The Philippines’ trade deficit was unchanged at USD 4.5 billion in March 2026 compared with the same period a year earlier. Exports climbed 20.4% year-on-year to a record USD 8.2 billion, driven by a surge in sales of electronic products (+33%), mainly attributed to increased exports of semiconductors (+38.2%). Exports also surged in machinery and transport equipment (+70.6%) and gold (+84%). The US remained the top export destination (17.1%), followed by Hong Kong (15.9%), Japan (11.8%), and China (11.7%). Meanwhile, imports rose by 12.3% to also a historic high of USD 12.7 billion, pushed by increased purchases of electronic products (+44.2%), mineral fuels (+35.1%), and cereals and cereal preparations (+33.6%). China accounted for the largest share of imports (27.6%), alongside South Korea (11.3%) and Japan (8.4%). For the first quarter, the trade deficit widened to USD 12.8 billion from USD 12.5 billion in the corresponding period last year. source: Philippine Statistics Authority

Philippines recorded a trade deficit of 4511803.59 USD Thousand in March of 2026. Balance of Trade in Philippines averaged -732019.61 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 -5993433.00 USD Thousand in August of 2022. 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 May of 2026.

Philippines recorded a trade deficit of 4511803.59 USD Thousand in March of 2026. Balance of Trade in Philippines is expected to be -4400000.00 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 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-27 01:00 AM
Balance of Trade
Feb $-3.683B $-4.274B $-3.8B
2026-04-30 01:00 AM
Balance of Trade
Mar $-4.512B $-4.015B $ -4.1B
2026-05-29 01:00 AM
Balance of Trade
Apr $-4.512B


Related Last Previous Unit Reference
Balance of Trade -4511803.59 -4014896.13 USD Thousand Mar 2026
Exports 8167167.44 7389311.43 USD Thousand Mar 2026
Exports YoY 20.40 8.00 percent Mar 2026
Imports 12678971.03 11404207.56 USD Thousand Mar 2026
Imports YoY 12.30 12.60 percent Mar 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
-4511803.59 -4014896.13 1144700.00 -5993433.00 1957 - 2026 USD Thousand Monthly

News Stream
Philippines Trade Deficit Unchanged in March
The Philippines’ trade deficit was unchanged at USD 4.5 billion in March 2026 compared with the same period a year earlier. Exports climbed 20.4% year-on-year to a record USD 8.2 billion, driven by a surge in sales of electronic products (+33%), mainly attributed to increased exports of semiconductors (+38.2%). Exports also surged in machinery and transport equipment (+70.6%) and gold (+84%). The US remained the top export destination (17.1%), followed by Hong Kong (15.9%), Japan (11.8%), and China (11.7%). Meanwhile, imports rose by 12.3% to also a historic high of USD 12.7 billion, pushed by increased purchases of electronic products (+44.2%), mineral fuels (+35.1%), and cereals and cereal preparations (+33.6%). China accounted for the largest share of imports (27.6%), alongside South Korea (11.3%) and Japan (8.4%). For the first quarter, the trade deficit widened to USD 12.8 billion from USD 12.5 billion in the corresponding period last year.
2026-04-30
Philippines Trade Deficit Widens in February
The Philippines’ trade deficit widened to USD 3.7 billion in February 2026 from USD 3.0 billion a year earlier. Imports jumped 12.6% year-on-year to USD 11.0 billion, the fastest pace since June 2025, driven largely by higher purchases of electronic products (+39.3%), including semiconductors (+44.6%), electronic data processing equipment (+41.1%), and office equipment (+26.3%). China accounted for the largest share of imports (28.4%), followed by South Korea (12.5%), Japan (8.5%), and Indonesia (7%). Meanwhile, exports rose a softer 8%, the slowest pace in six months, to USD 7.3 billion, driven by gains in electronic products (+20.5%), machinery and transport equipment (+47.7%), and gold (+132.2%). The US remained the top export destination (19.3%), followed by Hong Kong (16%), Japan (13.5%), and China (9.1%). For the first two months of 2026, the trade deficit edged up slightly to USD 8.0 billion from USD 7.9 billion last year.
2026-03-27
Philippines Trade Deficit Narrows in January
The Philippines’ trade deficit narrowed to USD 4.0 billion in January 2026 from USD 4.9 billion a year earlier, as exports rose while imports declined. Exports increased 7.9% year-on-year to USD 7.1 billion, led by higher shipments of electronic products (+18.8%), which remained the country’s top export commodity, accounting for 56.5% of total exports. Outbound shipments also rose for gold (+263%) and machinery and transport equipment (+68.4%). The US accounted for the largest share of exports (16.4%), followed by Hong Kong (15.9%), Japan (12.3%), and China (9.8%). Meanwhile, imports fell 3.1% to USD 11.1 billion, weighed down by lower purchases of mineral fuels, lubricants, and related materials (-25%), transport equipment (-3.3%), and industrial machinery and equipment (-12.2%). China remained the largest source of imported goods (29.2%), followed by South Korea (11.2%), Japan (8.3%), and Indonesia (7.1%).
2026-02-27