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.

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Philippines Balance of Trade


Calendar GMT Actual Previous Consensus TEForecast
2021-09-09 01:00 AM Jul $-3.290B $-3.397B $ -2.9B
2021-10-12 01:00 AM Aug $-3.577B $-3.659B $-3.5B
2021-11-05 01:00 AM Sep $-3.577B $ -3.6B
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Philippines Trade Gap Widens in August
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.
2021-10-12
Philippines Trade Gap Widens
The Philippines' trade deficit increased to USD 3.29 billion in July 2021 from USD 2.13 billion in the same month a year earlier. Exports grew by 12.7 percent year-on-year to USD 6.42 billion, while imports expanded at a faster 24.0 percent to USD 9.71 billion. Considering the first seven months of the year, the trade gap widened to USD 21.31 billion from USD 13.50 billion.
2021-09-09
Philippines Trade Gap Widens in June
The Philippines' trade deficit increased to USD 2.83 billion in June 2021 from USD 1.42 billion in the same month a year earlier. Exports grew by 17.6 percent year-on-year to USD 6.50 billion, while imports expanded at a faster 34.2 percent to USD 9.33 billion. Considering the first six months of the year, the trade gap widened to USD 17.45 billion from USD 11.37 billion.
2021-08-06

Philippines Last Unit Reference Previous Highest Lowest
Balance of Trade -3577043.25 USD Thousand Aug/21 -3659305.75 1144700.00 -4415446.66
Imports 10043030.78 USD Thousand Aug/21 9711992.68 10724291.25 37084.30
Exports 6465987.53 USD Thousand Aug/21 6421140.74 6773590.00 23000.00


Philippines Balance of Trade
Philippines has been running annual trade deficits due to high imports of raw materials and intermediate goods. In 2013, the biggest trade deficits were recorded with: Taiwan, Saudi Arabia, Thailand and South Korea while the biggest trade surpluses with: Japan, Hong Kong and the United States.