The Philippine's trade deficit widened to USD 3.76 billion in January of 2019 from USD 3.16 billion in the same month a year earlier. Exports contracted 1.7 percent from a year earlier to USD 5.28 billion, while imports rose by 5.8 percent to USD 9.03 billion. Balance of Trade in Philippines averaged -370480.56 USD Thousand from 1957 until 2019, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4080961.80 USD Thousand in October of 2018.
Balance of Trade in Philippines is expected to be -1510000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Philippines to stand at -2440000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -3480000.00 USD Thousand in 2020, according to our econometric models.