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

Philippines recorded a trade surplus of 508859.25 USD Thousand in May of 2015. Balance of Trade in Philippines averaged -233844.72 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.

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Philippines Balance of Trade
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Actual Previous Highest Lowest Dates Unit Frequency
508859.25 -300923.44 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 Tuesday, July 28, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-05-26 02:00 AM Mar $264.1M $ -837M (R) $ -409M $-471.4M
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
2015-08-26 02:00 AM Jun $508.9M $ -313.4M
2015-09-25 02:00 AM Jul $ -423.5M
2015-10-24 02:00 AM Aug $ -415.8M


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.

In May, exports declined by 17.4 percent year-on-year to USD 4.90 billion. Sales of other mineral products fell the most by 66.5 percent, followed by machinery and transport equipmen (-34.3 percent); woodcrafts and furniture (-33.8 percent); other manufactures (-24.9 percent); articles of apparel and clothing accessories (-7.4 percent) and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-4.0 percent). Outbond shipments of electronic products, the country's top export earners in May 2015, also declined by 7.5 percent. Among the major groups of electronic products, components/devices (semiconductors) fell by 6.9 percent from a year earlier. In contrast, exports increased for: electronic equipment and parts (+185.5 percent), metal components (+13.3 percent) and chemicals (+6.2 percent). 

Outbond shipments to the country’s main trading partners mostly declined. Those to the US, representing a 14.2 percent of total exports, dropped by 4.7 percent to USD696.00 million, followed by China (-62.1 percent to USD529.15 million, 10.8 percent share), Singapore (-15.5 percent to USD300.92 million, 6.1 percent share), the ASEAN countries (-21.3 percent to USD718.01 million, 14.7 percent share) and the EU countries (-4.2 percent to USD575.99 million). In contrast, sales to Japan, the country's top destination of exports, rose 7.6 percent to USD1.20 billion. Exports also increased to Hong Kong (+24.6 percent to USD527.37 million, 10.8 percent share).

Imports fell by 13.4 percent to USD 4.39 billion, the largest drop since October 2009. Purchases declined the most for: transport equipment (-32.0 percent), followed by mineral fuels, lubricants and related material (-24.8 percent), iron and steel (-19.1 percent); plastics in primary and non-primary forms (-19.0 percent), miscellaneous manufactured articles (-12.8 percent); electronic products (-12.2 percent); other food and live animals (-3.2 percent) and telecommunication equipment and electrical machinery (-2.2 percent). In contrast, inbound shipments increased for: power generating and specialized machinery (+52.7 percent) and industrial machinery and equipment (+20.0 percent).

Purchases from China, the biggest source of imports, declined by 1.0 percent to USD 719.92 million. Imports from the country's other trading partners also fell: the US (-21.8 percent to USD 426.01 million, 9.7 percent share), Japan (-12.1 percent to  USD367.71 million), South Korea (-7.4 percent to USD307.27 million), Singapore (-10.4 percent to USD303.78 million), the ASEAN countries (-23.0 percent to USD1.04 billion) and the EU countries (-19.9 percent to USD430.03 million).

In April 2015, the country registered a revised USD 337 million trade deficit.

National Statistics Office l Rida Husna l rida@tradingeconomics.com
7/24/2015 3:51:12 AM


Recent Releases

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 Deficit Largest Since April 2014
Philippines reported a trade deficit of USD 751.5 million in January of 2015, down from a USD 1.57 billion gap a year earlier as imports fell more than exports.
Published on 2015-03-25


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade 508859.25 -300923.44 1144700.00 -1657980.45 USD Thousand [+]
Exports 4899372.25 4376347.46 5931591.34 23000.00 USD Thousand [+]
Imports 4390513.00 4713000.00 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 2099075.80 2015121.80 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 -2751.00 May/15 -4136.00 2254.00 -4136.00 AUD Million [+]
Brazil 4527.00 Jun/15 2761.00 5659.37 -4058.14 USD Million [+]
Canada -3339.60 May/15 -2992.00 8524.80 -3853.00 CAD Million [+]
China 465.36 Jun/15 588.67 606.19 -319.71 USD Hundred Million [+]
Euro Area 18800.00 May/15 24941.50 24941.50 -16748.10 EUR Million [+]
France -4020.00 May/15 -3310.00 2674.00 -7086.00 EUR Million [+]
Germany 19600.00 May/15 21900.00 23468.80 -535.91 EUR Million [+]
India -10830.00 Jun/15 -10406.20 258.90 -20210.90 USD Million [+]
Indonesia 477.00 Jun/15 1076.60 4641.92 -2329.13 USD Million [+]
Italy 4184.00 May/15 3728.00 6923.00 -6389.30 EUR Million [+]
Japan -69.00 Jun/15 -216.00 1608.67 -2795.04 JPY Billion [+]
Mexico -749.00 Jun/15 -1017.00 1710.25 -3292.30 USD Million [+]
Netherlands 3191.00 May/15 5434.70 6329.20 -907.60 EUR Million [+]
Russia 15309.00 May/15 15037.00 20356.00 -185.00 USD Million [+]
South Korea 10243.00 Jun/15 6300.98 10243.00 -4043.45 USD Million [+]
Spain -1657308.00 May/15 -2253100.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3578.49 Jun/15 3408.61 3894.91 -1478.68 CHF million [+]
Turkey -6753.00 May/15 -4966.00 24.51 -10453.06 USD Million [+]
United Kingdom -393.00 May/15 -1834.00 2946.00 -5397.00 GBP Million [+]
United States -41871.00 May/15 -40698.00 1946.00 -67823.00 USD Million [+]