Imports to the Philippines increased by 2.6 percent year-on-year to USD 7.97 billion in February 2019 from a downwardly revised 3.6 percent rise in January. Purchases rose for transport equipment (30 pct); cereals and cereal preparations (28.4 pct); mineral fuels, lubricants and related materials (15.5 pct); other food and live animal (9.6 pct); and telecommunication equipment, and electrical machinery (7.6 pct). On the other hand, imports fell for iron and steel (-16.6 pct); miscellaneous manufactured articles (-10.4 pct); industrial machinery and equipment (-7.1 pct); electronic products (-4.1 pct); and plastics in primary and non-primary form (-1.3 pct). Purchases from China, the Philippines's biggest supplier of imported goods, rose 6 percent, followed by Japan (7.2 pct), the ASEAN countries (1.7 pct), and the EU (49.3 pct). By contrast, imports fell from South Korea (-13.8 pct), Thailand (-11.7 pct), and the US (-4.6 pct). Imports in Philippines averaged 2000141.35 USD Thousand from 1957 until 2019, 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.
Imports in Philippines is expected to be 8780000.00 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 9300000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 9580000.00 USD Thousand in 2020, according to our econometric models.