Philippine Exports Growth Slows in July

Philippine exports climbed by 27.8% year-on-year to USD 9.1 billion in August 2026, marking the strongest growth since April 2024 and accelerating from a slightly upwardly revised 10.9% increase in the previous month. Electronic products remained the top export commodity, accounting for 68.1% of total shipments and rising 59.9%, led by semiconductor components (+73.5%), office equipment (+73.3%), and consumer electronics (+111.4%). Outbound sales also increased for gold (+15%) and bananas (+7%). In contrast, exports declined for other manufactured goods (-14.4%) and machinery and transport equipment (-26%). Among major trading partners, exports to the US, the largest market accounting for 23.8% of total shipments, surged by 94.6%. Shipments also increased from Hong Kong (+30.5%), China (+22.9%), Taiwan (+76.5%), and Singapore (+69.2%). Considering the first eight months of the year, total exports grew by 14.8% to USD 64 billion.

Philippine exports grew by 10.8% year-on-year to USD 8.1 billion in July 2026, slowing from an upwardly revised and one-year high of 25% increase in the previous month. The softer growth was largely driven by lower outbound sales of other mineral products (-30.3%), ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-10.3%), chemicals (-18.3%), and bananas (-13%). These declines were partially offset by stronger shipments in electronic products, which remained the top export commodity, accounting for 58.8% of total exports and rising 22.2%, led by semiconductor components (26.1%). Among major trading partners, exports to the US, the largest market accounting for 18.5% of total shipments, grew by 45.1%, followed by Hong Kong (+15.4%), China (+9.7%), Singapore (+29.8%), and Taiwan (+14.6%), while Japan and Netherlands decreased 14.1% and 9.8%, respectively. For the January-July period, total exports grew 12.9% to USD 54.9 billion.

Philippine exports jumped by 24.1% year-on-year to a new all-time high of USD 8.8 billion in June 2026, marking the strongest growth since June last year and accelerating from an upwardly revised 8.6% rise in the previous month. Electronic products remained the top export commodity, accounting for 59.9% of total shipments and rising 35.2%, led by semiconductor components (+38.2%), office equipment (+123.4%), consumer electronics (+335.2%), and communication/radar (+93.9%). Outbound sales also increased sharply for machinery and transport equipment (+28.6%), gold (+43.8%), coconut oil (+12%), and electronic equipment and parts (+95.7%). Among key trading partners, exports to the US, the largest market accounting for 18.1% of total shipments, grew by 44.7%%, followed by Hong Kong (+25.2%), China (+34.3%), Singapore (+62.6%), and Taiwan (32.8%), while Japan recorded the smallest growth of 1.4%. For the January-June period, total exports grew 13.1% to USD 46.7 billion.