Exports from the Philippines grew by 0.4 percent year-on-year to USD 5.51 billion in April 2019, reversing from a downwardly revised 1.8 percent decline in March. It was the first increase in overseas sales in five months, as sales advanced for bananas (76.7%); gold (36.1%); machinery and transport equipment (28.5%); coconut oil (18.1%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (14.5%); and other manufactured products (4%). Also, sales of electronic products, the country's the country's top exports, increased by 3 percent. In contrast, sales fell for metal components (-27.2%), chemicals (-12.9%), and other mineral products (-11.9%). Among the Philippines' major trading partners sales advanced to the US (10.6%), China (20.4%), South Korea (46.5%), and Thailand (9.7%). In contrast, exports contracted to Japan (-2.4%), Hong Kong (-16.2%), Singapore (-25.2%), the ASEAN countries (-5.1%), and the EU countries (-9%). Exports in Philippines averaged 1634379.52 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 5850000.00 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 6090000.00 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.