The Philippines' trade deficit decreased to USD 2.38 billion in March 2020 from USD 3.33 billion in the same month a year earlier. Year-on-year, exports slumped 24.9 percent to USD 4.53 billion, while imports tumbled 26.2 percent to USD 6.91 billion. Considering the first three months of the year, the country posted a trade surplus of USD 2.82 billion, narrowing from a USD 3.67 billion in the corresponding period of 2019.
Balance of Trade in Philippines averaged -425017.26 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 May of 2020. source: National Statistics Office of Philippines
Balance of Trade in Philippines is expected to be -2350000.00 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 -4190000.00 in 12 months time. In the long-term, the Philippines Balance of Trade is projected to trend around -3480000.00 USD Thousand in 2021 and -4060000.00 USD Thousand in 2022, according to our econometric models.