Exports from the Philippines dropped by 0.2 percent year-on-year to USD 5.77 billion in December 2020, after an upwardly revised 4.0 percent growth in November, amid weakening global demand due to the coronavirus pandemic. Sales shrank the most for cathodes and sections of cathodes (-21.0%), followed by machinery and transport equipment (-11.1%) and gold (-0.5%). Conversely, exports rose for other mineral products (47.1%), coconut oil (40.4%), ignition wiring sets and other wiring sets used in vehicles, aircraft, and ships (12.9%), metal components (19.8%), chemicals (9.1%), electronic products (4.9%) and other manufactured products (1.9%). Shipments declined to Singapore (-17.3%), South Korea (-10.8%), Japan (-4.7%), China (-3.0%) and the EU (-7.1%). Meanwhile, exports rose to the US (1.2%), Thailand (12.4%), Germany (12.1%), Taiwan (10.1%), and the ASEAN countries (2.9%). For the full year of 2020, exports fell 10.1% from a year earlier, after a 2.3% rise in 2019. source: National Statistics Office of Philippines
Exports in Philippines averaged 1733957.57 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 February of 2021.
Exports in Philippines is expected to be 4930000.00 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 4960000.00 in 12 months time. In the long-term, the Philippines Exports is projected to trend around 4960000.00 USD Thousand in 2022, according to our econometric models.