The Philippines' trade deficit increased to USD 4.77 billion in April 2022 from USD 3.10 billion in the same month a year earlier, as exports rose much less than imports, amid weakening global demand due to the Ukraine war and persistent supply chain disruptions. Exports grew by 6.0 percent year-on-year to USD 6.13 billion while imports jumped 22.8 percent to USD 10.90 billion. For the first quarter of the year, the trade gap widened sharply to USD 18.67 billion from USD 11.44 billion in the corresponding period of 2021. source: Philippine Statistics Authority
Balance of Trade in Philippines averaged -511368.84 USD Thousand from 1957 until 2022, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -5273219 USD Thousand in December of 2021. This page provides the latest reported value for - Philippines Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Balance of Trade in Philippines is expected to be -3200000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Balance of Trade is projected to trend around -3200000.00 USD Thousand in 2023, according to our econometric models.