Philippines Exports Growth Hits 13-Month High

Exports from the Philippines jumped by 15.1% year-on-year to USD 7.3 billion in May 2025, accelerating from an upwardly revised 7.6% increase in the previous month.

This marked the sharpest growth in outbound shipments since April 2024, driven by a surge in sales of other manufactured goods (+122.7%), coconut oil (+55.4%), and gold (+48.9%).

Electronic products, the largest export component, rose modestly by 0.9%.

Among trading partners, the US accounted for the largest share of exports (15.3%), with annual export growth of 3.6%, despite the 17% US tariff on Philippine goods.

Exports also grew to Singapore (+26.5%), Hong Kong (+22.6%), and Japan (+17.9%).

Meanwhile, shipments fell to China (-12.4%) and Thailand (-6.4%).

Considering the January to May period, exports climbed 10.8% to USD 34.2 billion compared to the same period last year.