Exports from the Philippines fell 0.7 percent year-on-year to USD 5.59 billion in November 2019, shifting from an upwardly revised 0.3 percent growth in the previous month. Sales contracted for ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-23.7%), machinery and transport equipment (-21.7%), and electronic equipment and parts (-20.5%). In contrast, exports grew for other mineral products (74.9%), other manufactured goods (41.5%), cathodes and section of cathodes, of refined copper (36%), bananas (11.1%), metal components (3%), and chemicals (0.1%). Electronic products, the country's top sales, rose 1.4%. By country, sales dropped to the US (-0.4%), South Korea (-16.5%), Taiwan (-17%), Netherlands (-22.1%), the ASEAN countries (-5.4%) and the EU (-8.4%) Conversely, exports were up to Japan (4.9%), Hong Kong (6.7%), China (2.9%), Singapore (4.9%), Thailand (11.9%) and Germany (8.4%). Exports in Philippines averaged 1675708.18 USD Thousand from 1957 until 2019, reaching an all time high of 6327462.51 USD Thousand in October of 2019 and a record low of 23000 USD Thousand in October of 1957. source: National Statistics Office of Philippines
Exports in Philippines is expected to be 6090000.00 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 4750000.00 in 12 months time. In the long-term, the Philippines Exports is projected to trend around 4960000.00 USD Thousand in 2020, according to our econometric models.