Latest reading: In May, the trade balance was USD -0.6 billion, following a USD +1.1 billion reading in the previous...
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 narrows in May
Latest reading: In May, the trade balance was USD -5.5 billion, following a USD -6.4 billion reading in the previous month. Over the last 12 months, the trade balance summed to USD -54.9 billion. Merchandise exports increased 7.6% in annual terms in May, coming on the back of 7.2% growth in the previous month, supported by ramped up shipments of electronics, coconut oil and gold. Meanwhile, merchandise imports were up 21.9% in annual terms in May, coming on the back of a 27.3% increase in the prior month.
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.
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