The Philippines' trade deficit decreased sharply to USD 1.71 billion in September 2020 from USD 3.41 billion in the same month a year earlier. Exports grew by 2.2 percent year-on-year to USD 6.22 billion, while imports tumbled 16.5 percent to USD 7.92 billion. Considering the first nine months of the year, the trade deficit narrowed to USD 16.32 billion from USD 30.48 billion in the same period of 2019. source: National Statistics Office of Philippines

Balance of Trade in Philippines averaged -433111.45 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 November of 2020.

Balance of Trade in Philippines is expected to be -2670000.00 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 -3640000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -4060000.00 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
-1707670.00 -2075000.00 1144700.00 -4415446.66 1957 - 2020 USD Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-05 01:00 AM Jun $-1.303B $-1.321B $ 5.7B
2020-09-10 01:00 AM Jul $-1.827B $-1.375B $-1.9B
2020-10-09 01:00 AM Aug $-2.075B $-1.860B $-2.1B
2020-11-04 01:00 AM Sep $-1.707B $-2.075B $ -2.4B
2020-12-10 01:00 AM Oct $-1.707B $-1.9B
2021-01-10 01:00 AM Nov
2021-02-11 01:00 AM Dec
2021-03-10 01:00 AM Jan


News Stream
Philippines Trade Gap Narrows Sharply in September
The Philippines' trade deficit decreased sharply to USD 1.71 billion in September 2020 from USD 3.41 billion in the same month a year earlier. Exports grew by 2.2 percent year-on-year to USD 6.22 billion, while imports tumbled 16.5 percent to USD 7.92 billion. Considering the first nine months of the year, the trade deficit narrowed to USD 16.32 billion from USD 30.48 billion in the same period of 2019.
2020-11-04
Philippines Trade Gap Narrows
The Philippines' trade deficit decreased to USD 2.08 billion in August 2020 from USD 3.0 billion in the same month a year earlier. Year-on-year, exports fell by 18.6 percent, while imports dropped at a faster 22.6 percent. Considering the first eight months of the year, the trade deficit narrowed to USD 14.61 billion from USD 27.07 billion in the same period of 2019.
2020-10-09
Philippines Trade Gap Narrows in July
The Philippines' trade deficit decreased to USD 1.83 billion in July 2020 from USD 3.64 billion in the same month a year earlier. Year-on-year, exports fell by 9.6 percent, while imports dropped at a faster 24.4 percent. Considering the first seven months of the year, the trade deficit narrowed to USD 12.51 billion from USD 24.07 billion in the same period of 2019.
2020-09-10
Philippines Trade Gap Smallest Since 2015
The Philippines' trade deficit decreased to USD 1.30 billion in June 2020 from USD 2.64 billion in the same month a year earlier. This was the smallest trade gap since November 2015, with exports falling 13.3 percent year-on-year to USD 5.33 billion, while imports declining at a faster 24.5 percent to USD 6.63 billion. Considering the first half of the year, the trade deficit narrowed to USD 14.64 billion from USD 20.41 billion in the same period of 2019.
2020-08-05

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.