The ocean and the beach in the Philippines

Philippines Trade Balance September 2021

Philippines: Merchandise exports grow at a more moderate pace in September

Merchandise exports rose 6.3% on an annual basis in September, on the heels of August’s 18.9% upturn. Faster sales of chemicals, gold and other mineral products among other goods drove the expansion, while machinery sales fell. September’s result marked the weakest expansion since February. Meanwhile, merchandise imports soared 24.8% over the same month last year in September (August: +30.9% yoy), on higher inputs of fuels and medical products.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.0 billion deficit in September (August 2021: USD 3.5 billion deficit; September 2020: USD 2.3 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 35.8 billion deficit in September, compared to the USD 34.1 billion deficit in August.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest