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

The Philippines' s trade deficit widened to USD 3.78 billion in November of 2017 from USD 2.49 billion in the same month a year earlier, mainly due to a surge in imports. Exports rose 1.6 percent year-on-year to USD 4.96 billion while imports jumped 18.5 percent to USD 8.74 billion. In October 2017, the trade deficit was marginallyy revised to USD 2.82 billion. Considering January to November 2017 the trade deficit was recorded at USD 25.71 billion, up from a USD 24.23 billion gap in the same period the prior year. Balance of Trade in Philippines averaged -314284.55 USD Thousand from 1957 until 2017, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -3780000 USD Thousand in November of 2017.

Philippines Balance of Trade
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Philippines Trade Deficit Largest on Record in November

The Philippines posted a trade deficit of USD 3.78 billion in November of 2017, compared to a USD 2.49 billion gap in the same month a year earlier.

In November, sales rose 1.6 percent year earlier to USD 4.96 billion, following an upwardly revised 7.1 percent rise in a month earlier. Outbound shipments rose for: gold (136.7 percent); electronic equipment and parts (47.5 percent); metal components (25.4 percent); cathodes and sections of cathodes, of refined copper (418.6 percent); miscellaneous manufactured articles, n.e.s (14.8 percent). Sales of electronic products, the country’s top exports, also went up by 12.78 percent. In contrast, sales fell for: machinery and transport equipment (-33.7 percent); coconut oil (-8 pecent); ignition wiring set and other wiring sets used in vehicles, aircrfats and ships (-0.1 percent), and other manufactured goods (-26.8 percent).
Exports increased to Hong Kong (24 percent); the EU (23.4 percent); the ASEAN Countries (17.9 percent) mainly Singapore (4.5 percent); the EU countries (12 pct), and the USA (0.9 percent). In contrast, sales declined to Japan (-17.5 percent) and China (-3.8 percent).
Imports surged by 18.5 percent year-on-year to USD 8.74 billion, compared to a 13.1 percent rise in October. It was the fourth straight monthly growth in inbound shipments, driven by mineral fuels, lubricant (38.6 percent); telecommunication equipment and electrical machinery (32.8 percent); iron and steel (26.4 percent); electronic products (23.4 percent); organic and inorganic chemicals (44.9 percent); miscellaneous manufactured articles (29.6 pct), and transport equipment (6 percent). In contrast, imports fell for industrial machinery and equipment (-1.2 percent); other food and live animals (-4 percent), and plastics in primary and non-primary forms (-2.2 percent).
Inbound shipment went up from South Korea (101.3 percent); China (14 percent); Japan (16.5 percent), the ASEAN Countries (19.3 percent) mainly Thailand (10.7 percent). In contrast, imports declined from the US (-4.4 percent)
In October 2017, the trade deficit was a marginally revised to USD 2.82 billion.
Considering January to November 2017, the trade deficit was recorded at USD 25.71 billion, up from a USD 24.23 billion gap in the same period the prior year. Exports in the period grew by 10.8 percent to USD 58.10 billion while imports went up 9.3 percent to USD 83.80 billion.

National Statistics Office of Philippines | Chusnul Ch Manan |
1/10/2018 11:57:05 AM

Calendar GMT Actual Previous Consensus TEForecast
2017-11-10 01:00 AM Balance of Trade $-1910.0M $-2393.0M $-2250M $-2191M
2017-12-12 01:00 AM Balance of Trade $-2840M $-2077M $-1929M
2018-01-10 01:00 AM Balance of Trade $-3781M $-2819M $ -2411M
2018-02-10 01:00 AM Balance of Trade $-3780M $ -2997.7M
2018-03-10 01:00 AM Balance of Trade $ -3025M
2018-04-11 01:00 AM Balance of Trade $ -3055.6M

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3781040.00 -2819000.00 1144700.00 -3781040.00 USD Thousand [+]
Exports 4963150.00 5392000.00 5931591.34 23000.00 USD Thousand [+]
Imports 8744190.00 8212000.00 8744190.00 37084.30 USD Thousand [+]
Current Account 129.60 108.14 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 12.95 11.31 93.66 -35.31 USD Million [+]
Remittances 2260000.00 2275000.00 2615215.90 64208.00 USD Thousand [+]
Tourist Arrivals 523627.00 479803.00 631639.00 63628.00 [+]
Gold Reserves 196.36 196.36 274.42 126.89 Tonnes [+]
Terrorism Index 7.13 7.10 7.27 5.78 [+]
Foreign Direct Investment 43018.30 18160.60 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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3781040.00 -2819000.00 1144700.00 -3781040.00 1957 - 2017 USD Thousand Monthly

balance of trade by Country
Country Last
Australia -628.00 Nov/17
Brazil 4997.77 Dec/17
Canada -2540.40 Nov/17
China 546.85 Dec/17
Euro Area 26272.60 Nov/17
France -5692.00 Nov/17
Germany 23700.00 Nov/17
India -14880.19 Dec/17
Indonesia -270.00 Dec/17
Italy 4829.68 Nov/17
Japan 113.36 Nov/17
Mexico 399.21 Nov/17
Netherlands 6041.00 Nov/17
Russia 11515.00 Nov/17
South Korea 5783.00 Dec/17
Spain -1621000.00 Nov/17
Switzerland 2633.00 Nov/17
Turkey -6320.40 Nov/17
United Kingdom -2804.00 Nov/17
United States -50497.00 Nov/17