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Philippine exports posted double-digit growth in July, helping cut trade deficit by 17%, based on preliminary data from the Philippine Statistics Authority
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Exports advanced for the seventh straight month, recording a 17.3% increase to $7.34 billion in July
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Total external trade in July 2025 grew 7.7% to $18.72 billion
Philippine exports posted double-digit growth in July, helping cut trade deficit by 17%, based on preliminary data from the Philippine Statistics Authority.
Exports advanced for the seventh straight month, recording a 17.3% increase to $7.34 billion in July.
For the same month, the balance of trade in goods amounted to $4.05 billion, leading to a trade deficit of 17%. This is in contrast to the 1.4% and 18.3% increases in June 2025 and July 2024, respectively.
Total external trade in July 2025 grew 7.7% to $18.72 billion from $17.38 billion in July last year.
Imports accounted for 60.8% or $11.38 billion of the total, its second consecutive month of increase albeit slower than June’s 15.7% increase. The July figure is 2.3% higher than the $11.13 billion import value in July last year.
From January to July 2025, imports registered a 6.1% year-on-year growth to $77.09 billion.
Exports continued its seventh straight month of improvement, posting a 17.3% increase to $7.34 billion.
From January to July 2025, exports hit $48.62 billion, up 13.9% year-on-year.
Electronic products continued to be the country’s top commodity, accounting for $2.80 billion or a share of 24.6% in the total import bill and $3.92 billion or 53.5% of total exports.
Other top commodity groups in terms of imports were mineral fuels, lubricants and related materials with $1.32 billion (11.6%), and transport equipment at $1 billion (8.8%). For exports, other top commodities were other mineral products with $522.39 million (7.1%), and other manufactured goods with $395.77 million (5.4%).
By major type of goods, imports of raw materials and intermediate goods accounted for the largest share amounting to $4.20 billion or a 36.9% share. This was followed by capital goods with $3.43 billion (30.1%), and consumer goods with $2.39 billion (21%).
Manufactured goods, on the other hand, contributed the largest to the country’s exports in July 2025, reaching $5.68 billion or a share of 77.4%. Mineral products followed with a share of $887.18 million (12.1%), and total agro-based products, which contributed $615.59 million (8.4%).
China was still the country’s largest supplier of imported goods valued at $3.40 billion or 29.9% of the total imports in July 2025.
Other major import trading partners for the month were South Korea, $1.01 billion; Indonesia, $898.40 million; Japan, $843.13 million; and the US, $714.21 million.
For exports, the US had the highest share of $1.16 billion or 15.8% of the total, followed by Hong Kong, $1.12 billion; Japan, $996.44 million; China, $832.57 million; and the Netherlands, $317.25 million.
