The Philippine's trade deficit decreased to USD 3.34 billion in November of 2019 from USD 4.07 billion in the same month a year earlier, as exports shrank 0.7 percent year-on-year to USD 5.59 billion, while imports dropped at a faster 8 percent to USD 8.94 billion. Considering the first eleven months of the year, the country posted a trade gap of USD 34.59 billion, with exports being flat over the corresponding period a year earlier, while import falling 4.6 percent. Balance of Trade in Philippines averaged -409186.57 USD Thousand from 1957 until 2019, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4415446.66 USD Thousand in October of 2018. source: National Statistics Office of Philippines

Balance of Trade in Philippines is expected to be -3800000.00 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 -3480000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -4060000.00 USD Thousand in 2020, according to our econometric models.

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Philippines Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-3341861.07 -3240253.49 1144700.00 -4415446.66 1957 - 2019 USD Thousand Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-10 01:00 AM Aug $-2409M $-3393M $-4220M
2019-11-06 01:00 AM Sep $-3119M $-2679M $ -3880M
2019-12-10 01:00 AM Oct $-3.25B $-3035M $-4440M
2020-01-10 01:00 AM Nov $-3.342B $-3.24B $-2.8B
2020-02-05 01:00 AM Dec $-3.342B $ -4.1B


News Stream
2019-12-10
Philippines Trade Gap Narrows in October
The Philippine's trade deficit declined to USD 3.25 billion in October of 2019 from USD 4.42 billion in the same month a year earlier, as exports edged higher 0.1 percent year-on-year to USD 6.32 billion, while imports tumbled 10.8 percent to USD 9.57 billion. Considering the first ten months of the year, exports were unchanged from the same period a year earlier while imports fell 4.3 percent, bringing a trade gap of USD 31.26 billion.

2019-11-06
Philippines Trade Gap Narrows in September
The Philippine's trade deficit narrowed to USD 3.12 billion in September of 2019 from USD 4.02 billion in the same month a year earlier, as exports fell 2.6 percent year-on-year to USD 5.90 billion, while imports tumbled 10.5 percent to USD 9.02 billion. Considering the first nine months of the year, exports shrank 0.1 percent from the same period a year earlier while imports declined at a faster 3.4 percent, bringing a trade gap of USD 28.09 billion.

2019-10-10
Philippines Trade Gap Narrows in August
The Philippine's trade deficit narrowed to USD 3.41 billion in August of 2019 from USD 3.60 billion in the same month a year earlier, as exports rose 0.6 percent year-on-year while imports tumbled 11.8 percent. Considering the first eight months of the year, exports edged up 0.1 percent from a year earlier while imports declined 2.8 percent, recording a USD 24.70 billion trade gap.

2019-09-10
Philippines Trade Gap Narrows in July
The Philippine's trade deficit narrowed to USD 3.39 billion in July of 2019 from USD 4.02 billion in the same month a year earlier, as exports rose 3.5 percent year-on-year while imports fell 4.2 percent. Considering the first seven months of the year, exports edged up 0.1 percent from a year earlier while imports declined 1.5 percent, recording a USD 22.29 billion trade gap.

2019-08-07
Philippines Posts Smallest Trade Gap in 15 Months
The Philippine's trade deficit narrowed to USD 2.47 billion in June of 2019 from USD 3.55 billion in the same month a year earlier. This was the smallest trade gap since March last year, as exports rose 1.5 percent year-on-year while imports tumbled 10.4 percent. Considering the first half of the year, exports fell 0.8 percent from a year earlier while imports declined at faster 1.0 percent, recording a USD 19 billion trade gap.

2019-07-10
Philippines Trade Gap Narrows in May
The Philippine's trade deficit narrowed to USD 3.28 billion in May of 2019 from USD 3.88 billion in the same month a year earlier, as exports rose 1 percent year-on-year while imports declined 5.4 percent. Considering the first five months of the year, exports fell 1.3 percent from a year earlier while imports increased 1.0 percent, recording a USD 16.51 billion trade gap.


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.

Philippines Trade Last Previous Highest Lowest Unit
Balance of Trade -3341861.07 -3240253.49 1144700.00 -4415446.66 USD Thousand [+]
Current Account -81.51 664.11 1810.97 -1409.65 USD Million [+]
Current Account to GDP -2.40 -0.70 5.80 -7.70 percent [+]
Imports 8938342.63 9567715.99 10724291.25 37084.30 USD Thousand [+]
Exports 5596481.56 6327462.51 6327462.51 23000.00 USD Thousand [+]
External Debt 78959.57 73097.87 79949.42 20893.00 USD Million [+]
Capital Flows 5.70 5.70 93.66 -35.31 USD Million [+]
Remittances 2372398.50 2671198.90 2849065.80 64208.00 USD Thousand [+]
Tourist Arrivals 638549.00 606553.00 766865.00 63628.00 [+]
Gold Reserves 197.93 197.93 274.42 126.89 Tonnes [+]
Terrorism Index 7.14 7.18 7.27 5.78 [+]
Foreign Direct Investment 672.00 566.00 2256.00 -396.00 USD Million [+]