Philippine Exports Growth Hits 8-Month Low

Philippine exports rose 6.3% year-on-year to USD 7.2 billion in April 2026, sharply easing from an upwardly revised 20.8% jump in the previous month. This marks the softest growth since August last year, as electronic products grew only 1.2%, with the surge in consumer electronics exports (+206.3%) partially offset by declines in semiconductors (-4.7%) and electronic data processing (-1.9%). Outbound shipments also increased for other mineral products (+55.4%), machinery and transport equipment (+79.6%), coconut oil (+69.3%), and gold (+73.7%). Among key partners, exports to the US, the largest market accounting for 18.0% of total shipments, rose 25.7%. Sales also increased from China (+32.0%), Japan (+2.2%), and Singapore (+27.0%). In the January–April period, total exports grew 11.2% to USD 29.9 billion compared with the corresponding period last year.

Philippine exports climbed by 20.4% year-on-year to an all-time high of USD 8.2 billion in March 2026, accelerating from an upwardly revised 8.9% rise in the previous month. Electronic products remained the top export commodity, rising 33% and accounting for 59% of total shipments, led by semiconductor components (+38.2%), consumer electronics (+73.5%), and telecommunications (+80.4%). Outbound sales also increased sharply for machinery and transport equipment (+70.6%), other mineral products (+55.7%), and gold (+84%), partially offset by declines in other manufactured goods (-29.6%) and coconut oil (-30.4%). Among key trading partners, exports to the US, the largest market accounting for 17.7% of total shipments, rose 17.7%, followed by Hong Kong (+28.7%), China (+23.5%), Taiwan (+52%), and Singapore (+34.1%), while Japan (-0.6%) was the only major destination to record a decline. For January–March, total exports increased 12.7% to USD 22.7 billion.

Philippine exports rose 8% year-on-year to USD 7.3 billion in February 2026, easing from a revised 8.7% growth in January and marking the slowest increase in six months. Electronic products remained the top export commodity, rising 20.5% and accounting for 57.7% of total shipments, led by semiconductor components (+26.9%) and telecommunication products (+54.3%). Machinery and transport equipment (+47.7%) and gold (+132.2%) also posted strong growth, partially offset by declines in other manufactured goods (-64.0%) and coconut oil (-5.8%). Among key trading partners, exports to the US, the largest market at 19.3% of total, surged 42.9%. Sales also rose to Hong Kong (+33.1%), South Korea (+33.7%), Germany (+16.1%), and Taiwan (+24.5%), while exports to China (-0.4%) and the Netherlands (-5.8%) softened. For January–February, total exports increased 8.3% to USD 14.47 billion.