Exports from the Philippines fell by 13.3% yoy to USD 5.33 billion in June 2020, after a downwardly revised 26.9% plunge in May. Sales fell for most categories: metal coponentgs (-30.5%); coconut oil (-29.7%); machinery and transport equipment (-26.3%); ignition wiring sets and other wiring sets used in vehicles, aircraft and ships (-25.8%), bananas (-17.4%); other manufactured goods (-16.9%), cathodes and sections of cathodes (-10.4%). Exports of electronic products, the country's top sales, also shrank -10.4%.In contrast, sales rose for both other mineral products (59.5%), and chemicals (3.3%). Shipments contracted to Japan (-9.3%), Hong Kong (-6.9%), the US (-23.6%), Singapore (-5.2%), South Korea (-21.7%), Taiwan (-4.3%), the ASEAN countries (-11.5%), and the EU (-23.7%).On the other hand, sales to China grew by 2.8%.
Exports in Philippines averaged 1705979.52 USD Thousand from 1957 until 2020, reaching an all time high of 6341727.87 USD Thousand in October of 2019 and a record low of 23000 USD Thousand in October of 1957. This page provides - Philippines Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news. Philippines Exports - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: National Statistics Office of Philippines
Exports in Philippines is expected to be 3950000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in Philippines to stand at 5150000.00 in 12 months time. In the long-term, the Philippines Exports is projected to trend around 4960000.00 USD Thousand in 2021, according to our econometric models.