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

Philippines posted a USD 2.31 billion trade deficit in January of 2017, compared to a USD 2.64 billion gap a year earlier, as exports rose more than imports. Year-on-year, sales jumped 22.5 percent to USD 5.13 billion, following an upwardly revised 6.3 percent increase in December. Imports went up by 9.1 percent to USD 7.44 billion, compared to a downwardly revised 13.8 percent rise in the prior month. In December 2016, trade deficit came in at USD 2.16 billion. Balance of Trade in Philippines averaged -281839.85 USD Thousand from 1957 until 2017, 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)
2017-01-10 01:00 AM Nov $-2566M $-2163M
2017-02-10 01:00 AM Dec $-2564M $-2566M
2017-03-10 01:00 AM Jan $-2314M $-2158M $-3111M
2017-04-11 01:00 AM Feb $-2314M $-1924M
2017-05-11 01:00 AM Mar $-1511M
2017-06-09 01:00 AM Apr $-2549M




Philippines Trade Gap Narrows In January


Philippines posted a USD 2.31 billion trade deficit in January of 2017, compared to a USD 2.64 billion gap a year earlier, as exports rose more than imports.

Year-on-year sales increased by 22.5 percent to USD 5.13 billion in January of 2017, following an upwardly revised 6.3 percent rise in December 2016  and marking the fastest rise in three yearsOutbound shipments rose for: articles of apparel and clothing accessories (270.1 percent), coconut oil (229.6 percent), chemicals (104.7 percent), metal components (66.3 percent), electronic equipment and parts (64.8 percent), other manufactures (58.8 percent), machinery an transports equipment (27.9 percent), and electronic products (10.4 percent). Sales of electronic products, the country's top export revenues, also increased by 10.4 percent. In contrast, exports fell for: woodcrafts and furniture (-24.7 percent) and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-5.0 percent).
 
Exports to Hong Kong increased by 20.7 percent, followed by those China (23.6 percent, the US (21.2 percent), Singapore (16.8 percent), the ASEAN countries (19.3 percent) and the EU countries (82.5 percent). In contrast, sales to Japan, the country's top export destination decreased by 6.6 percent
 
Imports rose  9.1 percent year-on-year to USD 7.44 billion in January of 2017, compared to a downwardly revised.13.8 percent rise in December and reaching the slowest rise since October 2016. Purchases went up for: transport equipment iron and steel (79.7 percent), mineral fuels, lubricants and related materials (42.7 percent), cereals and cereal preparations (30.6 percent), miscellaneous manufactured articles (28.6 percent), telecommunication equipment and electrical machinery (24.0 percent), plastics in primary and non-primary forms (23.3 percent), other food and live animals (13.4 percent), and industrial machineray and equipment (11.1 percent). In contrast, imports shrank for electronic products (-16.2 percent) and transport equipment (-9.5 percent).

Purchases from China, the country’s biggest source of imports, went up 26.4 percent, followed by Japan (10.8 percent), South Korea (19.7 percent), the ASEAN countries (16.2 percent) and the EU countries (-27.2 percent). In contrast imports fell from the US (-6.9 percent).

In December 2016, trade deficit came in at USD 2.16 billion.
 
 
 
 
 

PSA l Chusnul Ch Manan | chusnul@tradingeconomics.com
3/10/2017 5:48:06 AM



Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2313784.93 -2564006.29 1144700.00 -2637938.69 USD Thousand [+]
Exports 5130394.54 4871019.62 5931591.34 23000.00 USD Thousand [+]
Imports 7444179.47 7435025.91 7444179.47 37084.30 USD Thousand [+]
Current Account -197.31 -743.28 1810.97 -1179.40 USD Million [+]
Current Account to GDP 2.90 3.80 5.80 -7.70 percent [+]
External Debt 76621.97 77474.07 79949.42 20893.00 USD Million [+]
Capital Flows 8.80 8.25 93.66 -35.31 USD Million [+]
Remittances 2168689.30 2559000.00 2559000.00 64208.00 USD Thousand [+]
Tourist Arrivals 576638.00 482350.00 576638.00 63628.00 [+]
Gold Reserves 196.34 196.18 274.42 126.89 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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2313784.93 -2564006.29 1144700.00 -2637938.69 1957 - 2017 USD Thousand Monthly



