The Philippine's trade deficit narrowed to USD 2.41 billion in August of 2019 from USD 3.60 billion in the same month a year earlier, as exports rose 0.6 percent year-on-year while imports tumbled 11.8 percent. Considering the first eight months of the year, exports edged up 0.1 percent from a year earlier while imports declined 2.8 percent, recording a USD 24.70 billion trade gap. Balance of Trade in Philippines averaged -397671.13 USD Thousand from 1957 until 2019, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4415446.66 USD Thousand in October of 2018.

Balance of Trade in Philippines is expected to be -4140000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Philippines to stand at -2350000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -3480000.00 USD Thousand in 2020, according to our econometric models.

Philippines Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-10 01:00 AM Balance of Trade May $-3275M $-3469M $-3420M
2019-08-07 01:00 AM Balance of Trade Jun $-2473M $-3298M $ -3530M
2019-09-10 01:00 AM Balance of Trade Jul $-3393M $-2370M $-3820M
2019-10-10 01:00 AM Balance of Trade Aug $-2409M $-3393M $-4220M
2019-11-06 01:00 AM Balance of Trade Sep $-2409M $ -3880M
2019-12-10 01:00 AM Balance of Trade Oct $-4440M


Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -2408791.47 -3393114.68 1144700.00 -4415446.66 USD Thousand [+]
Current Account 566.76 -190.19 1810.97 -1409.65 USD Million [+]
Current Account to GDP -2.40 -0.70 5.80 -7.70 percent [+]
Imports 8659699.29 9567483.76 10724291.25 37084.30 USD Thousand [+]
Exports 6250907.82 6174369.08 6308844.59 23000.00 USD Thousand [+]
External Debt 78959.57 73097.87 79949.42 20893.00 USD Million [+]
Capital Flows 6.85 4.86 93.66 -35.31 USD Million [+]
Remittances 2589236.30 2580711.40 2849065.80 64208.00 USD Thousand [+]
Tourist Arrivals 719057.00 643780.00 766865.00 63628.00 [+]
Gold Reserves 197.93 197.90 274.42 126.89 Tonnes [+]
Terrorism Index 7.18 7.13 7.27 5.78 [+]
Foreign Direct Investment 543.00 430.00 2256.00 -396.00 USD Million [+]


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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-2408791.47 -3393114.68 1144700.00 -4415446.66 1957 - 2019 USD Thousand Monthly




Country Last Previous
Argentina 1168.00 Aug/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 14702.40 Aug/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -10860.00 Sep/19
Indonesia -160.50 Sep/19
Italy 2585.00 Aug/19
Japan -136.30 Aug/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3833.90 Sep/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -2490000.00 Jul/19
Switzerland 2881.00 Sep/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19


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