The Philippines' trade deficit decreased to USD 1.87 billion in May 2020 from USD 3.65 billion in the same month a year earlier. Exports slumped 35.6 percent year-on-year to USD 3.99 billion, while imports tumbled 40.6 percent to USD 5.85 billion. Considering the first five months of the year, the trade gap narrowed sharply to USD 9.89 billion from USD 16.79 billion gap in the corresponding period of 2019.

Balance of Trade in Philippines averaged -426924.74 USD Thousand from 1957 until 2020, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4415446.66 USD Thousand in October of 2018. 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 - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: National Statistics Office of Philippines

Balance of Trade in Philippines is expected to be 3320000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Philippines to stand at 4295000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -3480000.00 USD Thousand in 2021 and -4360000.00 USD Thousand in 2022, according to our econometric models.

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Philippines Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1865084.51 -448702.88 1144700.00 -4415446.66 1957 - 2020 USD Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-08 01:00 AM Feb $-1.656B $-3.504B $-3.3B
2020-05-06 01:00 AM Mar $-2.38B $-1.656B $ -3B
2020-06-10 01:00 AM Apr $-0.5B $-2.38B $-4.1B
2020-07-10 01:00 AM May $-1.865B $-0.449B $-2.5B
2020-08-05 01:00 AM Jun $-1.865B $ 5.7B
2020-09-10 01:00 AM Jul
2020-10-09 01:00 AM Aug
2020-11-04 01:00 AM Sep $ 3.3B


News Stream
Philippines Trade Gap Narrows in May
The Philippines' trade deficit decreased to USD 1.87 billion in May 2020 from USD 3.65 billion in the same month a year earlier. Exports slumped 35.6 percent year-on-year to USD 3.99 billion, while imports tumbled 40.6 percent to USD 5.85 billion. Considering the first five months of the year, the trade gap narrowed sharply to USD 9.89 billion from USD 16.79 billion gap in the corresponding period of 2019.
2020-07-10
Philippines Posts Smallest Trade Gap in Over 5 Years
The Philippines' trade deficit decreased sharply to USD 0.5 billion in April 2020 from USD 3.80 billion in the same month a year earlier. This marked the smallest trade deficit in more than five years, amid a sharp decline in economic activity on the back of the COVID-19 crisis. Exports slumped 50.8 percent year-on-year to the smallest since February 2009 of USD 2.78 billion, while imports tumbled 65.3 percent to the lowest figure in 11 years of USD 3.28 billion. Considering the first four months of the year, the trade gap narrowed sharply to USD 8.03 billion from USD 14.14 billion gap in the corresponding period of 2019.
2020-06-10
Philippines Trade Gap Narrows in March
The Philippines' trade deficit decreased to USD 2.38 billion in March 2020 from USD 3.33 billion in the same month a year earlier. Year-on-year, exports slumped 24.9 percent to USD 4.53 billion, while imports tumbled 26.2 percent to USD 6.91 billion. Considering the first three months of the year, the country posted a trade surplus of USD 2.82 billion, narrowing from a USD 3.67 billion in the corresponding period of 2019.
2020-05-06
Philippines Trade Gap Smallest Since July 2017
The Philippines' trade deficit decreased to USD 1.66 billion in February 2020 from USD 2.73 billion in the same month a year earlier. This was the smallest trade gap since July 2017, as exports grew by 2.8 percent year-on-year while imports slumped 11.6 percent. Considering the first two months of the year, the trade surplus narrowed to USD 5.2 billion from USD 7 billion in the corresponding period of 2019.
2020-04-08

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.