Philippine Imports Fall at a Faster Pace in May

Imports to the Philippines fell by 4.4% year-on-year to USD 10.6 billion in May 2025, contracting further from a downwardly revised 2.5% drop in the previous month.

This marked the sharpest decline since June 2024 as purchases decreased for mineral fuels, lubricants and related materials (-39.6%), cereal and cereal preparations (-16.4%), iron and steel (-12.2%), and telecommunication equipment and electrical machinery (-0.7%).

Conversely, inbound shipments increased for transport equipment (17.1%), industrial machinery and equipment (11.7%), miscellaneous manufactured articles (10.4%), and electronic products (8%).

Among top trading partners, arrivals slumped from South Korea (-31.1%), Malaysia (-26.3%), US (-13.9%), Thailand (-13.5%), Singapore (-10%), and Indonesia (-7%).

Meanwhile, imports went up from China (+14.9%), Japan (+14.7%), and Vietnam (+2.1%).

For the first five months of the year, imports were 4.4% higher compared to the same period last year.