The Philippines' trade deficit jumped to USD 4.71 billion in November 2021 from USD 2.05 billion in the same month a year earlier. This was the largest trade gap on record, as exports grew by 6.6% yoy to USD 6.27 billion while imports climbed 36.8% to USD 10.98 billion. Considering the first eleven months of the year, the trade gap widened sharply to USD 37.92 billion from USD 22.15 billion, with exports growing 15.2% from the same period of 2020 to USD 68.37 billion and imports jumping 30.4% to USD 106.30 billion. source: Philippine Statistics Authority
Balance of Trade in Philippines averaged -483212.68 USD Thousand from 1957 until 2021, reaching an all time high of 4706317 USD Thousand in November of 2021 and a record low of -4706000 USD Thousand in November of 2021. 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 January of 2022.
Balance of Trade in Philippines is expected to be -3700000.00 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 -3200000.00 USD Thousand in 2023, according to our econometric models.