Imports to the Philippines plummeted 26.2% yoy to USD 6.91 billion in March 2020, after a 11.62% fall in the previous month. Purchases fell for all major commodities: industrial machinery (-39.4%), telecommunication equipment (-37.1%), miscellaneous manufactured articles (-32.9%), mineral fuels, lubricants and related materials (-32.2%), plastics in primary and non-primary forms (-24.9%), other food and live animals (-20.5%), electronic products (-19.3%), cereals and cereal preparations (-19.1%), transport equipment (-17.3%), and oron & steel (-14.2%). By country, arrivals shrank from China (-31.4%), Japan (-29.7%), South Korea (-25.2%), the US (-29.5%), Thailand (-20.6%), the ASEAN countries (-20.4%), and the EU (-23.2%). In contrast, imports grew fromTaiwan (3.3%), Malaysia (0.5%), and Russia (18%).
Imports in Philippines averaged 2120992.38 USD Thousand from 1957 until 2020, reaching an all time high of 10724291.25 USD Thousand in October of 2018 and a record low of 37084.30 USD Thousand in February of 1963. This page provides the latest reported value for - Philippines Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Imports - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: National Statistics Office of Philippines
Imports in Philippines is expected to be 8500000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Philippines to stand at 8940000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 9020000.00 USD Thousand in 2021, according to our econometric models.