Exports from the Philippines declined 12.3 percent year-on-year to USD 4.72 billion in December 2018, far faster than a 0.3 percent fall in the previous month and marking the second straight month of drop. Sales of electronic products, the country's top exports, contracted 15.2 percent. Also, exports fell for: machinery and transport equipment (-53.1 percent), coconut oil (-24.8 percent), and other manufactured goods (-9 percent). In contrast, sales rose for: bananas (296.1 percent); processed food and beverages (61.8 percent); miscellaneous manufactured articles (27.6 percent); ignition wiring set and other wiring set used in vehicles, aircrafts and ship (23.1 percent); metal components (14.5 percent); and chemicals (6.7 percent). Outbound shipments fell to Japan (-1.2 percent), Hong Kong (-17 percent), China (-11 percent), Singapore (-19 percent), the ASEAN countries (-5 percent), and and the EU countries (-27.1 percent). Conversely, sales grew to the US (9.9 percent). Exports in Philippines averaged 1601556.41 USD Thousand from 1957 until 2018, reaching an all time high of 6183354.44 USD Thousand in August of 2018 and a record low of 23000 USD Thousand in October of 1957.
Exports in Philippines is expected to be 5830000.00 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 5930000.00 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.