Filipinas Balança Comercial

The Philippines’ trade deficit narrowed to USD 3.3 billion in May 2025 from USD 4.7 billion in the same month last year, as exports rose while imports fell. Year-on-year, exports climbed by 15.1% to USD 7.3 billion, driven by higher sales of gold (102.2%), other manufactured goods (70.6%), and copper concentrates (67.6%). The US accounted for the largest share of exports (15.3%), followed by Hong Kong (15.2%), Japan (14.3%), and China (10.2%). Meanwhile, imports dropped by 4.4% to USD 10.6 billion, mainly due to reduced purchases of mineral fuels, lubricants and related materials (-39.6%), cereals and cereal preparations (-16.4%), and iron and steel (-12.2%). China remained the top import source, accounting for 29.7% of total imports, followed by Indonesia (8.5%), Japan (7.6%), and South Korea (6.4%). Considering the first five months of the year, the trade deficit decreased to USD 19.7 billion, compared to USD 20.7 billion in the corresponding period of the previous year.