Last
Afghanistan -7159.00 Dec/15
Albania -23780.30 Feb/17
Algeria -1308.00 Dec/15
Angola 4470.03 Jun/16
Argentina -106.00 Jan/17
Armenia -115.20 Feb/17
Aruba -465.10 Sep/16
Australia 1302.00 Jan/17
Austria -639.00 Dec/16
Azerbaijan 981353.00 Sep/16
Bahamas -557.30 Dec/16
Bahrain 312.40 Dec/15
Bangladesh -90.80 Dec/16
Barbados -213020.00 Nov/16
Belarus -493.30 Dec/16
Belgium 208.30 Jan/17
Belize -106.50 Jan/17
Benin -379.80 Dec/16
Bhutan -35828.70 Dec/16
Bolivia -265.44 Dec/16
Bosnia and Herzegovina -564058.59 Jan/17
Botswana -24.00 Dec/16
Brazil 4560.00 Feb/17
Brunei 369.10 Jan/17
Bulgaria -271.70 Jan/17
Burkina Faso -86.40 Mar/16
Burundi -80745.50 Nov/16
Cambodia -994.90 Nov/16
Cameroon -1189.42 Dec/14
Canada 806.90 Jan/17
Cape Verde -6193.00 Jan/17
Cayman Islands -746.00 Dec/15
Central African Republic -29.80 Jun/14
Chad 1166.10 Dec/11
Chile 236.10 Feb/17
China -91.50 Feb/17
Colombia -0.92 Jan/17
Comoros -73203.00 Dec/16
Congo 1001.80 Dec/14
Costa Rica -368.50 Feb/17
Croatia -3332.68 Jan/17
Cuba -9578.00 Dec/15
Cyprus -317903.00 Jan/17
Czech Republic 48458.00 Jan/17
Denmark 4999.40 Jan/17
Djibouti -168260.00 Dec/15
Dominican Republic -589.40 Jun/16
East Timor -9404.27 Dec/16
Ecuador -4135.00 Jan/17
Egypt -2379.00 Dec/16
El Salvador -412.80 Jan/17
Equatorial Guinea 2723.70 Dec/10
Eritrea -833.00 Dec/15
Estonia -430.33 Jan/17
Ethiopia -3565.10 Sep/16
Euro Area -593.40 Jan/17
European Union -16240.40 Jan/17
Fiji -204403.00 Sep/16
Finland -455.00 Jan/17
France -7940.00 Jan/17
Gabon 3711.95 Dec/13
Gambia -2344.80 Jun/16
Georgia -411.80 Feb/17
Germany 14800.00 Jan/17
Ghana -452.40 Sep/16
Greece -2336.70 Jan/17
Guatemala -541.00 Jan/17
Guinea 32.97 Sep/16
Guinea Bissau 8.20 Dec/15
Guyana -133.90 Sep/16
Haiti -236.40 Sep/16
Honduras -452.80 Dec/16
Hong Kong -12345.00 Jan/17
Hungary 203000.00 Jan/17
Iceland -10900.00 Feb/17
India -8896.30 Feb/17
Indonesia 1318.90 Feb/17
Iran 4127.00 Sep/16
Iraq 4397.00 Dec/15
Ireland 5745100.00 Jan/17
Israel -702.90 Feb/17
Italy -573.67 Jan/17
Ivory Coast 1256.00 Dec/15
Jamaica -723200.00 Jun/16
Japan 813.40 Feb/17
Jordan -709700.00 Jan/17
Kazakhstan 1289.20 Jan/17
Kenya -76470.00 Dec/16
Kosovo -174189.00 Feb/17
Kuwait 1693.00 Dec/16
Kyrgyzstan -114.40 Dec/16
Laos -339.15 Jun/16
Latvia -175.40 Jan/17
Lebanon -1372.78 Jan/17
