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

Philippines reported a trade deficit of USD1.10 billion in February of 2016, larger than a 0.84 billion gap a year earlier as exports fell while imports rose. Year-on-year, sales dropped by 4.5 percent to USD4.31 billion, following a 3.9 percent fall in January. It is the 11th consecutive month of decline and the fastest pace since November 2015. Imports rose 1.2 percent to USD5.41 billion, compared to a 30.8 percent growth in a month earlier. Balance of Trade in Philippines averaged -248267.10 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
-1104000.00 -2638000.00 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 May of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-02-24 01:00 AM Dec $603M $ -976.9M $ -1380M $ -1025.8M
2016-03-23 01:00 AM Jan $-2638M $603M $-220M $ -113M
2016-04-26 01:00 AM Feb $-1104M $-2638M $ -885M
2016-05-25 01:00 AM Mar $-1104M $-967M
2016-06-24 01:00 AM Apr $ -1507.6M
2016-07-26 01:00 AM May $ -892.6M

Philippines Trade Deficit Widens in February


Philippines reported a trade deficit of USD1.10 billion in February of 2016, larger than a 0.84 billion gap a year earlier as exports fell while imports rose.

Year-on-year, sales dropped by 4.5 percent to USD4.31 billion, following a 3.9 percent fall in January. It is the 11th consecutive month of decline and the fastest pace since November 2015. outbond shipments fell the most for articles of apparel and clothing accessories (-44.9 percent), followed by chemicals (-38.5 percent), other manufactures (-15.5 percent), metal components (-13.3 percent) and coconut oil (-5.1 percent). In contrast, sales rose for: copper and concentrates (+35.4 percent), woodcrafts and furniture (+29.6 percent), ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (+13.3 percent), and machinery and transport equipment (+10.9 percent). Exports of electronic products, the country's top export revenues, also increased by 8.1 percent.

Sales were down to China (-11.6 percent to USD392.92 million, representing a 9.1 percent share of total exports), Hong Kong (-0.3 percent to USD421.06 million) and the ASEAN countries (-7.8 percent to USD667.25 million, 15.5 percent share). Exports to Japan, the country's top export destination, also declined by 0.3 percent to USD939.61 million. In contrast, outbond shipments rose to the US (+1.6 percent to USD743.04 million, 17.2 percent share), Singapore (+8.0 percent to USD289.01 million, 6.7 percent share) and the EU countries (+5.2 percent to USD550.28 million, 12.8 percent share).

Imports rose 1.2 percent to USD5.41 billion, after surging 30.8 percent in January Purchases increased for most of categories except mineral fuels, lubricants, electronic products and iron and steel. Inbound shipments of telecommunication equipment and electrical machinery rose the most by 77.5 percent, followed by industrial machinery and equipment (+49.7 percent), medicinal and pharmaceutical products (+41.4 percent), transport  equipment (+25.2 percent), miscellaneous manufactured articles (+22.3 percent), other food and live animals (+20.1 percent) and plastics in primary and non-primary forms (+5.5 percent).

Purchases from China, the biggest source of purchases for Philippines, rose  3.5 percent year-on-year to USD905.48 billion. Those from Japan also increased by 65.5 percent to USD684.69 million, followed by Thailand (+39.8 percent to USD483.50 million), South Korea (+17.5 percent to USD377.67 million) and the ASEAN countries (+10.4 percent to USD1.43 billion). In contrast, inbound shipments dropped to the US (-15.7 percent to USD513.35 million) and the EU countries (-29.4 percent to USD433.76 million). 

In January 2016, trade deficit was registered at  USD2.64 billion.
 



