Exports from the Philippines shrank 13.5% year-on-year to a 32-month low of USD 5.23 billion in January 2023, after a downwardly revised 7.7% fall in December 2022. It was the second straight month of decline and the steepest drop since May 2020 due to further deterioration in foreign demand as the risks of economic slowdown persisted. Sales mainly decreased for coconut oil (-39.1%), chemicals (-14.6%), electronic products (-19.2%), other manufactured products (-11.9%), metal components (-19.8%), and cathodes and sections of cathodes, of refined copper (-39.0%). Conversely, they increased for ignition wiring sets and other wiring sets used in vehicles, aircraft, ships (15.0%), other mineral products (41.2%), machinery & transport equipment (20.7%), and gold (29.3%). Regarding trading partners, shipments fell sharply to Hong Kong (-28.3%), the US (-21.0%), China (-24.7%), and Singapore (-23.0%); while advancing to South Korea (5.1%) and Japan (4.6%). source: Philippine Statistics Authority

Exports YoY in Philippines averaged 10.16 percent from 1958 until 2023, reaching an all time high of 155.30 percent in June of 1973 and a record low of -41.30 percent in April of 2020. This page includes a chart with historical data for Philippines Exports YoY. Philippines Exports YoY - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

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Philippines Exports YoY



Calendar GMT Actual Previous Consensus TEForecast
2023-01-26 01:00 AM Dec -9.7% 13.2%
2023-03-14 01:00 AM Jan -13.5% -7.7%
2023-04-11 01:00 AM Feb -13.5%

Philippines Exports YoY
Exports in Philippines account for nearly a third of GDP. Major exports are: electronic products (42 percent), other manufactures (10 percent) and woodcrafts and furniture (6 percent). Philippines is also the world’s largest producer of coconut, pineapple and abaca. Philippines's main export partners are: Japan (21 percent), the United States (15 percent), China (12 percent) and Hong Kong (8 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-13.50 -7.70 155.30 -41.30 1958 - 2023 percent Monthly

News Stream
Philippines Exports Fall the Most in Near 3 Years
Exports from the Philippines shrank 13.5% year-on-year to a 32-month low of USD 5.23 billion in January 2023, after a downwardly revised 7.7% fall in December 2022. It was the second straight month of decline and the steepest drop since May 2020 due to further deterioration in foreign demand as the risks of economic slowdown persisted. Sales mainly decreased for coconut oil (-39.1%), chemicals (-14.6%), electronic products (-19.2%), other manufactured products (-11.9%), metal components (-19.8%), and cathodes and sections of cathodes, of refined copper (-39.0%). Conversely, they increased for ignition wiring sets and other wiring sets used in vehicles, aircraft, ships (15.0%), other mineral products (41.2%), machinery & transport equipment (20.7%), and gold (29.3%). Regarding trading partners, shipments fell sharply to Hong Kong (-28.3%), the US (-21.0%), China (-24.7%), and Singapore (-23.0%); while advancing to South Korea (5.1%) and Japan (4.6%).
2023-03-14
Philippines Exports Fall for 1st Time in 4 Months
Exports from the Philippines contracted 9.7% year-on-year to USD 5.67 billion in December 2022, reversing a 13.2% gain in November and marking the first drop since August due to deterioration in foreign demand following a resurgence of COVID cases and strict curbs in some countries. Sales mainly decreased for coconut oil (-39.5%), chemicals (-24.7%), electronic products (-13.9%), other manufactured products (-9.8%), metal components (-3%), and electronic equipment (-2.7%). In contrast, they grew for cathodes and sections of cathodes (69.1%), ignition wiring sets and other wiring sets used in vehicles, aircraft, ships (24.0%), other mineral products (13.2%), and machinery & equipment (12.4%). Regarding trading partners, shipments fell sharply to Hong Kong (-33.9%), Netherlands (-26.5%), and Singapore (-21.6%); while rising to China (5.8%), South Korea (25.4%) and Taiwan (4.6%). For the whole year, exports expanded by 5.6%.
2023-01-26
Philippines Exports Grow for 3rd Month
Exports from the Philippines rose by 13.2% year-on-year to USD 7.10 billion in November 2022, after a marginally revised 20.3 percent increase a month earlier, pointing to the third straight month of growth amid sustained foreign demand and easing supply chain disruptions. Sales mainly increased for other mineral products (51.0%), ignition wiring sets and other wiring sets used in vehicles, aircraft and ships (23.1%), electronic products (22.9%), cathodes and sections of cathodes (8.7%), and other manufactured products (4.8%). In contrast, exports fell for coconut oil (-35.2%), metal components (-19.2%), chemicals (-15.1%), electronic equipment (-4.7%), and machinery & transport equipment (-0.2%). Shipments rose to Hong Kong (39.1%), the US (13.8%), Japan (6.7%), Singapore (2.4%), Taiwan (32.8%), South Korea (44.4%), Netherlands (18.8%), Germany (7.2%), the ASEAN countries (0.8%), and the EU (10.7%). By contrast, sales dropped to China (-1.3%), Vietnam (-43.6%), and India (-0.4%).
2023-01-10


United Nations Comtrade Database
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