Philippines Balance of Trade 1957-2014 | Data | Chart | Calendar

Philippines recorded a trade surplus of 731333 USD Thousand in June of 2014. Balance of Trade in Philippines averaged -237419.89 USD Thousand from 1957 until 2014, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1657980 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


Actual Previous Highest Lowest Dates Unit Frequency
731333.00 718139.00 1144700.00 -1657980.00 1957 - 2014 USD Thousand Monthly
Philippines posts regular trade deficits due to high imports of raw materials and intermediate goods. Main imports are: fuel (25 percent), electronic products (25 percent), transport equipment (7 percent) and industrial machinery (5 percent). Philippines is a leading exporter of coconut, pineapple, abaca and electronic products like processors, chips and hard drives (more than 40 percent of total exports). Main trading partners are: Japan (28 percent of total exports and 11 percent of imports), United States (15 percent of exports and 11 percent of imports) and China (12 percent of exports and 11 percent of imports). This page provides - Philippines Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Philippines Balance of Trade - was last refreshed on Monday, September 1, 2014.


Philippines Reports Trade Surplus in June


Philippines reported a trade surplus of USD 731.33 million in June of 2014 compared to a USD 399 million deficit a year earlier, as exports surged 21.3 percent and imports fell 3.6 percent. In May, the country posted a USD 718.14 million surplus, the first trade surplus since November of 2013.

In June, exports amounted to USD 5.44 billion as compared to a revised USD 4.49 billion in the same month last year. Electronic Products shipments increased by 10.7 percent and remained the top exports, accounting for 40.8 percent of the total exports revenue. By major groups of electronic products, Components/Devices (Semiconductors) rose by 14.5 percent, comprising 27.6 percent of the total exports. Higher sales were recorded for machinery and transport equipment (120.4 percent yoy); fresh bananas (98.9 percent); other mineral products (74.2 percent); other manufactures (67.8 percent); articles of apparel and clothing accessories (44.5 percent); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (32.5 percent). 

By country, sales to China and Hong Kong rose by 40 percent and 26.1 percent respectively and accounted for 24.8 percent of total exports revenues. Shipments to Japan decreased by 3 percent but the country remained the top destination of exports with 17.6 percent share. Sales to the United States grew by 18.7 percent (13.8 percent of total share) and Singapore declined by 2.8 percent (6.9 percent of total share). 

In June, imports amounted to USD 4.71 billion as compared to a revised USD 4.89 billion a year ago. Higher purchases were recorded for iron and steel (22.7 percent); plastic in primary and non-primary forms (21.8 percent); cereal and cereal preparations (21.2 percent); transport equipment (13.9 percent); telecommunication equipment and electrical machinery (11.8 percent)and mineral fuels, lubricant and related materials (9.4 percent). Imports of industrial machinery and equipment, which accounts for 4.5 percent of total imports, dropped the most by 32.9 percent, followed by electronic products by 22.0 percent.

During the first half of 2014, exports increased 8.3 percent over a year earlier to USD 29.80 billion and imports rose 5.4 percent to USD 31.34 billion. That brought the trade deficit from January to June of 2014 to USD 1.53 billion, compared to a USD 2.23 billion gap in the same period last year.

National Statistics Office l Rida l rida@tradingeconomics.com
8/26/2014 4:40:28 PM


Recent Releases

Philippines Trade Balance Back to Surplus in May
Philippines trade balance swung to a USD 718.14 million surplus in May of 2014 from a USD 743 million deficit in the previous month, the first black in the last seven months. Exports grew 6.9 percent year-on-year while imports fell 9.6 percent. Published on 2014-07-25

Philippines Trade Deficit Widens in April
Philippines trade gap increased to USD 743 million in April of 2014 from a USD 647 million deficit a year earlier. Exports grew a meager 0.8 percent year-on-year while imports rose at a faster 3 percent. Published on 2014-06-25


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-05-27 02:00 AM Philippines
Balance of Trade
Mar 2014 $ -146M $ -131M (R) $ -173M $ -250M
2014-06-25 02:00 AM Philippines
Balance of Trade
Apr 2014 $-743M $ -199M (R) $ -792.3M
2014-07-25 02:00 AM Philippines
Balance of Trade
May 2014 $718.14M $-743M $-150M $ -636.1M
2014-08-26 02:00 AM Philippines
Balance of Trade
Jun 2014 $ 731M $ 718.14M $ -169M $ -169.2M
2014-09-25 02:00 AM Philippines
Balance of Trade
Jul 2014 $ 731M $ 133.8M


Trade Last Previous Highest Lowest Unit
Balance of Trade 731333.00 718139.00 1144700.00 -1657980.00 USD Thousand [+]
Exports 5446848.45 5483433.75 5483433.75 23000.00 USD Thousand [+]
Imports 4715515.31 4765294.36 5954820.00 37084.30 USD Thousand [+]
Current Account 784.39 1439.50 2107.00 -884.00 USD Million [+]
Current Account to GDP 3.50 2.80 5.80 -7.70 Percent [+]
External Debt 58506.00 60337.00 61711.00 20893.00 USD Million [+]
Remittances 2049660.50 1980320.70 2154956.20 64208.00 USD Thousand [+]
Tourist Arrivals 364598.00 386665.00 461383.00 63628.00 [+]
Gold Reserves 193.95 193.51 274.42 126.89 Tonnes [+]
Crude Oil Production 21.00 21.00 40.00 0.79 BBL/D/1K [+]


Balance of Trade Reference Previous Highest Lowest Unit
Australia -1683.00 Jun/14 -2043.00 2225.00 -3907.00 AUD Million [+]
Brazil 1573.96 Jul/14 2364.45 5659.37 -4058.14 USD Million [+]
Canada 1859.60 Jun/14 576.00 8524.80 -2902.90 CAD Million [+]
China 473.01 Jul/14 315.65 473.00 -319.71 USD Hundred Million [+]
Euro Area 16808.50 Jun/14 15400.00 21780.80 -16638.00 EUR Million [+]
France -5380.00 Jun/14 -5129.00 2674.00 -7004.00 EUR Million [+]
Germany 16405.95 Jun/14 18172.20 21410.60 -535.91 EUR Million [+]
India -12228.60 Jul/14 -11763.20 258.90 -20210.90 USD Million [+]
Indonesia 130.00 Jul/14 -288.00 4641.92 -2329.13 USD Million [+]
Italy 3675.63 May/14 3517.00 6382.91 -6389.31 EUR Million [+]
Japan -963.99 Jul/14 -823.20 1608.67 -2795.04 JPY Billion [+]
Mexico -979.88 Jul/14 423.73 1710.25 -3292.30 USD Million [+]
Netherlands 4773.00 Jun/14 3337.10 4948.70 -907.60 EUR Million [+]
Russia 13957.00 Jun/14 18280.00 20356.00 -185.00 USD Million [+]
South Korea 3400.00 Aug/14 2398.95 6794.27 -4043.45 USD Million [+]
Spain -1477012.00 Jun/14 -1756166.00 634935.00 -9834766.00 EUR Thousand [+]
Switzerland 3983.49 Jul/14 1412.00 3983.49 -1478.68 CHF million [+]
Turkey -6460.00 Jul/14 -7853.06 24.51 -10453.06 USD Million [+]
United Kingdom -2459.00 Jun/14 -2364.00 2946.00 -5269.00 GBP Million [+]
United States -41538.00 Jun/14 -44392.00 1946.00 -67823.00 USD Million [+]





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