Imports to the Philippines grew 3.9% yoy to a three-month high of USD 10.97 billion in January 2023, rebounding from a downwardly revised 9.6% drop in December 2022. It was the first increase in imports since last October, amid signs of a recovery in domestic demand as the economy fully reopened and commodity prices eased. Purchases rose for metalliferous ores & metal scrap (333.5%), mineral fuels (70.6%), telecommunication equipment & machinery (15.2%), other food & live animals (6.4%), transport equipment (3.7%), industrial machinery & equipment (3.4%), and miscellaneous manufactured articles (2.2%). By contrast, imports fell for iron & steel (-7.7%), electronic products (-12.9%), and cereals & cereal preparation (-18.4%). Regarding trading partners, imports climbed from Indonesia (98.9%), Australia (55.0%), China (12.0%), Malaysia (5.9%), and Singapore (2.6%), while declining from the US (-8.9%), South Korea (-18.3%). source: Philippine Statistics Authority

Imports YoY in Philippines averaged 10.84 percent from 1958 until 2023, reaching an all time high of 147.50 percent in July of 1974 and a record low of -62.90 percent in April of 2020. This page includes a chart with historical data for Philippines Imports YoY. Philippines Imports YoY - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

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Philippines Imports YoY



Calendar GMT Actual Previous Consensus TEForecast
2023-01-26 01:00 AM Dec -9.9% -1.6%
2023-03-14 01:00 AM Jan 3.9% -9.6%
2023-04-11 01:00 AM Feb 3.9%

Philippines Imports YoY
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines's main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).
Actual Previous Highest Lowest Dates Unit Frequency
3.90 -9.60 147.50 -62.90 1958 - 2023 percent Monthly

News Stream
Philippines Imports Rebound in January
Imports to the Philippines grew 3.9% yoy to a three-month high of USD 10.97 billion in January 2023, rebounding from a downwardly revised 9.6% drop in December 2022. It was the first increase in imports since last October, amid signs of a recovery in domestic demand as the economy fully reopened and commodity prices eased. Purchases rose for metalliferous ores & metal scrap (333.5%), mineral fuels (70.6%), telecommunication equipment & machinery (15.2%), other food & live animals (6.4%), transport equipment (3.7%), industrial machinery & equipment (3.4%), and miscellaneous manufactured articles (2.2%). By contrast, imports fell for iron & steel (-7.7%), electronic products (-12.9%), and cereals & cereal preparation (-18.4%). Regarding trading partners, imports climbed from Indonesia (98.9%), Australia (55.0%), China (12.0%), Malaysia (5.9%), and Singapore (2.6%), while declining from the US (-8.9%), South Korea (-18.3%).
2023-03-14
Philippines Imports Drop Most in Near 2 Years
Imports to the Philippines plunged 9.9% yoy to USD 10.26 billion in December 2022, way steeper than a marginally revised 1.6% fall in November. It was the second straight month of decline in arrivals and the fastest pace since January 2021, provoked by weak domestic demand amid intense price pressures and a low peso. Purchases shrank for iron & steel (-41.7%), miscellaneous manufactured articles (-15.3%), transport equipment (-10.9%), electronic products (-10.8%), machinery (-8.6%), and telecommunication equipment and machinery (-1.3%). On the other hand, they rose for metalliferous ores and metal scrap (542.9%), cereals and cereal preparation (15.9%), and mineral fuels (13.4%). Regarding trading partners, imports dropped sharply from the EU (-43.7%), South Korea (-31.6%), Hong Kong (-23.3%), and Germany (-26.0%); while increasing from China (8.3%), Indonesia (19.3%), and Australia (161.3%). For the full year, purchases jumped 17.3%.
2023-01-26
Philippines Imports Fall for 1st Time in Near 2 Years
Exports from the Philippines rose 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%), while dropping to China (-1.3%), Vietnam (-43.6%), and India (-0.4%).
2023-01-10


United Nations Comtrade Database
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