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

Philippines reported a trade deficit of USD 2.16 billion in October of 2016, compared to a USD 1.94 billion gap a year earlier. It was the largest trade gap since April, as exports grew less than imports. In October, exports rose 3.7 percent year-on-year to USD 4.76 billion, following a 5.1 percent growth in September. Imports went up 5.9 percent to USD 6.92 billion, compared to a 13.5 percent rise in the preceding month. From January to October 2016, exports shrank 5.3 percent from the same period a year earlier to USD 46.45 billion while imports went up 13.1 percent to USD 66.43 billion. That brought the trade deficit during that period to USD 19.98 billion, widening sharply from a USD 9.68 billion gap in the prior year. Balance of Trade in Philippines averaged -269853.07 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)
2016-10-11 01:00 AM Aug $-2023M $-2053M $-2640M
2016-11-10 01:00 AM Sep $-1890M $-1952M $-2750M
2016-12-09 01:00 AM Oct $-2163M $-1890M $-3650M
2017-01-26 01:00 AM Nov $-2163M $ -1933.5M
2017-02-24 01:00 AM Dec $ -1922M
2017-03-23 01:00 AM Jan $ -1941.1M




Philippines Trade Deficit Largest in 6 Months in October


Philippines reported a trade deficit of USD 2.16 billion in October of 2016, compared to a USD 1.94 billion gap a year earlier. It was the largest trade gap since April, as exports grew less than imports.

In October, sales rise a 3.7 percent year on-year  to USD 4.76 billion following a 5.1 percent rise in September. It was the second straight month of growth, driven by coconut oil (+60.4 percent), metal components (+55.6 percent) and other mineral products (+23.9 percent). Sales of electronic products, the country's top export revenues, also went up 4.7 percent. In contrast, exports fell for: woodcrafts and furniture (-14.7 percent), machinery and transport equipment (-9.2 percent) and other manufactures (-7.8 percent). Outbound shipments to the US rose 8.9 percent. Those to China also increased by 34.1 percent, followed by Hong Kong (+9.1 percent to USD 541.57 million) and the ASEAN countries (+0.6 percent). In contrast, exports fell to the EU countries (-12.6 percent) and Singapore (-6.0 percent). Outbound shipments to Japan, the country's top export destination also dropped by 5.0 percent.

Imports  rose 5.9 percent year-on-year to USD 6.92 billion in October of 2016, compared to a 13.5 percent rise in the preceding month. Purchases rose for most categories, including: transport equipment (+55.0 percent), iron and steel (+33.6 percent) and miscellaneous manufactured articles (+26.8 percent). In contrast, imports of electronic products fell 17.2 percent, followed by telecommunication equipment and electrical machinery (-2.8 percent) and cereals and cereal preparations (-2.3 percent). Purchases increased from: China (+9.7 percent), Japan (+19.0 percent), Thailand (+4.3 percent), the ASEAN countries (+5.9 percent) and the EU countries (+12.0 percent). In contrast, imports declined from the US (-1.5 percent).

In September 2016, balance trade recorded deficit of 1.89 billion USD.

Statistics of Philippines l Chusnul Ch Manan| chusnul@tradingeconomics.com
12/9/2016 3:28:16 AM



Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2163034.12 -1889974.98 1144700.00 -2637938.69 USD Thousand [+]
Exports 4757921.31 5210676.85 5931591.34 23000.00 USD Thousand [+]
Imports 6920955.43 7100651.82 7100651.82 37084.30 USD Thousand [+]
Current Account 389.25 -47.39 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 14.00 12.79 93.66 -35.31 USD Million [+]
Remittances 2383072.60 2318977.20 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 502739.00 560872.00 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 40390.70 26242.80 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 December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
-2163034.12 -1889974.98 1144700.00 -2637938.69 1957 - 2016 USD Thousand Monthly



