Philippines Balance of Trade  1957-2018 | Data | Chart | Calendar

The Philippine's trade deficit widened 73.3 percent to USD 3.06 billion in February of 2018 from USD 1.77 billion in the same month a year earlier, as imports surged while exports fell. In February, imports soared 18.6 percent year-on-year to USD 7.72 billion, after a 11.4 percent gain in January. It was the fifth straight month of double-digit growth in inbound shipments, as purchases increased the most for miscellaneous manufactured articles (84.3 pct), industrial machinery & equipment (75.1 pct); iron & steel (32.7 pct). Meanwhile, exports declined by 1.8 percent to USD 4.66 billion, following an upwardly revised 3.5 percent growth in the previous month. It was the first drop in outbound shipments since a fall in November 2016. Balance of Trade in Philippines averaged -327017.57 USD Thousand from 1957 until 2018, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4016557.84 USD Thousand in December of 2017.

Philippines Balance of Trade
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Philippines Trade Gap Widens Sharply in February


The Philippine's trade deficit widened 73.3 percent to USD 3.06 billion in February of 2018 from USD 1.77 billion in the same month a year earlier, as imports surged while exports fell.

In February, imports soared 18.6 percent year-on-year to USD 7.72 billion, after a 11.4 percent gain in January. It was the fifth straight month of double-digit growth in inbound shipments, as purchases went up the most for: miscelleneous manufacture of articles (84.3 percent), industrial machinery & equipment (75.1 percent) and iron steel (32.7 percent). Also, imports rose for: cereal and cereal preparations (23.5 perccnt); transport equipment (20.1 percent); telecommunication equipment & electrical machinery (17.1 percent), electronic products (-13.5 percent); plastics in primary and non-primary forms (9.3 percent), and mineral fuels, lubricants and related material (0.1 percent). In contrast, imports dropped only for other food and live animals (-2.5 percent).
 
Imports from China, the Philippine’s biggest source of purchases, jumped by 57.7 percent. Also, imports  went up from: South Korea (42.5 percent); the US (25.1 percent); the ASEAN countries (12.5 percent), and the EU countries (8.5 percent). In contrast inbound shipment fell from Japan (-6.5 percent).
 
Meanwhile, exports declined by 1.8 percent to USD 4.66 billion, following an upwardly revised 3.5 percent growth in the previous month. It was the first decrease in outbound shipments since a drop in November 2016, as sales fell for: chemicals (-46 percent); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-35 percent); electronics equipment and parts (-15.5 percent), other manufactured goods (-10.8 percent), and machinery & transport equipment (-9.9 percent). In contrast, exports grew for: metal components (91.1 percent); miscellaneous manufactured articles (53.8 percent), gold (12 percent), cathodes and sections of cathodes of refined copper (8.6 percent). Sales of electronic products, the country’s top exports, also went up by 4.6 percent.
 
Sales dropped to the US (-5.4 percent); Japan (-6.5 percent) and Hong Kong (-9.3 percent). On the other hand, exports rose to China (17.7 percent); Hong Kong (37.1 percent), the ASEAN countries (9 percent) and the EU countries (9.4 percent).

 



PSA | Rida Husna | rida@tradingeconomics.com
4/11/2018 1:36:20 PM



Calendar GMT Actual Previous Consensus TEForecast
2018-02-09 01:00 AM Balance of Trade $-4017M $-3845M $ -2997.7M
2018-03-09 01:00 AM Balance of Trade $-3317M $-3839M $ -2180.9M
2018-04-11 01:00 AM Balance of Trade $-3065M $-3163M $ -776.5M
2018-05-10 01:00 AM Balance of Trade $-3065M $ -2930M
2018-06-08 01:00 AM Balance of Trade $ -3294.5M
2018-07-10 01:00 AM Balance of Trade $ -1698.2M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3065239.87 -3316866.86 1144700.00 -4016557.84 USD Thousand [+]
Exports 4659466.99 5218779.62 5931591.34 23000.00 USD Thousand [+]
Imports 7724706.86 8535646.47 8862531.80 37084.30 USD Thousand [+]
Current Account -1323.55 -1455.03 1810.97 -1455.03 USD Million [+]
Current Account to GDP -0.80 -0.40 5.80 -7.70 percent [+]
External Debt 73097.87 76621.97 79949.42 20893.00 USD Million [+]
Capital Flows 5.12 3.26 93.66 -35.31 USD Million [+]
Remittances 2267355.70 2379201.20 2741425.00 64208.00 USD Thousand [+]
Tourist Arrivals 732506.00 613372.00 732506.00 63628.00 [+]
Gold Reserves 196.40 196.36 274.42 126.89 Tonnes [+]
Terrorism Index 7.13 7.10 7.27 5.78 [+]
Foreign Direct Investment 21571.10 43018.30 230215.40 3959.10 PHP Million [+]
Crude Oil Production 15.00 15.00 38.00 1.00 BBL/D/1K [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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. 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 April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-3065239.87 -3316866.86 1144700.00 -4016557.84 1957 - 2018 USD Thousand Monthly




balance of trade by Country
Country Last
Australia 825.00 Feb/18
Brazil 6280.75 Mar/18
Canada -2686.00 Feb/18
China -49.83 Mar/18
Euro Area 18897.50 Feb/18
France -5186.00 Feb/18
Germany 18400.00 Feb/18
India -13690.00 Mar/18
Indonesia 1091.70 Mar/18
Italy 3104.28 Feb/18
Japan 797.35 Mar/18
Mexico 1062.00 Feb/18
Netherlands 4514.00 Feb/18
Russia 12192.00 Feb/18
South Korea 6865.00 Mar/18
Spain -2167000.00 Feb/18
Switzerland 3215.34 Feb/18
Turkey -5760.71 Feb/18
United Kingdom -965.00 Feb/18
United States -57591.00 Feb/18


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