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

The Philippines' s trade deficit widened to USD 2.41 billion in August of 2017 from USD 2.13 billion in the same month a year earlier. It was the largest trade gap since May, as exports rose less than and imports. Exports rose 9.3 percent year-on-year to USD 5.51 billion while imports increased 10.5 percent to USD 7.92 billion. In July 2017, the trade deficit was downwardly revised to USD 1.62 billion. Considering January to August 2017 the trade deficit was recorded at USD 17.05 billion, down slightly from a USD 17.50 billion gap in the same period the prior year Balance of Trade in Philippines averaged -303992.68 USD Thousand from 1957 until 2017, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -2736810.16 USD Thousand in May of 2017.

Philippines Balance of Trade
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Philippines Trade Gap Largest in 3 Months


The Philippines posted a trade deficit of USD 2.41 billion in August of 2017, compared to a USD 2.13 billion gap in the same month a year earlier. It was the largest trade deficit since May, as exports rose less than imports.

In August, sales rose 9.3 percent year earlier to USD 5.51 billion, following an upwardly revised 11 percent rise in a month earlier. Outbound shipments rose for: gold (186.7 percent), machinery and transport equipment (75.0 percent), electronic equipment and parts (71.2 percent), metal components (22.6 percent), coconut oil (61.2 pecent), other manufactured goods (13.8 percent). Sales of electronic products, the country’s top exports, also went up by 3.5 percent. In contrast, sales fell for: other mineral produtcs (-19.0 percent), chemicals (-6.6 percent), ignition wiring set and other wiring set used in vehicles, and aircrafts and ships (-2.7 percent).
 
Exports increased to Hong Kong (21.9 percent), the US (7.4 percent), the ASEAN Countries (13.9 percent), and the EU countries (31.3 percent). In contrast, sales declined to Japan (-13.6 percent), China (-0.4 percent), and Singapore (-15.8  percent)
 
Imports went up by 10.5 percent year-on-year to USD 7.92 billion, compared to a 3.2 percent fall in July. It was the first growth in inbound shipments in three months, driven by iron and steel (10.9 percent), electronic products (8.3 percent), industrial machinery and equipment (6.2 percent), metalliferous ores and metal scrap (718 percent), organic an inorganic chemiclas (27.6 percent), mineral fuels, lubricants and related materials (23.8 percent), telecommunication equipment and electrical machineray (11.3 percent), and transport equipment (2.2 percent). In contrast, imports went down for: miscelleneous manufactured articles (-16.2 percent).
 
Inbound shipment rose from Japan (9.6 percent), Indonesia (27.2 percent), South Korea (9.6 percent), the ASEAN countries (13.9 percent), and the EU countries (25.7 percent). Inbound shipments from China, the Philippines’s biggest source of imports, went down by 0.8 percent. Imports also fell from the US (-7.5 percent).
 
In July 2017, the trade deficit was downwardly revised to USD 1.62 billion.
 
Considering January to August 2017, the trade deficit was recorded at USD 17.05 billion, down slightly from a USD 17.50 billion gap in the same period the prior year. Exports in the period grew by 13.3 percent to USD 42.11 billion while imports went up 8.2 percent to USD 59.15 billion.
 
 
 

National Statistics Office of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
10/10/2017 2:54:22 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-10 01:00 AM Balance of Trade $-2150M $-2737M $-1924M
2017-09-12 01:00 AM Balance of Trade $-1650.0M $-1992.0M $-1860M
2017-10-10 01:00 AM Balance of Trade $-2411M $-1617M $-2130M
2017-11-10 01:00 AM Balance of Trade $-2410.0M $-1691M
2017-12-12 01:00 AM Balance of Trade $-1929M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2411000.00 -1617000.00 1144700.00 -2736810.16 USD Thousand [+]
Exports 5506830.00 5314000.00 5931591.34 23000.00 USD Thousand [+]
Imports 7918000.00 6930787.37 8243500.27 37084.30 USD Thousand [+]
Current Account 377.00 -633.00 1810.97 -1179.40 USD Million [+]
Current Account to GDP 0.20 2.50 5.80 -7.70 percent [+]
External Debt 76621.97 77474.07 79949.42 20893.00 USD Million [+]
Capital Flows 15.00 10.00 93.66 -35.31 USD Million [+]
Remittances 2500000.00 2283000.00 2615215.90 64208.00 USD Thousand [+]
Tourist Arrivals 474854.00 532757.00 631639.00 63628.00 [+]
Gold Reserves 196.35 196.35 274.42 126.89 Tonnes [+]
Terrorism Index 7.10 7.27 7.27 5.78 [+]
Foreign Direct Investment 18160.60 22883.30 230215.40 3959.10 PHP Million [+]
Crude Oil Production 15.00 15.00 38.00 0.80 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 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2411000.00 -1617000.00 1144700.00 -2736810.16 1957 - 2017 USD Thousand Monthly




balance of trade by Country

Last
Australia 989.00 Aug/17
Brazil 5178.00 Sep/17
Canada -3413.40 Aug/17
China 284.67 Sep/17
Euro Area 16086.90 Aug/17
France -4514.00 Aug/17
Germany 20000.00 Aug/17
India -8984.29 Sep/17
Indonesia 1760.00 Sep/17
Italy 2769.02 Aug/17
Japan 670.17 Sep/17
Mexico -2732.00 Aug/17
Netherlands 4073.00 Aug/17
Russia 6612.00 Aug/17
South Korea 13800.00 Sep/17
Spain -3226685.00 Aug/17
Switzerland 2917.62 Sep/17
Turkey -5873.11 Aug/17
United Kingdom -5626.00 Aug/17
United States -42395.00 Aug/17