The Philippines’ trade deficit widened to USD 6.0 billion in July 2026 from USD 4.4 billion in the same month a year earlier. Imports advanced 19.8% year-on-year to USD 14.1 billion, driven by higher purchases of electronic products (+61.3%), primarily semiconductors (+79%). Arrivals also increased for mineral fuels, lubricants and related materials (+34.8%), as well as cereals and cereal preparations (+50.1%). China accounted for the largest share of imports at 29.5%, followed by South Korea (12.7%), Japan (7.9%), and Indonesia (5.7%). Meanwhile, exports grew at a smaller 10.8% to USD 8.1 billion, supported by increased sales of electronic products (+22.2%), machinery and transport equipment (+16.6%), and gold (+29.3%). The US remained the top export market, accounting for 20.7% of total exports, followed by Hong Kong (15.9%), China (11.3%), and Japan (10.5%). In the January-July period, the trade gap widened to USD 37.3 billion from USD 28.9 billion in the same period last year. source: Philippine Statistics Authority

Philippines recorded a trade deficit of 5973475.53 USD Thousand in July of 2026. Balance of Trade in Philippines averaged -757893.35 USD Thousand from 1957 until 2026, reaching an all time high of 1144700.00 USD Thousand in September of 1999 and a record low of -6435354.44 USD Thousand in April of 2026. 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 September of 2026.

Philippines recorded a trade deficit of 5973475.53 USD Thousand in July of 2026. Balance of Trade in Philippines is expected to be -4250000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Balance of Trade is projected to trend around -4750000.00 USD Thousand in 2027 and -5150000.00 USD Thousand in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-30 01:00 AM
Balance of Trade
Jun $-4.939B $-6.103B $ -4.4B
2026-08-28 01:00 AM
Balance of Trade
Jul $-5.973B $-5.497B $-4.4B
2026-09-30 01:00 AM
Balance of Trade
Aug $-5.973B $-6.3B


Related Last Previous Unit Reference
Balance of Trade -5973475.53 -5496696.25 USD Thousand Jul 2026
Exports 8148251.53 8829558.23 USD Thousand Jul 2026
Exports YoY 10.80 25.00 percent Jul 2026
Imports 14121727.06 14326254.48 USD Thousand Jul 2026
Imports YoY 19.80 25.00 percent Jul 2026


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.
Actual Previous Highest Lowest Dates Unit Frequency
-5973475.53 -5496696.25 1144700.00 -6435354.44 1957 - 2026 USD Thousand Monthly

News Stream
Philippines Trade Gap Widens in July
The Philippines’ trade deficit widened to USD 6.0 billion in July 2026 from USD 4.4 billion in the same month a year earlier. Imports advanced 19.8% year-on-year to USD 14.1 billion, driven by higher purchases of electronic products (+61.3%), primarily semiconductors (+79%). Arrivals also increased for mineral fuels, lubricants and related materials (+34.8%), as well as cereals and cereal preparations (+50.1%). China accounted for the largest share of imports at 29.5%, followed by South Korea (12.7%), Japan (7.9%), and Indonesia (5.7%). Meanwhile, exports grew at a smaller 10.8% to USD 8.1 billion, supported by increased sales of electronic products (+22.2%), machinery and transport equipment (+16.6%), and gold (+29.3%). The US remained the top export market, accounting for 20.7% of total exports, followed by Hong Kong (15.9%), China (11.3%), and Japan (10.5%). In the January-July period, the trade gap widened to USD 37.3 billion from USD 28.9 billion in the same period last year.
2026-08-28
Philippine Trade Gap Widens in June
The Philippines’ trade deficit widened to USD 4.9 billion in June 2026 from USD 4.4 billion in the same month a year earlier. Imports rose 19.6% year-on-year to USD 13.7 billion, driven by a sharp increase in purchases of electronic products (+82.9%), mainly semiconductors (+105.4%), amid growing global AI demand. Imports also increased for mineral fuels (+6.3%), industrial machinery and equipment (+1.3%), and cereals and cereal preparations (+48.1%). China accounted for the largest share of imports (31.7%), followed by South Korea (13.0%), Japan (6.7%), and Indonesia (6.7%). Meanwhile, exports rose 24.1% to USD 8.8 billion, led by electronic products (+35.2%), primarily semiconductors (+33.4%). Exports also increased for machinery and transport equipment (+28.6%), gold (+43.8%), and other manufactured goods (+9.8%). The US remained the top export market, accounting for 20.1% of total exports, followed by Hong Kong (15.3%), China (11.4%), and Japan (11.3%).
2026-07-30
Philippines Trade Gap Widens Sharply in May
The Philippines’ trade deficit widened to USD 5.5 billion in May 2026 from USD 3.6 billion in the same month a year earlier. This marked the second-largest trade gap in over a year, behind only April’s reading, as imports jumped 21.9% year-on-year to USD 13.4 billion, driven by a sharp increase in purchases of electronic products (+93.3%), particularly semiconductors (+125.8%), amid the ongoing global boom in AI demand. Imports also increased for mineral fuels (+35.6%) and cereal and cereal preparations (+2.5%). China accounted for the largest share of imports (31.7%), followed by South Korea (13.2%) and Indonesia (6.4%). Meanwhile, exports rose 7.6% to USD 7.9 billion, driven by higher sales of electronic products (+11.9%), machinery and transport equipment (+51.2%), other mineral products (+30.2%), and gold (+19.4%). The US remained the top export market, accounting for 17.2%, followed by Hong Kong (15.2%), Japan (13.1%), and China (11.5%).
2026-06-30