Nov/17
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -494.00 Dec/16
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16