The country’s total external trade in goods reached $106.99 billion in the first semester of 2025, marking a significant 9.2% increase compared to the same period the previous year, according to the Philippine Statistics Authority (PSA).
PSA noted that this growth follows a modest 1.4% increase in the second half of 2024 and reverses a 0.4% decline in the first half of 2024, signaling a strong recovery in the trade sector.
Key Highlights
Trade Composition and Deficit: Imports accounted for 61.4% of the total trade, while exports made up the remaining 38.6%. The trade deficit, while still present, saw an improvement, declining by 2.6% to -$24.41 billion. This is a positive shift from the 17.2% increase in the deficit seen in the second half of 2024.
Export Growth: Total export sales surged to $41.29 billion, an impressive 13.3% annual increase. This strong performance follows a decline in the second half of 2024 and is a notable acceleration from the 3.1% growth in the first half of 2024.
Top Export Commodities: Electronic products remained the country’s top export, bringing in $21.69 billion and representing 52.5% of all exports. Other top performers included other manufactured goods ($3.93 billion) and other mineral products ($1.85 billion). Other manufactured goods also saw the highest growth in value, increasing by $2.04 billion.
Major Trading Partners: The United States was the leading export destination, accounting for $6.60 billion or 16.0% of total exports. Other key partners included Japan ($5.81 billion), Hong Kong ($5.72 billion), the People’s Republic of China ($4.28 billion), and the Netherlands ($1.69 billion).
