The Philippines' trade deficit increased to USD 5 billion in March 2022 from USD 2.76 billion in the same month a year earlier. This was the largest trade deficit since last December, as exports rose less imports, amid weakening global demand due to the Ukraine war and supply disruptions. Exports grew by 5.9 percent year-on-year to USD 7.17 billion while imports rose at a faster 27.7 percent to USD 12.17 billion. For the first quarter of the year, the trade gap widened sharply to USD 13.89 billion from USD 8.34 billion in the corresponding period of 2021. source: Philippine Statistics Authority
Balance of Trade in Philippines averaged -504996.38 USD Thousand from 1957 until 2022, reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -5213631.70 USD Thousand in December of 2021. 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 May of 2022.
Balance of Trade in Philippines is expected to be -3200000.00 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 2023, according to our econometric models.