Philippines Trade Gap Widens to 3½-Year High

2026-05-29 01:18 By Kyrie Dichosa 1 min. read

The Philippines’ trade deficit widened to USD 6.0 billion in April 2026 from USD 4.0 billion a year earlier.

This marks the largest trade gap since August 2022, as imports jumped 22.4%, the steepest pace in more than three and a half years, to USD 13.2 billion, driven by a surge in purchases of electronic products (+78.2%), mainly semiconductors (+104.6%).

Imports of mineral fuels also rose sharply (+105.6%).

China accounted for the largest share of imports (29.7%), followed by South Korea (11.8%) and Japan (7.3%).

Meanwhile, exports grew at a softer pace of 6.3%, the slowest in eight months, reaching USD 7.2 billion.

Shipments of electronic products increased modestly (+1.2%), as a surge in consumer electronics exports (+206.3%) was partially offset by a decline in semiconductors (-4.7%).

Exports also rose for coconut oil (+69.3%), other mineral products (+55.4%), and gold (+73.7%).

The US remained the top export market, accounting for 18%, followed by China (12.9%) and Japan (12.7%).



News Stream
Philippines Trade Gap Widens to 3½-Year High
The Philippines’ trade deficit widened to USD 6.0 billion in April 2026 from USD 4.0 billion a year earlier. This marks the largest trade gap since August 2022, as imports jumped 22.4%, the steepest pace in more than three and a half years, to USD 13.2 billion, driven by a surge in purchases of electronic products (+78.2%), mainly semiconductors (+104.6%). Imports of mineral fuels also rose sharply (+105.6%). China accounted for the largest share of imports (29.7%), followed by South Korea (11.8%) and Japan (7.3%). Meanwhile, exports grew at a softer pace of 6.3%, the slowest in eight months, reaching USD 7.2 billion. Shipments of electronic products increased modestly (+1.2%), as a surge in consumer electronics exports (+206.3%) was partially offset by a decline in semiconductors (-4.7%). Exports also rose for coconut oil (+69.3%), other mineral products (+55.4%), and gold (+73.7%). The US remained the top export market, accounting for 18%, followed by China (12.9%) and Japan (12.7%).
2026-05-29
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