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

The Philippine's trade deficit widened sharply to USD 3.62 billion in April of 2018 from USD 1.55 billion in the same month a year earlier. It is the largest trade gap since last December, as export tumbled while imports surged. Exports fell by 8.5 percent to USD 5.11 billion, following a downwardly revised 6.8 percent fall in the previous month. It is the fourth straight month drop in outbound shipments. Meanwhile, imports jumped 22.2 percent year-on-year to USD 8.73 billion, after an upwardly revised 0.3 percent gain in March. Considering January to April, the trade deficit increased to USD 12.20 billion from USD 7.66 billion in the same period of 2017, as imports rose 10.5 percent to USD 33.16 billion while exports dropped 6.2 percent to USD 20.96 billion. Balance of Trade in Philippines averaged -334083.42 USD Thousand from 1957 until 2018, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4016557.84 USD Thousand in December of 2017.

Philippines Balance of Trade
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Philippines Trade Deficit Largest in 4 Months


The Philippine's trade deficit widened sharply to USD 3.62 billion in April of 2018 from USD 1.55 billion in the same month a year earlier. It is the largest trade gap since last December, as export tumbled while imports surged

Imports jumped 22.2 percent year-on-year to USD 8.73 billion, after an upwardly revised 0.3 percent gain in March. Purchases grew for all products : miscellaneous manufactured articles (49.1 pct); plastics in primary and non-primary forms (41.5 pct); telecommunication equipment and electrical machinery (33.6 pct); transport equipment (31.4 pct); iron and steel (30.8 pct); other food and live animals (29.4 pct); mineral fuels, lubricants and related materials (27.1 pct); organic and inorganic chemicals 25.1 pct); industrial machinery and equipment (24.1 pct), electronic products (15.2 pct).
 
Imports increased from : South Korea (53.3 pct); the EU countries (29.5 pct); the ASEAN countries (21.9 pct); the US (11.8 pct), and Japan (3.7 pct). Purchases from China, the Philippine’s biggest source of purchases, also rose by 35.3 percent.
 
Meanwhile, exports tumbled by 8.5 percent to USD 5.11 billion, following a downwardly revised 6.8 percent drop in the previous month. It is the fourth straight decline in outbound shipment, as sales fell for: machinery and transport equipment (-45 pct); gold (-25.2 pct); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-24.4 pct); coconut oil (-23.9 pct), and electronics equipment part (-1 percent). In contrast, exports grew for: miscellaneous manufactured articles, n.e.s (71.9 pct); other mineral products (3.3 pct), and metal components. Sales of electronic products, the country’s top exports, also went up by 5.5 percent.
 
Among major trading partners, exports dropped to Japan (-30.2 pct); the EU countries (-8.9 pct), and China (-4.6 pct). On the other hand, sales rose to the US (14.1 pct); Hong Kong (25.7 pct), and the ASEAN countries (4.5 pct), mainly to Singapore (9.1 pct).
 
Considering January to April, the trade deficit increased to USD 12.20 billion from USD 7.66 billion in the same period of 2017, as imports rose 10.5 percent to USD 33.16 billion while exports dropped 6.2 percent to USD 20.96 billion.


National Statistics Office of Philippines l Chusnul Ch Manan| chusnul@tradingeconomics.com
6/8/2018 3:21:02 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-04-11 01:00 AM Balance of Trade $-3065M $-3163M $ -776.5M
2018-05-09 01:00 AM Balance of Trade $-2608M $-2890M $ -2930M
2018-06-08 01:00 AM Balance of Trade $-3615M $-2532M $ -3294.5M
2018-07-10 01:00 AM Balance of Trade $-3615M $ -1698.2M
2018-08-09 01:00 AM Balance of Trade $ -2158M
2018-09-11 01:00 AM Balance of Trade $ -2921.4M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3615000.00 -2532000.00 1144700.00 -4016557.84 USD Thousand [+]
Exports 5114530.00 5597000.00 6003000.00 23000.00 USD Thousand [+]
Imports 8729210.00 8129000.00 8862531.80 37084.30 USD Thousand [+]
Current Account -203.88 77.60 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 6.31 4.00 93.66 -35.31 USD Million [+]
Remittances 2359615.40 2267355.70 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 732506.00 613372.00 732506.00 63628.00 [+]
Gold Reserves 196.40 196.40 274.42 126.89 Tonnes [+]
Terrorism Index 7.13 7.10 7.27 5.78 [+]
Foreign Direct Investment 14208.40 21571.10 230215.40 3959.10 PHP 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3615000.00 -2532000.00 1144700.00 -4016557.84 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Australia 977.00 Apr/18
Brazil 5981.00 May/18
Canada -1902.20 Apr/18
China 249.22 May/18
Euro Area 16704.70 Apr/18
France -4954.00 Apr/18
Germany 20413.00 Apr/18
India -14620.00 May/18
Indonesia -1629.30 Apr/18
Italy 2937.96 Apr/18
Japan -578.32 May/18
Mexico -289.15 Apr/18
Netherlands 3841.00 Apr/18
Russia 15316.00 Apr/18
South Korea 6732.00 May/18
Spain -830631.00 Mar/18
Switzerland 2798.79 Apr/18
Turkey -6690.00 Apr/18
United Kingdom -5280.00 Apr/18
United States -46199.00 Apr/18


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