Philippines Exports

Exports in Philippines increased to 4654149.56 USD Thousand in February of 2014 from 4379037.59 USD Thousand in January of 2014. Exports in Philippines is reported by the National Statistics Office of Philippines. Exports in Philippines averaged 1303065.85 USD Thousand from 1957 until 2014, reaching an all time high of 5340847 USD Thousand in September of 2010 and a record low of 23000 USD Thousand in October of 1957. Philippines is the world’s largest producer of coconut, pineapple and abaca (more than 7 percent of total exports revenues). The country is also a major exporter of electronic products like processors, chips and hard drives (over 40 percent of exports). Other exports include: woodcrafts and furniture (5 percent), metal components (3 percent), wiring sets (3 percent), apparel and clothing, bananas, petroleum products and tuna. Main export partners are: Japan (28 percent of total exports), United States (15 percent), China (12 percent), Hong Kong (9 percent), Singapore (8 percent), Thailand (5 percent) and Germany (4 percent). This page provides - Philippines Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4654149.56 4379037.59 5340847.00 23000.00 4704718.17 | 2014/03 1957 - 2014 USD Thousand Monthly


Philippines Exports

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-07-25 02:00 AM Philippines
May 2013 USD 4.89B USD 4.12B USD 4.06B

Trade Last Previous Highest Lowest Forecast Unit
External Debt 60337.00 2012-12-31 61711.00 61711.00 20893.00 59784.74 2013-12-31 USD Million [+]
Remittances 1795680.40 2014-02-15 1799288.30 2154956.20 64208.00 1861678.71 2014-03-31 USD Thousand [+]
Balance of Trade -1378315.00 2014-01-15 -694897.00 1144700.00 -1657980.00 -633272.37 2014-02-28 USD Thousand [+]
Current Account 592.00 2013-12-15 998.00 2107.00 -884.00 707.16 2014-01-31 USD Million [+]
Exports 4654149.56 2014-02-15 4379037.59 5340847.00 23000.00 4704718.17 2014-03-31 USD Thousand [+]
Imports 5757352.55 2014-01-15 5412933.75 5882358.00 37084.30 5628637.29 2014-02-28 USD Thousand [+]
Tourist Arrivals 452650.00 2013-12-15 361271.00 452650.00 63628.00 400629.01 2014-01-31 [+]
Current Account to GDP 3.50 2013-12-31 2.80 5.80 -7.70 3.51 2014-12-31 Percent [+]

Exports | Notes
Exports measure the amount of goods or services that domestic producers provide to foreign consumers by. It is a good that is sent to another country for sale. In the past, export of commercial quantities of goods normally required involvement of the customs authorities in both the country of export and the country of import. More recently, with the advent of small trades over the internet such as through Amazon and e-Bay, exports have largely bypassed the involvement of Customs in many countries due to the low individual values of these trades. Nonetheless, these small exports are still subject to legal restrictions applied by the country of export.


Philippines Inflation Rate Edges Down in March  
Philippines annual consumer prices decelerated for the second straight month to 3.9 percent, the lowest rate in four months, due to a slowdown in prices of alcoholic beverages, tobacco, housing, water, electricity, gas, recreation and restaurants.
Philippines Leaves Rates on Hold, Raises Bank Reserve Requirements  
At its March 27th, 2014 meeting, Philippines' Central Bank decided to leave the key policy rate steady at 3.50 percent, but raised banks' reserve requirements by 1 percentage point effective on April 4th, 2014 to curb excess liquidity.
Philippines’ Trade Deficit Doubles in January  
The trade deficit widened in January of 2014 to USD -1.38 billion from USD -0.72 billion a year earlier and USD -0.70 billion in December of 2013. While exports climbed for the eighth consecutive month, imports posted the highest increase in nearly 3 years.
Philippines Unemployment Rate Up to 7.5%  
In January of 2014, Philippines jobless rate rose to 7.5 percent, up from 6.5 percent in the previous period and 7.1 percent a year ago. Typhoon-hit region VIII was not covered in the survey.
Philippines Inflation Rate Slows in February  
Philippines annual inflation fell to 4.1 percent in February from 4.2 percent in January, as alcoholic beverages, tobacco and transport prices rose at a slower pace. On a monthly basis, the inflation rate eased from 0.7 percent in January to 0.1 percent in February, as the country starts to recover from supply shocks caused by November’s Typhoon Haiyan.
Philippines Trade Deficit Narrows in 2013  
In 2013, Philippines trade deficit decreased 23 percent to USD 7.73 billion, from USD 10.03 billion in the previous year, due to a 3.6 percent rise in sales. Considering the last month of 2013, the trade deficit narrowed to USD 695 million.
Philippines Monetary Policy Unchanged in February  
At its February 2nd meeting, Philippines' Central Bank decided to keep its key policy rate unchanged at 3.50 percent as recent inflationary pressures are mainly due to adverse weather conditions.
Philippines Inflation Rate Accelerates in January  
In January of 2014, Philippines annual inflation rate rose to 4.2 percent, up from 4.1 percent recorded in December and closer to the upper end of the central bank's 3.4 to 4.3 percent estimate for the month.
Philippines GDP Expands 1.5% QoQ in Q4 2013  
In the fourth quarter of 2013, Philippines GDP advanced 1.5 percent over the previous quarter, slightly up from a revised 1.3 percent in the previous three-month period and boosted by the industrial production.
Philippines Q4 2013 GDP Growth Hurt by Typhoon Haiyan  
In the fourth quarter of 2013, Philippines GDP slowed to an annual growth rate of 6.5 percent, down from a revised 6.9 percent in the previous three months and 7.1 percent a year earlier. Although Typhoon Haiyan hit the economy, robust household consumption made the GDP figures better than initial government estimates. Full 2013 GDP expanded 7.2 percent.


Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Hong Kong Unemployment Rate Unchanged in March  
Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
Hong Kong Inflation Rate Unchanged in March  
Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
China Cuts Reserve Ratio for Rural Banks  
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.
Japanese Trade Deficit Widens in March  
Japan’s trade gap increased to a wider-than-expected ¥ 1446.3 billion in March of 2014, up from a revised ¥ 802.5 billion deficit in the previous month and a ¥ 356.9 billion gap a year earlier, as energy imports continued to rise.
Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.

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