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

Philippines recorded a USD 2.30 billion trade deficit in March of 2017, compared to a USD 1.75 billion gap a year earlier. It was the largest trade gap for a March month, as exports rose less than imports. Year-on-year, sales increased by 21.0 percent to USD 5.58 billion, following a downwardly revised 10.1 percent rise in February. Imports rose 24.0 percent to USD 7.88 billion, compared to a 20.3 percent growth in a month earlier. In February 2017, trade deficit was upwardly revised of USD 1.77 billion. Balance of Trade in Philippines averaged -283843.17 USD Thousand from 1957 until 2017, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -2637938.69 USD Thousand in January of 2016.

Philippines Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-03-10 01:00 AM Jan $-2314M $-2158M $-3111M
2017-04-11 01:00 AM Feb $-1728B $-2314M $-1010M
2017-05-11 01:00 AM Mar $-2302M $-1768M $-1511M
2017-06-09 01:00 AM Apr $-2302M $-2549M
2017-07-11 01:00 AM May $-2399M
2017-08-10 01:00 AM Jun $-1924M




Philippines Trade Deficit Widens In March


Philippines recorded a USD 2.30 billion trade deficit in March of 2017, compared to a USD 1.75 billion gap a year earlier, as exportss rose less than imports.

In March,  sales increased by 21.0 percent to USD 5.58 billion, following a downwardly revised 10.05 percent rise in February. Outbound shipments rose the most for cathodes and sections of cathodes (506.3 percent), coconut oil (215.8 percent) and gold (116.8 percent). Exports also went up for: other mineral products (80.0 percent), machinery and transport equipment (55.9 percent), other manufactures (47.5 percent), metal components (21.8 percent), chemicals (21.6 percent) and ignition wiring set and other wiring sets used in vehicles, aircraft and ships (20.2 percent). Sales of electronic products, the country’s top exports, increased by 19.0 percent.
 
Exports rose to the US (20.4 percent), Hong Kong (38.9 percent), China (38.9 percent), the ASEAN countries (20.9 percent) and the EU countries (56.2 percent). In contrast, sales declined to Japan (-23.1 percent).
 
Imports rose 24.0 percent to USD 7.88 billion, compared to a 20.3 percent growth in a month earlier. Purchases increased for: iron and steel (75.9 percent), cereals and cereal preparations (63.9 percent); mineral fuels, lubricants and related materials (48.7 percent), miscellaneous manufactured articles (31.2 percent), industrial machinery and equipment (25.6 percent), plastics in primary and non-primary forms (25.3 percent), transport equipment (20.3 percent) and electronic products (13.8 percent). In contrast, inbound shipments fell for other food and live animals (-13.9 percent).
 
In February 2017, trade deficit was upwardly revised to USD 1.77 billion.
 
 

National Statistics Office of Philippinesl Chusnul Ch Manan | chusnul@tradingeconomics.com
5/11/2017 2:18:21 AM



Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2302160.00 -1768000.00 1144700.00 -2637938.69 USD Thousand [+]
Exports 5579350.00 4743000.00 5931591.34 23000.00 USD Thousand [+]
Imports 7881510.00 6510700.00 7881510.00 37084.30 USD Thousand [+]
Current Account -197.31 -743.28 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 8.80 8.25 93.66 -35.31 USD Million [+]
Remittances 2615000.00 2615215.90 2615215.90 64208.00 USD Thousand [+]
Tourist Arrivals 579178.00 631639.00 631639.00 63628.00 [+]
Gold Reserves 196.34 196.18 274.42 126.89 Tonnes [+]
Terrorism Index 7.10 7.27 7.27 5.78 [+]
Crude Oil Production 20.00 20.00 38.00 0.80 BBL/D/1K [+]
Foreign Direct Investment 125694.30 26710.80 230215.40 3959.10 PHP Million [+]

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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
-2302160.00 -1768000.00 1144700.00 -2637938.69 1957 - 2017 USD Thousand Monthly



balance of trade by Country

Last
Australia 3107.00 Mar/17
Brazil 6969.00 Apr/17
Canada -134.70 Mar/17
China 380.48 Apr/17
Euro Area 30899.90 Mar/17
France -5353.00 Mar/17
Germany 25385.00 Mar/17
India -13249.19 Apr/17
Indonesia 1238.30 Apr/17
Italy 5418.04 Mar/17
Japan 481.75 Apr/17
Mexico 616.79 Apr/17
Netherlands 6719.00 Mar/17
Russia 12598.00 Mar/17
South Korea 13254.00 Apr/17
Spain -1458000.00 Mar/17
Switzerland 1968.25 Apr/17
Turkey -4492.00 Mar/17
United Kingdom -4900.00 Mar/17
United States -43706.00 Mar/17