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Total external trade in goods in the first half of the year grew 9.2% to $106.99 billion
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Imports increased 6.8% while exports grew 13.3%
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Trade deficit shrank 2.6%
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China remained the top import source, while the US had the biggest share in exports
The country’s total external trade in goods in the first half of 2025 grew 9.2% to $106.99 billion from $97.94 billion in the same period last year, according to data from the Philippine Statistics Authority.
Imports, which accounted for 61.4% of the total, rose 6.8% to $65.70 billion from $61.50 billion last year.
Exports likewise increased 13.3% to $41.29 billion from $36.44 billion during the period in review.
Electronic products remain the country’s top import and export commodity during the first semester of the year.
Of the total external trade in the first semester, 61.4% were imported goods and 38.6% were exported goods.
The trade deficit shrank 2.6% in the first half of the year, with the balance of trade in goods amounting to $24.41 billion in January-June 2025 against a 17.2% increase in the second semester of 2024 and lower than the 9.3% decline in the first half of 2024.
READ: PH trade deficit down 8.8% in June 2025
Imports of electronic products, which had the highest annual increment during the period, accounted for $14.60 billion or 22.2% of the total. It was followed by mineral fuels, lubricants and related materials at $8.56 billion (13%), and transport equipment at $6.51 billion (9.9%).
In terms of exports, electronic products accounted for $21.69 billion or 52.5% of the total export bill. Following this were other manufactured goods with an export value of $3.93 billion (9.5%), and other mineral products at $1.85 billion (4.5%).
By major type of goods, imports of raw materials and intermediate goods still accounted for the largest share in imports, amounting to $23.80 billion or 36.2% of the total. This was followed by capital goods with $19.46 billion (29.6%), and consumer goods with $13.65 billion (20.8%).
Exports of manufactured goods, meanwhile, still contributed the most to the total export bill with $33.17 billion or a share of 80.3%. This was followed by total agro-based products with a share of $3.57 billion (8.6%), and mineral products, which contributed $3.34 billion (8.1%).
China, the country’s top import source, covered $18.57 billion or 28.3% of the total in the first semester of the year.
Other top import sources for the period were Japan, $5.36 billion; Indonesia, $5.21 billion; South Korea, $4.79 billion; and the US, $3.87 billion.
The US, meanwhile, was the top trading partner in terms of exports, accounting for $6.60 billion or a 16% share of the total.
This was followed by Japan, $5.81 billion; Hong Kong, $5.72 billion; China, $4.28 billion; and the Netherlands, $1.69 billion.
READ: July exports sees double-digit growth, helps cut trade deficit
