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

Philippines reported a trade deficit of USD 2.10 billion in June of 2016, compared to a USD 0.57 billion gap a year earlier and in line with expectations, as exports fell while imports rose. Year-on-year, sales declined by 11.4 percent to USD 4.71 billion, following a 3.8 percent fall in May. It was the 15th straight month of decline and the largest drop since March, as sales were lower for most categories. Imports increased by 15.4 percent to USD 6.86 billion, following a 39.3 percent growth in the preceding month. Purchases were also higher for most categories. In May 2016, trade deficit was at USD 2.02 billion. From January to June 2016, the country posted a USD 11.9 billion trade deficit. Balance of Trade in Philippines averaged -260040.22 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. 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
-2098494.00 -2021437.18 1144700.00 -2637938.69 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 August of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-06-24 01:00 AM Apr $-2275M $-1747M $ -1752M
2016-07-26 01:00 AM May $-2021M $-2306M $-1210M
2016-08-25 01:00 AM Jun $-2098M $-2021M $-2100M $-1700M
2016-09-27 01:00 AM Jul $-2098M $-3000M
2016-10-25 12:00 AM Aug $-2640M
2016-11-25 01:00 AM Sep $-2750M

Philippines Trade Deficit Widens in June


Philippines reported a trade deficit of USD 2.10 billion in June of 2016, compared to a USD 0.57 billion gap a year earlier and in line with expectations, as exports fell while imports rose.

Year-on-year, sales declined by 11.4 percent to USD 4.71 billion, following a 3.8 percent fall in May. It was the 15th straight month of decline and the largest drop since March, driven by other mineral products (-41.1 percent), machinery and transport equipment (-31.6 percent), other manufactures (-26.1 percent), chemicals (-25.7 percent), woodcrafts and furniture (-19.2 percent); ignition wiring set and other wiring Sets used in vehicles, aircrafts and ships (-10.2 percent), metal components (-2.2 percent) and coconut oil (-2.0 percent). Exports of electronic products, the country's top export revenues, also decreased by 5.1 percent. In contrast, outbound shipments rose only for miscellaneous manufactured articles (+137.7 percent). 

Sales fell to Japan (-23.2 percent), the US (-0.7 percent), China (-14.0 percent), Singapore (-1.1 percent), the ASEAN countries (-7.8 percent) and the EU countries (-11.4 percent). In contrast, shipments rose to Hong Kong (+3.2 percent). In contrast, outbound shipments to Hong Kong grew by 3.2 percent to USD 589.36 million. 

Imports increased by 15.4 percent to USD 6.86 billion, following a 39.3 percent growth in the preceding month while market expected a 14.7 percent rise. Purchases were higher for most categories: telecommunication equipment and electrical machinery (+91.5 percent), plastics in primary and non-primary forms (+71.6 percent), iron and steel (+67.0 percent), industrial machinery and equipment (+57.8 percent), power generating and specialised machinery (+57.8 percent), miscellaneous manufactured articles (+55.5 percent), transport equipment (+50.7 percent) and other food and live animals (+15.9 percent). In contrast, imports fell for: electronic products (-15.8 percent) and mineral fuels, lubricants and related materials (-5.1 percent).

Purchases from China, the biggest source of purchases for Philippines, rose  45.8 percent year-on-year to USD 1.29 billion. Those from Japan also increased by 26.1 percent to USD 852.2million, followed by Thailand (+23.7 percent to USD 531.89 million), the US (+25.5 percent to USD 530.5 million) and the ASEAN countries (+17.9 percent to USD 1.79 billion). In contrast, imports fell from Taiwan (-16.3 percent to USD 490.31 million) and the EU countries (-14.2 percent to USD 534.86 million). 

In May 2016, trade deficit was at USD 2.02 billion.

From January to June 2016, the country posted a USD 11.9 billion trade deficit with exports declining by 7.5 percent compared to the same period a year earlier while imports increasing by 17.7 percent.

PSA l Rida Husna | rida@tradingeconomics.com
8/25/2016 1:10:40 PM

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2098494.00 -2021437.18 1144700.00 -2637938.69 USD Thousand [+]
Exports 4754420.00 4714690.00 5931591.34 23000.00 USD Thousand [+]
Imports 6852910.00 6736128.33 6852910.00 37084.30 USD Thousand [+]
Current Account -145.00 1660.00 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 7.32 8.55 93.66 -35.31 USD Million [+]
Remittances 2330000.00 2188361.50 2470164.00 64208.00 USD Thousand [+]
Tourist Arrivals 445449.00 471598.00 553002.00 63628.00 [+]
Gold Reserves 195.91 195.80 274.42 126.89 Tonnes [+]
Terrorism Index 7.27 7.20 7.27 5.78 [+]
Foreign Direct Investment 26005.13 138618.00 230215.00 3959.00 PHP Million [+]
Crude Oil Production 20.00 38.00 40.00 0.79 BBL/D/1K [+]




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