Imports to the Philippines increased by 5.8 percent year-on-year to USD 9.03 billion in January 2019, swinging from a downwardly revised 9.0 percent fall in December. Purchases rose for: cereals and cereal preparations (82.5 pct), transport equipment (33.6 pct), miscellaneous manufactured articles (15.8 pct), plastics in primary and non-primary form (11.1 pct), telecommunication equipment and electrical machinery (7.3 pct), industrial machinery and equipment (4.6 pct), and electronic products (4.1 pct). On the other hand, imports fell for: iron and steel (-8.7 pct); and mineral fuels, lubricants and related materials (-9.9 pct). Purchases from China, the Philippines's biggest supplier of imports, jumped 24.5 percent. In addition, imports rose from Thailand (11.7 pct), the ASEAN countries (8 pct), and the EU countries (22 pct). In contrast, imports fell from South Korea (-12.3 pct), Japan (-6.2 pct), and the US (-7.3 pct). Imports in Philippines averaged 1986661.11 USD Thousand from 1957 until 2019, reaching an all time high of 10320011.78 USD Thousand in October of 2018 and a record low of 37084.30 USD Thousand in February of 1963.
Imports in Philippines is expected to be 8870000.00 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 9210000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 9580000.00 USD Thousand in 2020, according to our econometric models.