Philippines: Merchandise exports grow at a more moderate pace in July
Latest reading: Merchandise exports jumped 17.3% in annual terms in July (June: +26.9% year-on-year). Meanwhile, merchandise imports expanded 2.3% on an annual basis in July (June: +15.7% yoy).
The merchandise trade balance improved from the previous month, recording a USD 4.0 billion shortfall in July (June 2025: USD 4.4 billion deficit; July 2024: USD 4.9 billion deficit). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 52.9 billion deficit in July, compared to the USD 53.7 billion deficit in June.