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


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.