Imports to the Philippines rose 47.7 percent year-on-year to USD 8.65 billion in May 2021, easing sharply from an upwardly revised 152.8 percent growth in the previous month, amid moderating domestic demand following COVID-19 restrictions. Sales were mainly higher for mineral fuels, lubricants, and related materials (301.6 percent), iron and steel (111.3 percent), miscellaneous manufactured articles (80.4 percent), and transport equipment (66.7 percent). By contrast, purchases of cereals and cereal preparations plunged by 30.8 percent. Purchases rose from China (75.6 percent), Japan (58.2 percent), the US (8.1 percent), Indonesia (87.6 percent), Thailand (127.4 percent), the EU (3.6 percent), and the ASEAN countries (75.0 percent). On the other hand, imports from South Korea fell 7.2 percent. Considering the first five months of the year, arrivals gained 27.6% from the same period of 2020. source: National Statistics Office of Philippines
Imports in Philippines averaged 2217015.61 USD Thousand from 1957 until 2021, reaching an all time high of 10724291.25 USD Thousand in October of 2018 and a record low of 37084.30 USD Thousand in February of 1963. This page provides the latest reported value for - Philippines Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Imports - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.
Imports in Philippines is expected to be 8150000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Philippines to stand at 8500000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 8500000.00 USD Thousand in 2022, according to our econometric models.