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

The Philippines posted a USD 2.15 billion in June of 2017, compared to a USD 2.74 billion gap in the same month a year earlier, as exports rose 0.8 percent from a year earlier while imports fell 2.5 percent. In June 2017, the trade deficit was marginally revised to USD 2.74 billion. Considering January to June 2017, the trade deficit was recorded at USD 13.17 billion, up slightly from a USD 12.99 billion gap in the same period the prior year. Balance of Trade in Philippines averaged -295911.53 USD Thousand from 1957 until 2017, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -2737000 USD Thousand in May of 2017.

Philippines Balance of Trade
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Philippines Trade Gap Narrows 21.5% YoY in June


The Philippines posted a USD 2.15 billion in June of 2017, compared to a USD 2.74 billion gap in the same month a year earlier, as exports rose 0.8 percent from a year earlier while imports fell 2.5 percent.

In June, sales edged up 0.8 percent year-on-year to USD 4.91 billion, following a downwardly revised 9.2 percent rise in a month earlier. Outbound shipments rose for: electronic equipment and parts (28.6 percent), metal components (18.7 percent), ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (13.7 percent) and machinery and transport equipment (1.1 percent).  Sales of electronic products, the country’s top exports, also went up by 4.4 percent. In contrast, sales fell for: woodcrafts and furniture (-42.0 percent), other mineral products (-16.9 percent), chemicals (-5.0 percent), coconut oil (-4.5 percent) and other manufactures (-2.0 percent).

Exports increased to Hong Kong (12.6 percent), the ASEAN countries (4.8 percent) and the EU countries (3.9 percent). In contrast, sales declined to Japan (-9.0 percent), the US (-8.7 percent), China (-2.4 percent) and Singapore (-7.1 percent).

Imports dropped by 2.5 percent to USD 7.06 billion, after gaining an upwardly revised 21.9 percent in the prior month. Purchases were down for: iron and steel (-18.2 percent), electronic products (-8.4 percent), plastics in primary and non-primary forms (-7.8 percent), miscellaneous manufactured articles (-3.3 percent), industrial machinery and equipment (-2.6 percent) and other food and live animals (-0.7 percent). In contrast, imports went up for: medicinal and pharmaceutical products (18.5 percent); transport equipment (9.6 percent); mineral fuels, lubricants and related materials (3.4 percent) and telecommunication equipment and electrical machinery (0.3 percent). Inbound shipments from China, the Philippines’s biggest source of imports, decreased by 3.7 percent. Imports also fell from the US (-8.2 percent). In contrast, purchases increased from: Japan (0.5 percent), Thailand (0.1 percent), South Korea (16.0 percent), the ASEAN countries (4.5 percent) and the EU countries (0.5 percent).  

In June 2017, the trade deficit was marginally revised to USD 2.74 billion.

Considering January to June 2017, the trade deficit was recorded at USD 13.17 billion, up slightly from a USD 12.99 billion gap in the same period the prior year. Exports in the period grew by 13.6 percent to USD 31.04 billion while imports rose 9.6 percent to USD 44.22 billion.

PSA l Rida Husna | rida@tradingeconomics.com
8/10/2017 2:20:27 AM



Calendar GMT Actual Previous Consensus Forecast (i)
2017-06-09 01:00 AM Apr $-2052M $-2297M $-2549M
2017-07-11 01:00 AM May $-2753M $-1754M $-1900M
2017-08-10 01:00 AM Jun $-2150M $-2737M $-1924M
2017-09-12 01:00 AM Jul $-2150M $-1860M
2017-10-10 01:00 AM Aug $-2130M
2017-11-10 01:00 AM Sep $-1691M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2147000.00 -2737000.00 1144700.00 -2737000.00 USD Thousand [+]
Exports 4913000.00 5507000.00 5931591.34 23000.00 USD Thousand [+]
Imports 7060000.00 8244000.00 8244000.00 37084.30 USD Thousand [+]
Current Account -490.62 971.68 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 2.41 6.72 93.66 -35.31 USD Million [+]
Remittances 2467072.50 2310000.00 2615215.90 64208.00 USD Thousand [+]
Tourist Arrivals 532757.00 565098.00 631639.00 63628.00 [+]
Gold Reserves 196.35 196.34 274.42 126.89 Tonnes [+]
Terrorism Index 7.10 7.27 7.27 5.78 [+]
Foreign Direct Investment 22883.30 125694.30 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 Notes

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 August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2147000.00 -2737000.00 1144700.00 -2737000.00 1957 - 2017 USD Thousand Monthly



balance of trade by Country

Last
Australia 856.00 Jun/17
Brazil 6298.00 Jul/17
Canada -3601.90 Jun/17
China 467.36 Jul/17
Euro Area 26587.50 Jun/17
France -4657.00 Jun/17
Germany 22324.00 Jun/17
India -11449.80 Jul/17
Indonesia -271.20 Jul/17
Italy 4502.18 Jun/17
Japan 418.77 Jul/17
Mexico 61.53 Jun/17
Netherlands 6620.00 Jun/17
Russia 8690.00 Jun/17
South Korea 10646.00 Jul/17
Spain -1259000.00 Jun/17
Switzerland 3511.05 Jul/17
Turkey -6010.95 Jun/17
United Kingdom -4564.00 Jun/17
United States -43642.00 Jun/17