Imports to the Philippines jumped 16.6 percent year-on-year to the largest since January 2020 of USD 9.10 billion in March 2021, after an upwardly revised 8.9 percent growth in March. This was the strongest increase in inbound shipments in over two years, as domestic demand strengthened in the aftermath of the coronavirus disruptions. Arrivals grew for other food and live animals (30.9%), telecommunication equipment and electrical machinery (28%), mineral fuels, lubricants, and related materials (21.4%), electronic products (19%), plastics in primary and non-primary forms (18%), miscellaneous manufactured articles (10.2%), industrial machinery & equipment (7.3%), and iron & steel (5.4%). In contrast, purchases fell for both cereals and cereal preparations (-14.3%) and transport equipment (-1.7%). Purchases rose from China (33.3%), South Korea (12.0%), the US (8.5%), Japan (18.0%), Indonesia (27.9%), Thailand (17.3%), the EU (22.2%), and the ASEAN countries (16.5%). source: National Statistics Office of Philippines
Imports in Philippines averaged 2208941.80 USD Thousand from 1957 until 2021, reaching an all time high of 10724291.25 USD Thousand in October of 2018 and a record low of 37084.30 USD Thousand in February of 1963. This page provides the latest reported value for - Philippines Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Imports - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Imports in Philippines is expected to be 8150000.00 USD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Philippines to stand at 8500000.00 in 12 months time. In the long-term, the Philippines Imports is projected to trend around 8500000.00 USD Thousand in 2022, according to our econometric models.