Exports from the Philippines rose by 3.3 percent to USD 6.11 billion in October 2018, following an upwardly revised 0.8 percent rise in the previous month. Sales went up for: machinery and transport equipment (94.1 percent); bananas (30.9 percent); other manufactured goods (24.3 percent); miscellaneous manufactured articles (23.8 percent) and metal components (17.6 percent). Also, sales of electronic products, the country’s top exports, increased by 0.6 percent. In contrast, exports fell for: electronics equipment and parts (-11.8 percent); chemicals (-5.8 percent); and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-4.1 percent). Outbound shipments advanced to the US (18 percent); China (4.4 percent); Thailand (14.3 percent); and the ASEAN countries (9.2 percent). In contrast, outbound shipments declined to Hong Kong (-7.3 percent), Japan (-7.5 percent), and Singapore (-3.1 percent). Exports in Philippines averaged 1601556.41 USD Thousand from 1957 until 2018, reaching an all time high of 6183354.44 USD Thousand in August of 2018 and a record low of 23000 USD Thousand in October of 1957.
Exports in Philippines is expected to be 5830000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Philippines to stand at 5930000.00 in 12 months time. In the long-term, the Philippines Exports is projected to trend around 6100000.00 USD Thousand in 2020, according to our econometric models.