Exports from the Philippines declined by 0.9 percent to USD 5.18 billion in February 2019, following an upwardly revised 6.7 percent fall in January, reaching the third straight month of drop. Sales decreased the most for metal components (-27.8 pct), followed by gold (-18.4 pct); machinery and transport equipment (-16.7 pct); other manufactured goods (-12.6 pct); and ignition wiring set and other wiring sets used in vehicles, aircrafts and ship (-3.6 pct). In contrast, sales of electronic products, the country's top exports grew by 0.8 percent. Also, exports rose for: bananas (54.6 pct); cathodes & sections of cathodes, or refined copper (41.3 pct); miscellaneous manufactured articles, not elsewhere specified (21.1 pct), and chemicals (0.01 pct). Exports fell to Singapore (-32.2 pct), Hong Kong (-1.7 pct), and the ASEAN countries (-14.6 pct). Conversely, sales advanced to the US (13.6 pct), China (10.5 pct), and Japan (0.8 pct). Exports in Philippines averaged 1623393.39 USD Thousand from 1957 until 2019, reaching an all time high of 6308844.59 USD Thousand in October of 2018 and a record low of 23000 USD Thousand in October of 1957.
Exports in Philippines is expected to be 5690000.00 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 5500000.00 in 12 months time. In the long-term, the Philippines Exports is projected to trend around 6100000.00 USD Thousand in 2020, according to our econometric models.