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.

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Philippines Balance of Trade


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
-4706317.83 -4018572.03 1144700.00 -4706317.83 1957 - 2021 USD Thousand Monthly

Calendar GMT Actual Previous Consensus TEForecast
2021-12-10 01:00 AM Oct $-4.016B $-3.995B $-4B
2022-01-11 01:00 AM Nov $-4.706B $-4.019B $-4.1B
2022-01-27 01:00 AM Dec $-4.706B $ -4.2B


Related Last Previous Unit Reference
Balance of Trade -4706317.83 -4018572.03 USD Thousand Nov/21
Imports 10979575.63 10427832.19 USD Thousand Nov/21
Exports 6273257.79 6411242.59 USD Thousand Nov/21


News Stream
Philippines Trade Gap Widens 119.5% YoY in November
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.
2022-01-11
Philippines Trade Gap Doubles in October
The Philippines' trade deficit jumped to USD 4.02 billion in October 2021 from USD 2.05 billion in the same month a year earlier. This marked the largest trade gap since April 2020, as exports edged up 2.0 percent year-on-year to USD 6.41 billion, while imports surged 25.1 percent to USD 10.43 billion. Considering the first ten months of the year, the trade gap widened sharply to USD 33.23 billion from USD 20.0 billion.
2021-12-10
Philippines Posts Largest Trade Gap in 17 Months
The Philippines' trade deficit increased to USD 3.99 billion in September 2021 from USD 2.26 billion in the same month a year earlier. This marked the largest trade gap since April 2020, as exports grew by 6.3 percent year-on-year to USD 6.68 billion, while imports expanded at a faster 24.8 percent to a 36-month high of USD 10.67 billion. Considering the first nine months of the year, the trade gap widened to USD 29.18 billion from USD 17.95 billion.
2021-11-05