The Philippines' trade deficit increased to USD 3.58 billion in August 2021 from USD 2.18 billion in the same month a year earlier. Exports grew by 17.6 percent year-on-year to USD 6.47 billion, while imports expanded at a faster 30.8 percent to USD 10.04 billion. Considering the first eight months of the year, the trade gap widened to USD 25.27 billion from USD 15.68 billion. source: National Statistics Office of Philippines
Balance of Trade in Philippines averaged -467197.83 USD Thousand from 1957 until 2021, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -4415446.66 USD Thousand in October of 2018. This page provides the latest reported value for - Philippines Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Balance of Trade in Philippines is expected to be -4150000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Philippines Balance of Trade is projected to trend around -3200000.00 USD Thousand in 2022, according to our econometric models.