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.

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Philippines Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-2380460.00 -1656180.00 1144700.00 -4415446.66 1957 - 2020 USD Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-02-11 01:00 AM Dec $-2.478B $-3.323B $ -4.1B
2020-03-10 01:00 AM Jan $-3.499B $-2.469B $-2.1B
2020-04-08 01:00 AM Feb $-1.656B $-3.504B $-3.3B
2020-05-06 01:00 AM Mar $-2.38B $-1.656B $ -3B
2020-06-10 01:00 AM Apr $-2.38B $-4.1B
2020-07-10 01:00 AM May
2020-08-05 01:00 AM Jun $ -2.4B
2020-09-10 01:00 AM Jul


News Stream
Philippines Trade Gap Narrows in March
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.
2020-05-06
Philippines Trade Gap Smallest Since July 2017
The Philippines' trade deficit decreased to USD 1.66 billion in February 2020 from USD 2.73 billion in the same month a year earlier. This was the smallest trade gap since July 2017, as exports grew by 2.8 percent year-on-year while imports slumped 11.6 percent. Considering the first two months of the year, the trade surplus narrowed to USD 5.2 billion from USD 7 billion in the corresponding period of 2019.
2020-04-08
Philippines Trade Gap Narrows
The Philippine's trade deficit fell to USD 3.50 billion in January 2020 from USD 3.92 billion in the same month a year earlier. Year-on-year, exports grew 9.7 percent to USD 5.79 billion, while imports rose at a softer 1 percent to USD 9.29 billion.
2020-03-10
Philippines Trade Gap Narrows in December
The Philippine's trade deficit decreased to USD 2.48 billion in December of 2019 from USD 4.17 billion in the same month a year earlier, as exports surged while imports shrank. Year-on-year, exports soared 21.4 percent to USD 5.74 billion, while imports contracted 7.6 percent to USD 8.22 billion. Considering the whole the year, trade gap narrowed to USD 37.05 billion from USD 43.53 in, as exports grew 1.5 percent while imports dropped 4.8 percent.
2020-02-11

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.