Imports to the Philippines fell 9.1 percent year-on-year to USD 7.92 billion in December 2020, following a revised 18.3 percent slump a month earlier, as domestic demand weakened further due to the ongoing COVID-19 disruption. Purchases decreased the most for: mineral fuels, lubricants and related materials (-50.8%), followed by transport equipment (-34.8%), industrials machinery and equipment (-21.7%), metal products (-17.4%), miscellaneous manufactured articles (-5.0%) and telecommunication equipment and electrical machinery (-4.0%). By contrast, purchases increased for: iron & steel (25.4%), preparations (7.9%), and electronic products (7.6%) and other food and live animals (1.9%). Purchases decreased from China (-7.2%), the US (-11.5%), South Korea (-26.2%), the EU (-41.1%) and the ASEAN countries (-1.5%). By contrast, purchases increased from Japan (1.8%) and Indonesia (3.4%). For 2020 full year, imports plunged 23.3% year-on-year, following an 1.1% fall in 2019. source: National Statistics Office of Philippines

Imports in Philippines averaged 2169503.33 USD Thousand from 1957 until 2020, 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 March of 2021.

Imports in Philippines is expected to be 7900000.00 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 9020000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 9320000.00 USD Thousand in 2022, according to our econometric models.

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Philippines Imports

Actual Previous Highest Lowest Dates Unit Frequency
7918690.00 7575870.00 10724291.25 37084.30 1957 - 2020 USD Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-11-04 01:00 AM Sep -16.5% -21.3%
2020-12-10 01:00 AM Oct -19.5% -15.3%
2021-01-08 01:00 AM Nov -18.9% -18.8%
2021-01-27 01:00 AM Dec -9.1% -18.3%


News Stream
Philippines Imports Drop the Least in 11 Months
Imports to the Philippines fell 9.1 percent yoy to USD 7.92 billion in December 2020,the least since January, following a revised 18.3 percent slump a month earlier, as domestic demand weakened further due to the ongoing COVID-19 disruption. Purchases decreased the most for: mineral fuels, lubricants and related materials (-50.8%), followed by transport equipment (-34.8%), industrials machinery and equipment (-21.7%), metal products (-17.4%), miscellaneous manufactured articles (-5.0%) and telecommunication equipment and electrical machinery (-4.0%). By contrast, purchases increased for: iron & steel (25.4%), preparations (7.9%), and electronic products (7.6%) and other food and live animals (1.9%). Purchases decreased from China (-7.2%), the US (-11.5%), South Korea (-26.2%), the EU (-41.1%) and the ASEAN countries (-1.5%). By contrast, purchases increased from Japan (1.8%) and Indonesia (3.4%). For 2020 full year, imports plunged 23.3% year-on-year, following an 1.1% fall in 2019.
2021-01-27
Philippines Imports Tumble 18.9% YoY
Imports to the Philippines plunged 18.9 percent year-on-year to USD 7.52 billion in November 2020, following a 15.8 percent drop a month earlier, as domestic demand weakened further due to the ongoing COVID-19 disruption. Purchases declined for all components: transport equipment (-42.7%), industrials machinery and equipment (-32.6%), mineral fuels, lubricants and related materials (-30.2%), other food and live animals (-25.5%), miscellaneous manufactured articles (-24.6%), plastics in primary and non-primary forms (-23.8%), iron & steel (-13.6%), telecommunication equipment and electrical machinery (-12.8%), metal products (-12.6%), and electronic products (-0.1%). Purchases declined from China (-6.2%), Japan (-20.9%), the US (-21.3%), South Korea (-9%), Indonesia (-7%), Singapore (-20.9%), Thailand (-36.2%), Taiwan (-18.9%), Hong Kong (-19.5%), the ASEAN countries (-15.6%), and the EU (-28.6%). By contrast, imports rose from Malaysia (7.2%) and India (2.9%).
2021-01-08
Philippines Imports Extend Double Digit Falls
Imports to the Philippines plunged 19.5 percent year-on-year in October 2020, following a downwardly revised 15.3 percent drop a month earlier, amid weakening domestic demand due to the ongoing COVID-19 crisis. Purchases declined the most for transport equipment (-53.6%), followed by mineral fuels, lubricants and related materials (-49.9%), industrial machinery & equipment (-28.8%), miscellaneous manufactured articles (-26.9%), plastics in primary and non-primary forms (-18.1%), other food and live animals (-15.7%), and iron and steel (-14.1%). Purchases declined from China (-11.3%), Japan (-8.8%), the US (-8.9%), South Korea (-17.7%), Indonesia (-16.5%), Singapore (-20.4%), Thailand (-29.4%), Taiwan (-9.6%), Malaysia (-12.8%), Hong Kong (-26.6%), the ASEAN countries (-19.6%), and the EU (-45.3%). By contrast, imports from India edged up (0.3%).
2020-12-10
Philippines Imports Extend Double Digit Falls
Imports to the Philippines fell by 16.5 percent year-on-year to USD 7.92 billion in September 2020, following a downwardly revised 21.3 percent slump a month earlier, amid weakening domestic demand due to the ongoing COVID-19 crisis. Purchases declined for transport equipment (-53%), mineral fuels, lubricants and related materials (-51.4%), industrial machinery & equipment (-23.3%), miscellaneous manufactured articles (-23%), iron and steel (-10.7%), and other food & live animals (-4.7%). In contrast, imports rose for both telecommunication equipment and electrical machinery (2.6%) and electronic products (2.4%). Purchases shrank from China (-9.5%), Japan (-20.9%), Hong Kong (-17.4%), South Korea (-1.7%), the US (-10.1%), Indonesia (-6.2%), Singapore (-12.9%), Thailand (-28%), the ASEAN countries (-14.5%), and the EU (-31.3%). By contrast, imports from India rose (2.6%).
2020-11-04

Philippines Imports
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines's main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).

United Nations Comtrade Database
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