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

The Philippine's trade deficit widened sharply to USD 3.35 billion in June of 2018 from USD 1.59 billion in the same month a year earlier. Imports jumped 24.2 percent year-on-year to USD 9.05 billion, after an upwardly revised 12.6 percent gain in rise. Meanwhile, exports inched down by 0.1 percent to USD 5.70 billion, following a downwardly revised 1.8 percent fall in the previous month. It is the sixth straight month decline in outbound shipments. Considering the first half of the year, the trade deficit rose to USD 19.11 billion from USD 11.75 billion in the same period of 2017, as imports went up 13.2 percent to USD 51.84 billion while exports dropped 3.8 percent to USD 32.73 billion. Balance of Trade in Philippines averaged -338656.32 USD Thousand from 1957 until 2018, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -3972222.17 USD Thousand in December of 2017.

Philippines Balance of Trade
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Philippines Trade Gap Widens Sharply in June


The Philippine's trade deficit widened sharply to USD 3.35 billion in June of 2018 from USD 1.59 billion in the same month a year earlier, as exports edged down while imports surged.

Imports jumped by 24.2 percent year-on-year to USD 9.05 billion, following an upwardly revised 12.6 percent rise in May. Purchases grew for: iron and steel (79.1 pct); cereal and cereal preparations (57.1 pct); electronic products (35.1 pct); mineral fuels, lubricants and related materials (32.5 pct); transport equipment (27.8 pct); miscellaneous manufactured articles (26.9 pct); plastics in primary and non-primary forms (23.5 pct); industrial machinery and equipment (22.1 pct); telecommunication equipment and electrical machinery (15.9 pct), and other food and live animals (0.1 pct). Inbound shipments went up from: South Korea (58.8 pct); the EU countries (34.3 pct); the ASEAN countries (15.4 pct), and the US (13.2 pct). Purchases from China, the Philippine’s biggest source of purchases, also rose by 44 percent. In contrast, imports dropped from Japan (-0.8 pct).
 
Meantime, exports edged down by 0.1 percent to USD 5.70 billion, after a downwardly revised 1.8 percent drop in the previous month. It marked the sixth straight fall in outbound shipments, as sales decreased for: other mineral products (-56.6%); chemicals (-34.3%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-23.7%), and banana (-2.4%). On the other hand, exports rose for: coconut oil (15.7%), metal components (14.8%); electronics equipment and parts (5.9 %); other manufactured goods (0.8%), and machinery and transport equipment (0.1%). Sales of electronic products, the country’s top exports, also grew 13.5 percent. Among major trading partners, exports dropped to Japan (-31.8%). Meantime, sales rose to Hong Kong (31.1 %); the US (19.4%); the ASEAN countries (18.1%), and China (14.5%).
 
Considering the first half of the year, the trade deficit rose to USD 19.11 billion from USD 11.75 billion in the same period of 2017, as imports went up 13.2 percent to USD 51.84 billion while exports dropped 3.8 percent to USD 32.73 billion.
 
 
 


National Statistics Office of Philippines l Chusnul Ch Manan | chusnul@tradingeconomics.com
8/8/2018 2:15:00 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-06-08 01:00 AM Balance of Trade $-3615M $-2532M $ -3294.5M
2018-07-10 01:00 AM Balance of Trade $-3701M $-3480M $ -2945.1M
2018-08-08 01:00 AM Balance of Trade $-3350M $-3690M $ -2158M
2018-09-11 01:00 AM Balance of Trade $-3350M $ -2921.4M
2018-10-10 01:00 AM Balance of Trade $ -3151.7M
2018-11-09 01:00 AM Balance of Trade $ -3217.2M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3349820.00 -3690000.00 1144700.00 -3972222.17 USD Thousand [+]
Exports 5700390.00 5879000.00 6003047.36 23000.00 USD Thousand [+]
Imports 9050210.00 9569000.00 9569000.00 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 2357000.00 2469000.00 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 537743.00 591137.00 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 1645.00 1027.00 2256.00 -396.00 USD 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 August of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3349820.00 -3690000.00 1144700.00 -3972222.17 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Australia 1873.00 Jun/18
Brazil 4227.00 Jul/18
Canada -625.50 Jun/18
China 280.50 Jul/18
Euro Area 22509.60 Jun/18
France -6248.00 Jun/18
Germany 21792.00 Jun/18
India -18020.00 Jul/18
Indonesia -2030.30 Jul/18
Italy 5071.00 Jun/18
Japan -231.21 Jul/18
Mexico -897.00 Jun/18
Netherlands 4813.00 Jun/18
Russia 15555.00 Jun/18
South Korea 7006.00 Jul/18
Spain -2153628.00 May/18
Switzerland 1308.99 Jun/18
Turkey -5496.69 Jun/18
United Kingdom -1861.00 Jun/18
United States -46348.00 Jun/18


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