Latest reading: In May, the trade balance was USD +105.4 billion, following a USD +84.8 billion figure in the prior...
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 2025.
Source: Macrobond.
Philippines Merchandise Exports Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Exports (USD bn) | 74.7 | 79.6 | 73.6 | 73.3 | 84.5 |
| Merchandise Exports (ann. var. %) | 14.5 | 6.5 | -7.5 | -0.5 | 15.3 |
Merchandise trade deficit widens in April
Latest reading: In April, the trade balance was USD -6.0 billion, following a USD -5.0 billion reading in the prior month. This marked the largest deficit since August 2022. Over the last 12 months, the trade balance summed to USD -52.6 billion. Merchandise exports rose 6.3% in year-on-year terms in April, following 20.8% growth in the prior month. April's reading was the weakest since August 2025. Merchandise imports rose 22.4% in annual terms in April, following 17.0% growth in the previous month. April's reading was the strongest since August 2022.
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 7 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.
Latest Global Trade News
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Philippines: Merchandise trade deficit widens in April Latest reading: In April, the trade balance was USD -6.0 billion, following a USD -5.0 billion reading in the prior...