The ocean and the beach in the Philippines

Philippines Trade Balance June 2021

Philippines: Merchandise exports rise at a softer pace in June

Merchandise exports soared 17.6% over the same month last year in June (May: +30.8% year-on-year). June’s slowdown was chiefly driven by a markedly softer increase in electronic equipment and parts shipments.

Meanwhile, merchandise imports soared 34.2% on an annual basis in June (May: +55.6% yoy). June’s lower reading largely reflected a milder expansion in imports of mineral fuels, lubricants and related materials as well as of industrial machinery and equipment.

As a result, the merchandise trade balance recorded a USD 2.8 billion deficit in June (May 2021: USD 3.2 billion deficit; June 2020: USD 1.4 billion deficit). However, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 30.7 billion deficit in June, compared to the USD 29.3 billion deficit in May.

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