Lesotho -2305.61 Sep/16
Liberia -82.20 Sep/16
Libya -7687.60 Dec/15
Liechtenstein 343493.00 Dec/16
Lithuania -214.10 Jan/17
Luxembourg -0.37 Dec/16
Macau -5586600.00 Jan/17
Macedonia -119844.00 Jan/17
Madagascar 20810.00 Dec/16
Malawi -53950.00 Mar/16
Malaysia 4711.86 Jan/17
Maldives -171.90 Nov/16
Mali -226.10 Sep/15
Malta -366567.00 Jan/17
Mauritania -79.64 Mar/16
Mauritius -8644.00 Jan/17
Mexico -3294.00 Jan/17
Moldova -127.30 Jan/17
Monaco -165.20 Sep/16
Mongolia 183.00 Feb/17
Montenegro -70238.00 Jan/17
Morocco -16689.00 Dec/16
Mozambique -434.30 Sep/16
Myanmar -303.20 May/16
Namibia -6654.37 Sep/16
Nepal -80884.00 Jun/16
Netherlands 4582.00 Jan/17
New Caledonia -7307.00 Oct/16
New Zealand -18.29 Feb/17
Nicaragua -268.30 Dec/16
Niger -108402.00 Sep/16
Nigeria 227044.30 Dec/16
North Korea -476.67 Dec/15
Norway 23539.00 Feb/17
Oman 205.90 Nov/16
Pakistan -293929.00 Feb/17
Palestine -343.00 Jan/17
Panama -894143.61 Jan/17
Papua New Guinea 4593.00 Sep/16
Paraguay 100105.00 Feb/17
Peru 150.00 Jan/17
Philippines -2313784.93 Jan/17
Poland 225.00 Jan/17
Portugal -940.50 Jan/17
Puerto Rico 2830.80 Dec/16
Qatar 10981.00 Jan/17
Republic of the Congo 4092.35 Dec/10
Romania -602.20 Jan/17
Russia 11445.00 Jan/17
Rwanda -116.57 Nov/16
Sao Tome and Principe -27.04 Dec/16
Saudi Arabia 73133.00 Sep/16
Senegal -149.50 Jan/17
Serbia -319.10 Jan/17
Seychelles -39.60 Jan/17
Sierra Leone -52.89 Jun/16
Singapore 7752.90 Feb/17
Slovakia 152.00 Jan/17
Slovenia 45.30 Jan/17
Somalia -1473.48 Dec/15
South Africa -10811.59 Jan/17
South Korea 7220.00 Feb/17
South Sudan -104.70 Dec/15
Spain -3134000.00 Jan/17
Sri Lanka -910.00 Jan/17
Sudan -477522.00 Dec/16
Suriname 154.40 Dec/16
Swaziland -320.72 Jun/16
Sweden 1500.00 Jan/17
Switzerland 3105.00 Feb/17
Syria 9394.50 Dec/10
Taiwan 3360.00 Feb/17
Tajikistan -117.70 Jan/17
Tanzania -26.00 Nov/16
Thailand 1610.00 Feb/17
Togo -74.03 Jun/16
Trinidad and Tobago -364.10 Jun/16
Tunisia 1288.80 Feb/17
Turkey -4308.50 Jan/17
Turkmenistan 2181.97 Dec/15
Uganda -192.30 Jan/17
Ukraine -86.70 Jan/17
United Arab Emirates 328300.00 Dec/15
United Kingdom -1966.00 Jan/17
United States -48492.00 Jan/17
Uruguay -36256.00 Jan/17
Uzbekistan 455.00 Dec/15
Venezuela -782.00 Sep/15
Vietnam -2000.00 Feb/17
Yemen -2914.30 Dec/13
Zambia -998.80 Sep/16
Zimbabwe -241.27 Aug/16