Latest reading: Merchandise exports climbed 4.8% on an annual basis in May, on the heels of April’s 8.1% rise and...
Merchandise Trade Balance in Philippines
In the year 2024, the merchandise trade balance in Philippines was USD -54.33 billion, compared to USD -3.30 billion in 2014 and USD -52.59 billion in 2023. It averaged USD -35.02 billion over the last decade. For more trade information, visit our dedicated page.
Philippines Trade Chart
Note: This chart displays Trade Balance (USD billion) for Philippines from 2014 to 2024.
Source: Macrobond.
Philippines Trade Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -24.6 | -42.2 | -57.6 | -52.6 | -54.3 |
Merchandise exports rise at a softer pace in April
Latest reading: Merchandise exports rose 7.0% on an annual basis in April, following March’s 8.7% increase. Meanwhile, merchandise imports fell 7.2% in annual terms in April (March: +17.8% yoy), marking the weakest result since March 2024. As a result, the merchandise trade balance improved from the previous month, recording a USD 3.5 billion shortfall in April (March 2025: USD 4.5 billion deficit; April 2024: USD 4.7 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 54.2 billion deficit in April, compared to the USD 55.5 billion deficit in March.
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 trade projections for the next ten years from a panel of 4 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 trade forecast available for Philippine trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine trade projections.
Want to get access to the full dataset of Philippine trade forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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China: Merchandise exports grow at a milder pace in May -
Taiwan: Merchandise exports accelerate in May Latest reading: Merchandise exports shot up 38.6% year-on-year in May (April: +29.9% year-on-year). May’s result marked the fastest expansion since... -
Germany: Merchandise exports fall in April as boost from front-loading ahead of U.S. tariff hikes fades Latest reading: Merchandise exports shrank 1.7% month on month in seasonally adjusted terms in April, contrasting March’s 1.2% rise and... -
Germany: Merchandise exports fall in April as boost from front-loading ahead of U.S. tariff hikes fades Latest reading: Merchandise exports shrank 1.7% month on month in seasonally adjusted terms in April, contrasting March’s 1.2% rise and... -
Philippines: Merchandise exports rise at a softer pace in April Latest reading: Merchandise exports rose 7.0% on an annual basis in April, following March’s 8.7% increase. Meanwhile, merchandise imports fell... -
Thailand: Merchandise exports rise at a more moderate rate in April Latest reading: Merchandise exports rose 9.8% over the same month last year in April, on the heels of March’s 17.8%... -
Indonesia: Merchandise exports grow at a slower pace in March Latest reading: Merchandise exports increased 0.6% over the same month last year in March (February: +13.7% year-on-year). March’s outturn marked...