The Philippine trade deficit narrowed in 2025 as growth in the country’s exports outpaced growth in imports, preliminary data from the Philippine Statistics Authority (PSA) showed.
The Balance of trade in goods (BoT-G) in December 2025 amounted to USD -3.52 billion, indicating a trade deficit with an annual decline of 15.0 percent. In November 2025 and December 2024, the trade deficit registered annual decreases of 19.9 percent and 0.8 percent, respectively. The BoT-G is the difference between the value of exports and imports.
The commodity group with the highest annual increment in the value of exports in December 2025 was electronic products with USD1.23 billion. This was followed by bananas (fresh) with an annual increase of USD112.23 million, and gold with an annual increment of USD74.23 million.
The annual total import value in 2025 amounted to USD133.57 billion. This represents an annual increment of 4.7 percent from the annual total import value of USD127.60 billion in 2024.
The total import value in 2025 was the highest recorded since 2022, which amounted to USD137.22 billion.
The annual total value of exports in 2025 amounted to USD84.41 billion. This represents an annual increase of 15.2 percent from the annual total export value of USD73.27 billion in 2024.
The total value of exports in 2025 was the highest recorded since the series began in 1991.
