Philippines Trade Deficit Unchanged in March

2026-04-30 01:27 By Kyrie Dichosa 1 min. read

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.



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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