Philippines: Merchandise exports rebound in September
Merchandise exports increased 7.0% year-on-year in September (August: -2.0% year-on-year). The outturn marked the largest outturn since February 2022. Meanwhile, merchandise imports climbed 14.1% over the same month last year in September (August: +26.2% yoy), marking the weakest result since February 2021.
As a result, the merchandise trade balance improved from the previous month, recording a USD 4.8 billion shortfall in September (August 2022: USD 6.0 billion deficit; September 2021: USD 3.8 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 60.3 billion deficit in September, compared to the USD 59.3 billion deficit in August.
window.document.body.addEventListener(‘Highcharts/ready’,()=>{Highcharts.chart(‘chart-container’,{chart:{zoomType:’xy’},title:{text:null,align:’left’},subtitle:{text:null,},xAxis:[{categories:[‘Oct-20′,’Nov-20′,’Dec-20′,’Jan-21′,’Feb-21′,’Mar-21′,’Apr-21′,’May-21′,’Jun-21′,’Jul-21′,’Aug-21′,’Sep-21′,’Oct-21′,’Nov-21′,’Dec-21′,’Jan-22′,’Feb-22′,’Mar-22′,’Apr-22′,’May-22′,’Jun-22′,’Jul-22′,’Aug-22′,’Sep-22′,’Oct-22′],crosshair:true}],yAxis:[{labels:{format:'{value}’,style:{color:Highcharts.getOptions().colors[1]}},title:{text:’%’,style:{color:Highcharts.getOptions().colors[1]}}},{title:{text:’%’,style:{color:Highcharts.getOptions().colors[1]}},labels:{format:'{value}’,style:{color:Highcharts.getOptions().colors[1]}},opposite:true}],tooltip:{shared:true},legend:{align:’left’,x:50,verticalAlign:’top’,y:15,floating:true,backgroundColor:Highcharts.defaultOptions.legend.backgroundColor||’rgba(255,255,255,0.25)’},series:[{name:’MerchandiseTradeBalance(USDbn)’,type:’column’,yAxis:0,data:[-2.1,-2.4,-2.9,-2.7,-2.8,-3.1,-3.2,-3.3,-3.5,-3.3,-3.8,-3.8,-4.7,-5.1,-4.5,-4.0,-4.6,-5.3,-5.6,-5.9,-6.0,-6.0,-4.8,-3.3],tooltip:{valueSuffix:”}},{name:’MerchandiseExports(ann.var.%)’,type:’spline’,yAxis:1,data:[4.6,1.8,-4.4,-1.4,33.4,74.1,30.8,18.9,13.8,18.9,6.4,2.0,6.6,7.3,9.0,15.8,5.9,6.2,6.4,1.0,-4.1,-2.0,7.1,20.0],tooltip:{valueSuffix:”}},{name:’MerchandiseImports(ann.var.%)’,type:’spline’,yAxis:1,data:[-13.5,-4.7,-11.8,9.0,22.1,153.2,55.8,42.4,27.5,28.3,22.8,22.8,36.8,37.2,25.3,26.3,23.4,29.0,30.2,26.3,22.2,26.2,14.4,7.5],tooltip:{valueSuffix:”}}]})});