Filipinas Balança Comercial

The Philippines’ trade deficit narrowed to USD 3.54 billion in August 2025, compared with USD 4.40 billion in the same month last year. Exports rose 4.6% year-on-year to USD 7.06 billion, supported by higher sales of electronic products (8.5%), other mineral products (41.2%), machinery and transport equipment (40.5%), and gold (153.4%). Hong Kong accounted for the largest share of exports (16.9%), followed by the US (15.4%), Japan (13.9%), and China (12%). Still, the 19% tariff imposed by the US continued to weigh on trade momentum. Meanwhile, imports fell 4.9% to USD 10.60 billion, mainly due to reduced purchases of mineral fuels, lubricants and related materials (-34.2%), transport equipment (-6.2%), and cereals and cereal preparations (-19.4%). China remained the top import source, making up 30.1% of total imports, followed by South Korea (8%), Indonesia (7.9%), and Japan (6.9%). From January to August, the trade gap narrowed to USD 32.38 billion from USD 34.33 billion in 2024.