The ocean and the beach in the Philippines

Philippines Merchandise Exports

Philippines Merchandise Exports

Merchandise Exports in Philippines

Merchandise exports were worth USD 73.3 billion in 2024 in Philippines compared to USD 62.1 billion ten years earlier, and averaged USD 68.5 billion over the last decade. For more exports information, visit our dedicated page.

Philippines Merchandise Exports Chart

Note: This chart displays Exports (USD billion) for Philippines from 2014 to 2024.
Source: Macrobond.

Philippines Merchandise Exports Data

2020 2021 2022 2023 2024
Merchandise Exports (USD bn) 65.2 74.7 79.6 73.6 73.3
Merchandise Exports (ann. var. %) -8.1 14.5 6.5 -7.5 -0.5

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.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine merchandise exports projections for the next ten years from a panel of 6 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Philippine merchandise exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine merchandise exports projections.

Want to get access to the full dataset of Philippine merchandise exports forecasts? Send an email to info@focus-economics.com.

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