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.