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.

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Philippines Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2022-05-06 01:00 AM Mar $-5.003B $-4.172B $ -3.7B
2022-06-09 01:00 AM Apr $-4.773B $-5.007B $-4.8B
2022-07-12 01:00 AM May $-4.773B


Related Last Previous Unit Reference
Balance of Trade -4773150.00 -5003930.62 USD Thousand Apr 2022
Imports 10901725.57 12174867.92 USD Thousand Apr 2022
Exports 6128575.95 7170937.30 USD Thousand Apr 2022

Philippines Balance of Trade
Philippines has been running annual trade deficits due to high imports of raw materials and intermediate goods. In 2013, the biggest trade deficits were recorded with: Taiwan, Saudi Arabia, Thailand and South Korea while the biggest trade surpluses with: Japan, Hong Kong and the United States.
Actual Previous Highest Lowest Dates Unit Frequency
-4773150.00 -5003930.62 1144700.00 -5273219.00 1957 - 2022 USD Thousand Monthly

News Stream
Philippines Trade Gap Widens
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.
2022-06-09
Philippines Trade Gap Largest in 3 Months
The Philippines' trade deficit increased to USD 5 billion in March 2022 from USD 2.76 billion in the same month a year earlier. This was the largest trade deficit since last December, as exports rose less imports, amid weakening global demand due to the Ukraine war and supply disruptions. Exports grew by 5.9 percent year-on-year to USD 7.17 billion while imports rose at a faster 27.7 percent to USD 12.17 billion. For the first quarter of the year, the trade gap widened sharply to USD 13.89 billion from USD 8.34 billion in the corresponding period of 2021.
2022-05-06
Philippines Trade Gap Widens
The Philippines' trade deficit increased to USD 3.53 billion in February 2022 from USD 2.71 billion in the same month a year earlier, as exports grew by 15.0 percent year-on-year to USD 6.16 billion while imports expanded 20.1 percent to USD 9.69 billion. Considering the first two month of the year, the trade gap widened to USD 8.23 billion from USD 5.59 billion in the corresponding period of 2021.
2022-04-08