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Afghanistan -7159.00 Dec/15
Albania -28104.70 Oct/16
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Angola 3002.24 Dec/15
Argentina -114.00 Oct/16
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Aruba -423.80 Jun/16
Australia -1541.00 Oct/16
Austria -109.00 Sep/16
Azerbaijan 1311894.00 Jun/16
Bahamas -428.30 Jun/16
Bahrain 1513.00 Dec/15
Bangladesh -51.80 Aug/16
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Belarus -392.10 Oct/16
Belgium 2898.90 Sep/16
Belize -138.84 Sep/16
Benin -278.15 Sep/16
Bhutan -26021.60 Dec/15
Bolivia -103.32 Jul/16
Bosnia and Herzegovina -534734.90 Sep/16
Botswana 3238.80 Sep/16
Brazil 4757.00 Nov/16
Brunei 283.10 Sep/16
Bulgaria 89.40 Sep/16
Burkina Faso -86.40 Mar/16
Burundi -118434.20 Aug/16
Cambodia -203.30 Jul/16
Cameroon -1054.40 Dec/13
Canada -1130.00 Oct/16
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Cayman Islands -746.00 Dec/15
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Chad 1166.10 Dec/11
Chile 43.13 Nov/16
China 446.10 Nov/16
Colombia -1.24 Sep/16
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -461.20 Oct/16
Croatia -3246.52 Oct/16
Cuba -9578.00 Dec/15
Cyprus -283281.00 Sep/16
Czech Republic 47421.10 Oct/16
Denmark 2304.70 Oct/16
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -39175.91 Jun/16
Ecuador 5050.00 Sep/16
Egypt -2577.00 Sep/16
El Salvador -386.50 Oct/16
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -150.80 Oct/16
Ethiopia -3254.50 Jun/16
Euro Area 26481.80 Sep/16
European Union 510.20 Sep/16
Fiji -172126.00 Jun/16
Finland -190.00 Oct/16
France -5202.00 Oct/16
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -472.40 Oct/16
Germany 19300.00 Oct/16
Ghana -712.40 Jun/16
Greece -1743.00 Oct/16
Guatemala -615.90 Sep/16
Guinea -308.73 Jun/16
Guinea Bissau -23.80 Dec/14
Guyana -13.70 Jun/16
Haiti -229.96 Jun/16
Honduras -479.70 Aug/16
Hong Kong -37223.00 Oct/16
Hungary 274000.00 Oct/16
Iceland -12300.00 Nov/16
India -10160.00 Oct/16
Indonesia 1206.80 Oct/16
Iran 4258.00 Dec/15
Iraq 4397.00 Dec/15
Ireland 3769800.00 Sep/16
Israel -1354.00 Oct/16
Italy 3669.89 Sep/16
Ivory Coast 1256.00 Dec/15
Jamaica -680800.00 Mar/16
Japan 496.17 Oct/16
Jordan -536755.50 Sep/16
Kazakhstan 1044.90 Sep/16
Kenya -78222.90 Sep/16
Kosovo -214200.00 Oct/16
Kuwait 1222.30 Jun/16
Kyrgyzstan -184.40 Sep/16
Laos -594.89 Dec/15
Latvia -87.10 Sep/16
Lebanon -1193.95 Sep/16
Lesotho -2324.11 Jun/16
Liberia -80.10 Jun/16
Libya -7687.60 Dec/15
Liechtenstein 327117.00 Sep/16
Lithuania -156.20 Oct/16
Luxembourg -0.43 Sep/16
Macau -5326200.00 Oct/16
Macedonia -177613.00 Oct/16
Madagascar -234693.00 Sep/16
Malawi -53950.00 Mar/16
Malaysia 9756.67 Oct/16
Maldives -155.00 Aug/16
Mali -226.10 Sep/15
Malta -273000.00 Oct/16
Mauritania -79.64 Mar/16
Mauritius -6179.00 Sep/16
Mexico -900.00 Oct/16
Moldova -179.40 Oct/16
Monaco -104.50 Jun/16
Mongolia 72.90 Oct/16
Montenegro -138195.00 Oct/16
Morocco -12712.00 Sep/16
Mozambique -434.30 Sep/16
Myanmar -198.70 Feb/16
Namibia -8369.58 Jun/16
Nepal -77662.70 Mar/16
Netherlands 5421.00 Sep/16
New Caledonia -12812.00 Aug/16
New Zealand -846.00 Oct/16
Nicaragua -196.00 Aug/16
Niger -132100.00 Jun/16
Nigeria -27238.30 Sep/16
North Korea -476.67 Dec/15
Norway 10360.56 Oct/16
Oman 30.50 Jun/16
Pakistan -237429.00 Oct/16
Palestine -339.90 Sep/16
Panama -893332.80 Sep/16
Papua New Guinea 4636.00 Mar/16
Paraguay -310239.00 Nov/17
Peru 274.70 Oct/16
Philippines -2163034.12 Oct/16
Poland -200.00 Sep/16
Portugal -870.35 Oct/16
Puerto Rico 747.70 Aug/16
Qatar 7703.00 Oct/16
Republic of the Congo 4092.35 Dec/10
Romania -786.80 Sep/16
Russia 7383.00 Sep/16
Rwanda -127.35 Jul/16
Sao Tome and Principe -29.78 Sep/16
Saudi Arabia 56231.00 Jun/16
Senegal -168.70 Sep/16
Serbia -380.50 Oct/16
Seychelles -40.23 Oct/16
Sierra Leone -52.89 Jun/16
Singapore 5156.80 Oct/16
Slovakia 456.00 Oct/16
Slovenia 95.90 Oct/16
Somalia -1473.48 Dec/15
South Africa -4410.97 Oct/16
South Korea 7992.05 Nov/16
South Sudan -104.70 Dec/15
Spain -2230800.00 Sep/16
Sri Lanka -645.00 Sep/16
Sudan -424613.00 Jun/16
Suriname 42.20 Sep/16
Swaziland 1037.15 Mar/16
Sweden -2700.00 Oct/16
Switzerland 2678.34 Oct/16
Syria 9394.50 Dec/10
Taiwan 4264.00 Nov/16
Tajikistan -198.20 Oct/16
Tanzania -101.00 Sep/16
Thailand 250.00 Oct/16
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia -1454.50 Oct/16
Turkey -4160.00 Oct/16
Turkmenistan 2181.97 Dec/15
Uganda -171.20 Oct/16
Ukraine -295.00 Sep/16
United Arab Emirates 328300.00 Dec/15
United Kingdom -1971.00 Oct/16
United States -42601.00 Oct/16
Uruguay -45370.00 Oct/16
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -400.00 Nov/16
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16