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.