Trade Balance in Philippines
Merchandise exports slide in March
Merchandise exports contracted 9.1% annually in March, on the heels of February’s 18.1% plunge. Meanwhile, merchandise imports declined 2.7% over the same month last year in March (February: -11.8% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.9 billion deficit in March (February 2023: USD 3.9 billion deficit; March 2022: USD 4.6 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 59.7 billion deficit in March, compared to the USD 59.4 billion deficit in February.
Philippines Trade Balance Chart
This chart displays Trade Balance (USD billion) for Philippines from 2013 to 2022.
Philippines Trade Balance Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -27.4 | -43.5 | -40.7 | -24.6 | -42.2 |