Imports to the Philippines grew by 24.0% yoy to a 22-month high of USD 9.71 billion in July 2021, after an upwardly revised 43.4% jump in the previous month, as domestic demand recovered further following an acceleration in COVID-19 vaccinations. Arrivals continued to rise for mineral fuels, lubricants, and related materials (84.9%), iron & steel (62.9%), transport equipment (59.7%), medicinal and pharmaceutical products (53.4%), plastics in primary and non-primary forms (34.7%), other food and live animals (28.3%), telecommunication equipment and electrical machinery (18.7%), and electronic products (11.3%). In contrast, purchases of miscellaneous manufactured articles dropped 0.8%. Imports rose from China (22.1%), Japan (10.3%), South Korea (7.8%), Indonesia (7.1%), the US (5.7%), Indonesia (58.9%), Singapore (6.3%), Thailand (5.7%), the ASEAN countries (27.6%), and the EU (5.9%). Considering the first seven months of the year, arrivals climbed 30.2% from the same period of 2020. source: National Statistics Office of Philippines
Imports in Philippines averaged 2249160.05 USD Thousand from 1957 until 2021, reaching an all time high of 10724291.25 USD Thousand in October of 2018 and a record low of 37084.30 USD Thousand in February of 1963. This page provides the latest reported value for - Philippines Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Imports - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.
Imports in Philippines is expected to be 9500000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Imports is projected to trend around 8500000.00 USD Thousand in 2022, according to our econometric models.