PSA l Rida Husna | rida@tradingeconomics.com
4/26/2016 3:36:28 AM

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -1104000.00 -2638000.00 1144700.00 -2638000.00 USD Thousand [+]
Exports 4310370.00 4187270.30 5931591.34 23000.00 USD Thousand [+]
Imports 5414180.18 6825210.00 6845663.19 37084.30 USD Thousand [+]
Current Account 3157.13 540.04 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 7.89 7.36 93.66 -35.31 USD Million [+]
Remittances 2110264.80 2022446.40 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 549725.00 542258.00 553002.00 63628.00 [+]
Gold Reserves 195.80 195.60 274.42 126.89 Tonnes [+]
Terrorism Index 7.27 7.20 7.27 5.78 [+]
Foreign Direct Investment 138618.00 48571.00 230215.00 3959.00 PHP Million [+]
Crude Oil Production 20.00 38.00 40.00 0.79 BBL/D/1K [+]




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Belgium 1025.00 Feb/16
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Brazil 4860.00 Apr/16
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Croatia 3996.23 Feb/16
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Czech Republic 42159.00 Feb/16
Denmark 2158.20 Feb/16
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Dominican Republic -688.50 Dec/15
East Timor -33147.37 Feb/16
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Germany 20300.00 Feb/16
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Indonesia 490.00 Mar/16
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Iraq 38780.80 Dec/14
Ireland 3771700.00 Feb/16
Israel -1177.40 Mar/16
Italy 3856.00 Feb/16
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Jamaica -779000.00 Sep/15
Japan 754.99 Mar/16
Jordan -773525.00 Jan/16
Kazakhstan 1187.60 Feb/16
Kenya -58459.44 Jan/16
Kosovo -209942.00 Mar/16
Kuwait 1049.00 Dec/15
Kyrgyzstan -167.59 Dec/15
Laos -488.34 Sep/15
Latvia -139.50 Feb/16
Lebanon -1148.62 Feb/16
Lesotho -2961.47 Dec/15
Liberia -123.50 Oct/15
Libya -17675.60 Dec/14
Liechtenstein 355938.00 Dec/15
Lithuania -96.60 Feb/16
Luxembourg -0.42 Feb/16
Macau -4479038.32 Mar/16
Macedonia -193229.00 Mar/16
Madagascar -30435.00 Dec/15
Malawi -31524.80 Sep/15
Malaysia 7351.55 Feb/16
Maldives -127.20 Jan/16
Mali -100.60 Mar/15
Malta -557987.00 Feb/16
Mauritania -24.89 Dec/15
Mauritius -4607.00 Feb/16
Mexico 155.00 Mar/16
Moldova -148.50 Feb/16
Monaco -22.60 Dec/15
Mongolia 98.70 Mar/16
Montenegro -138515.00 Mar/16
Morocco -16349.00 Mar/16
Mozambique -1274.70 Sep/15
Myanmar -72.20 Sep/15
Namibia -8322.38 Mar/16
Nepal -58541.90 Dec/15
Netherlands 3952.00 Feb/16
New Caledonia -9528.00 Feb/16
New Zealand 117.00 Mar/16
Nicaragua -225.70 Feb/16
Niger -441985.00 Sep/15
Nigeria 26385.50 Dec/15
North Korea -476.67 Dec/15
Norway 9068.13 Mar/16
Oman 329.00 Sep/15
Pakistan -193845.00 Mar/16
Palestine -309.20 Jan/16
Panama -744011.50 Feb/16
Papua New Guinea 4191.00 Sep/15
Paraguay 140697.00 Mar/16
Peru -188.00 Feb/16
Philippines -1104000.00 Feb/16
Poland 341.00 Feb/16
Portugal -713.00 Feb/16
Puerto Rico 2054.10 Dec/15
Qatar 7409.00 Feb/16
Republic of the Congo 4092.35 Dec/10
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Russia 7353.00 Feb/16
Rwanda -150.29 Dec/15
Sao Tome and Principe -36.44 Dec/15
Saudi Arabia 44465.00 Sep/15
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Serbia -406.80 Mar/16
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Singapore 3656.20 Mar/16
Slovakia 459.60 Feb/16
Slovenia 120.06 Feb/16
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South Africa 2915.79 Mar/16
South Korea 8800.00 Apr/16
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Spain -1761000.00 Feb/16
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Sweden 3900.00 Mar/16
Switzerland 2163.00 Mar/16
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Taiwan 4502.06 Mar/16
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Tanzania -30.40 Jan/16
Thailand 2966.00 Mar/16
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Trinidad and Tobago 339.40 Sep/15
Tunisia -1100.60 Mar/16
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Turkmenistan 2431.94 Dec/14
Uganda -120.80 Feb/16
Ukraine -436.00 Feb/16
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