Philippines Balance Commerciale

The Philippines’ trade deficit narrowed to USD 4.05 billion in July 2025, compared with USD 4.88 billion in the same month last year. Exports jumped 17.3% year-on-year to USD 7.34 billion, supported by higher sales of electronic products (20.7%), other mineral products (133.1%), machinery and transport equipment (29.3%), gold (100.3%). The US accounted for the largest share of exports (15.8%), even as it imposed a 19% tariff on Philippine goods starting late July. Other major export destinations included Hong Kong (15.2%), Japan (13.6%), and China (11.3%). Meanwhile, imports increased 2.3% to USD 11.38 billion, led by higher purchases of electronic products (10.2%), miscellaneous manufactured articles (19.3%), and telecommunication equipment (24.1%). China remained the top import source, making up 29.9% of total imports, followed by South Korea (8.9%), Indonesia (7.9%), and Japan (7.4%). From January to July, the trade gap narrowed to USD 28.46 billion from USD 29.93 billion in 2024.