Philippine Imports Rebound Sharply in January

Philippine imports grew by 12.6% year-on-year to USD 11 billion in February 2026, rebounding sharply from a downwardly revised 1% fall in the previous month. This also marked the sharpest rise in imports since June last year, driven by higher purchases of electronic products (39.3%), particularly medical/industrial instrumentation (58.6%), communication/radar (49.7%), and semiconductors (44.6%). Arrivals also increased for telecommunication equipment and electrical machinery (58.6%), metal products (32.2%), and miscellaneous manufactured articles (23.6%). Among the country’s largest trading partners, China remained the top supplier, accounting for 28.8% of total imports, with imports rising 24%. Inbound shipments also climbed from South Korea (99%), Taiwan (23.6%), and Singapore (11.3%). For the first two months of the year, imports grew by 5.3% to USD 22.4 billion compared to the same period a year ago.

Philippine imports fell by 3.1% year-on-year to USD 11.1 billion in January 2026, slipping from an upwardly revised six-month high of 12.2% growth in the previous month. This marked the steepest decline since November 2024, mainly due to lower purchases of mineral fuels, lubricants and related materials (-25%), industrial machinery and equipment (-12.2%), and iron and steel (-19.7%). Conversely, arrivals rose for electronic products (18.6%), particularly medical/industrial instrumentation and semiconductors. Inbound shipments also increased for cereals and cereal preparation (20%) and metal products (17.6%). Among the country’s largest trading partners, China remained the top supplier, accounting for 29.2% of total imports, though arrivals fell by 1.7% from a year earlier. Imports also declined across nearly all key partners, particularly from Indonesia (-11.5%), Thailand (-14.4%), and Singapore (-14%)

Philippine imports rose by 7.1% yeear-on-year to USD 10.5 billion on December 2025, from an upwardly revised 2.3% gain in the previous month. It marked the strongest annual growth since June, driven primarily by higher purchases of electronic products (25.8%), particularly components/devices, electronic data processing equipment, and telecommunications. Imports also increased for mineral fuels, lubricants, and related materials (6.3%), transport equipment (7%), and industrial machinery and equipment (1%). However, decreases were observed in other food and live animals (-4.1%) and cereals and cereal preparations (-29%). Among the country’s largest trading partners, China remained the top supplier, accounting for 28.4% of total imports. Other major sources included the Republic of Korea (9.8%), Indonesia (6.8%), Japan (6.8%), and the United States (6.3%). For the full year of 2025, total imports reached USD 133.6 billion, a 4.7% increase compared to 2024.