Philippines Balance of Trade  1957-2018 | Data | Chart | Calendar

The Philippine's trade deficit widened to USD 3.51 billion in August of 2018 from USD 2.74 billion in the same month a year earlier. Imports increased 11 percent year-on-year to USD 9.68 billion, after a 31.6 percent jump in July. Meanwhile, exports went up at a softer 3.1 percent to USD 6.16 billion, following a 0.3 percent increase in the previous month. It was the third straight month increase in exports. Considering the first eight months of the year, the trade deficit surged to USD 26 billion from USD 15.79 billion in the same period of 2017, as imports went up 15 percent to USD 70.91 billion while exports dropped 2 percent to USD 44.91 billion. Balance of Trade in Philippines averaged -347048.13 USD Thousand from 1957 until 2018, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -3972222.17 USD Thousand in December of 2017.

Philippines Balance of Trade
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Philippines Trade Deficit Widens in August


The Philippine's trade deficit widened to USD 3.51 billion in August of 2018 from USD 2.74 billion in the same month a year earlier, as exports rose less than imports.

Imports increased by 11 percent year-on-year to USD 9.68 billion, following a 31.6 percent surge in July. Purchases grew for: cereal and cereal preparations (68.4 percent); iron and steel (63.6 percent); mineral fuels, lubricants and related materials (42.3 percent); transport equipment (29.2 percent); plastic in primary and non-primary form (12.9 percent); electronic products (10 percent); miscellaneous manufactured articles (5 percent); industrial machinery and equipment (4.4 percent), and telecommunication equipment and electrical machinery (0.03 percent). By contrast inbound shipment fell for other food and live animals (-1.4 percent).
 
Inbound shipments went up from: South Korea (14.8 percent), Thailand (23.8 percent), the US (2.6 percent), the EU countries (26.7 percent) and the ASEAN countries (3.6 percent). Purchases from China, the Philippine’s biggest source of purchases, also rose by 28.2 percent. In contrast, inbound shipment from Japan fell by 11.3 percent.

Meantime, exports went up by 3.1 percent to USD 6.16 billion, after a 0.3 percent gain in the previous month. It marked the third straight increase in outbound shipments, as sales increased for: cathodes and sections of cathodes, of refines copper (79 percent); bananas (46.9 percent); other mineral products (21.8 percent); and other manufactured goods (6.4 percent). Also, sales of electronic products, the country’s top exports, also grew 7 percent. On the other hand, exports declined for: ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-22.9 percent); chemicals (-8.2 percent); metal components (-4.8 percent), and machinery and transports equipment (-3.5 percent).
 
Among major trading partners, exports rose to China (34.4 percent), the US (8.9 percent), Hong Kong (5.2 percent), and the ASEAN countries (10.3 percent). Meantime, sales decreased to Japan (-6.5 percent).
 
Considering the first eight months of the year, the trade deficit jumped to USD 26 billion from USD 15.79 billion in the same period of 2017, as imports went up 15 percent to USD 70.91 billion while exports went down 2 percent to USD 44.91 billion.
 
 
 
 


National Statistics Office of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/10/2018 11:32:02 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-08 01:00 AM Balance of Trade $-3350M $-3690M $ -2158M
2018-09-11 01:00 AM Balance of Trade $-3546M $-3188M $ -2921.4M
2018-10-10 01:00 AM Balance of Trade $-3513.0M $-3546M $ -3151.7M
2018-11-09 01:00 AM Balance of Trade $-3513.0M $ -3480M
2018-12-11 01:00 AM Balance of Trade $ -2537.6M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3513488.31 -3546064.93 1144700.00 -3972222.17 USD Thousand [+]
Exports 6163490.00 5851324.67 6163490.00 23000.00 USD Thousand [+]
Imports 9676980.00 9397389.59 9676980.00 37084.30 USD Thousand [+]
Current Account -823.78 -1171.01 1810.97 -1455.03 USD Million [+]
Current Account to GDP -0.80 -0.40 5.80 -7.70 percent [+]
External Debt 73097.87 76621.97 79949.42 20893.00 USD Million [+]
Capital Flows 0.86 -1.71 93.66 -35.31 USD Million [+]
Remittances 2476000.00 2401000.00 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 601322.00 528747.00 732506.00 63628.00 [+]
Gold Reserves 197.90 196.40 274.42 126.89 Tonnes [+]
Terrorism Index 7.13 7.10 7.27 5.78 [+]
Foreign Direct Investment 914.00 831.00 2256.00 -396.00 USD Million [+]
Crude Oil Production 15.00 15.00 38.00 1.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Philippines Balance of Trade

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 October of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3513488.31 -3546064.93 1144700.00 -3972222.17 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Argentina -1127.00 Aug/18
Australia 1604.00 Aug/18
Brazil 4971.00 Sep/18
Canada 526.10 Aug/18
China 316.93 Sep/18
Euro Area 11671.20 Aug/18
France -5632.00 Aug/18
Germany 17174.00 Aug/18
India -13980.00 Sep/18
Indonesia 227.10 Sep/18
Italy 2564.00 Aug/18
Japan 139.56 Sep/18
Mexico -2590.00 Aug/18
Netherlands 3463.00 Aug/18
Russia 15797.00 Aug/18
Saudi Arabia 162782.00 Jun/18
Singapore 3685.26 Sep/18
South Africa 8794.70 Aug/18
South Korea 9746.00 Sep/18
Spain -3247700.00 Jul/18
Switzerland 1447.00 Sep/18
Turkey -2421.79 Aug/18
United Kingdom -1274.00 Aug/18
United States -53237.00 Aug/18


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