The Philippines' trade deficit decreased to USD 2.18 billion in December 2020 from USD 2.97 billion in the same month a year earlier. Exports fell by 0.2 percent year-on-year to USD 5.74 billion, while imports dropped at a faster 9.1 percent to USD 7.92 billion. Considering 2020 full year, the trade deficit narrowed sharply to USD 21.84 billion from USD 40.67 billion in the same period of 2019. source: National Statistics Office of Philippines
Balance of Trade in Philippines averaged -438659.34 USD Thousand from 1957 until 2020, 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. This page provides the latest reported value for - Philippines Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Balance of Trade in Philippines is expected to be -3480000.00 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 -3480000.00 USD Thousand in 2022 and -4360000.00 USD Thousand in 2023, according to our econometric models.