Philippine Imports Fall at Softer Pace

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.

Philippine imports fell by 2% year-on-year to USD 10.4 billion in November 2025, slowing from a downwardly revised 3% drop in the previous month. The softer decline was driven by growth in electronic products (16.6%), particularly semiconductors (28.5%) and electronic data processing (1.5%). Imports also rose for transport equipment (20.7%) and iron and steel (11.1%). These gains offset decreases in mineral fuels, lubricants, and related materials (-18.9%), other food and live animals (-1.8%), and telecommunication equipment and electrical machinery (-7.7%). Among the country’s largest trading partners, China remained the top supplier (28.7% share), with imports rising 2.8%. However, imports from Japan (-2.9%), Indonesia (-16%), and the US (-2.1%) declined. For the January to November period, the country's imports increased to USD 122.6 billion from USD 117.6 billion in the same period a year earlier.

Philippine imports fell 6.5% year-on-year to USD 11.2 billion in October 2025, reversing an upwardly revised 5.1% rise in the previous month. This marks the sharpest drop since June 2024, mainly driven by lower purchases of transport equipment (-27.5%) and mineral fuels, lubricants, and related products (-19.6%). Imports also declined for cereals (-41.8%), telecommunications equipment and electrical machinery (-10.7%), and miscellaneous manufactured articles (-8.6%). Conversely, arrivals rose for electronic products (+10.6%), iron and steel (+26.1%), and metal products (+14.4%). Imports fell across nearly all key partners, particularly from Vietnam (-27.7%), South Korea (-21.7%), Indonesia (-21.5%), Singapore (-16.6%), and the US (-8.5%). For the January–October period, imports grew 4.3% to USD 111.75 billion compared with the same period last year.