Philippines Balance Commerciale

The Philippines’ trade deficit narrowed to USD 3.5 billion in April 2025 from USD 4.7 billion in the same month last year, as exports rose while imports fell. Year-on-year, exports climbed by 7% to USD 6.7 billion, driven by higher sales of other manufactured goods (143.8%), metal components (26.9%), and bananas (25.4%). The US accounted for the largest share of exports (15.9%), followed by Japan (13.2%), Hong Kong (13.2%), and China (10.4%). Meanwhile, imports dropped by 7.2% to USD 10.2 billion, mainly due to reduced purchases of mineral fuels, lubricants and related materials (-35.1%), iron and steel (-25.3%), and cereals and cereal preparations (-17.8%). China remained the top import source, accounting for 28.2% of total imports, followed by Japan (8.3%), Indonesia (8%), and South Korea (7.4%). Considering the first four months of the year, the trade deficit slightly decreased to USD 15.9 billion , compared to USD 16 billion in the corresponding period of the previous year.