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The Philippines’ trade deficit dropped 8.8% in June 2025 as imports recovered while exports continued to record growth
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Total external trade in June amounted to $18 billion, up 16.3% from $15.47 billion posted in June last year
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Imports grew 10.8% year-on-year to $10.98 billion following two consecutive months of decline
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Exports continued to expand for the sixth straight month in June, surging 26.1% to $7.02 billion
The Philippines’ trade deficit dropped 8.8% in June 2025 as imports recovered while exports continued to record growth, preliminary data from the Philippine Statistics Authority showed.
The country’s balance of trade in goods for June reached $3.95 billion, marking an 8.8% decline in trade deficit, slower than the revised 23.3% decline in May 2025 and in contrast to the 10.1% increase in June 2024.
READ: PH trade deficit contracts 30% in May due to high exports
Total external trade in June amounted to $18 billion, up 16.3% from $15.47 billion posted in June last year. It maintained growth for the sixth straight month.
Imports, which accounted for 61% of the total, grew 10.8% year-on-year to $10.98 billion in June, following two consecutive months of decline.
From January to June this year, imports improved 6% to $65.22 billion from $61.50 billion in the same period last year.
Exports continued to expand for the sixth straight month in June, surging 26.1% to $7.02 billion from $5.57 billion in June last year.
For the first half, exports rose 13.2% year-on-year to $41.24 billion.
Among the commodity groups, electronic products continued to be the country’s top export and import product.
Exports of electronic products earned $3.89 billion in June, accounting for 55.4% of the total during the period. It was followed by other mineral products with $491.03 million (7%), and other manufactured goods with $61.14 million (5.1%).
Electronic products also shared $2.56 billion or 23.3% to the total imports bill in June, followed by mineral fuels, lubricants and related materials with $1.40 billion (12.8%), and transport equipment at $1.32 billion (12%).
By major type of goods, imports of capital goods had the largest share to the total in June with $3.71 billion or 33.8%. It followed by raw materials and intermediate goods with a share of $3.67 billion (33.4%), and consumer goods with $2.15 billion (19.6%).
In terms of exports, manufactured goods contributed the largest with $5.53 billion or 78.8% of the total in June. Mineral products came next with $723.92 million (10.3%), and total agro-based products, which contributed $586.58 million (8.4%).
The US was the country’s top export destination in June, recording $1.21 billion or a share of 17.3% to the total. The other top trading partners in terms of exports were Hong Kong, $1.07 billion (15.2%); Japan, $974.80 million (13.9%); China, $733.99 million (10.5%); and Singapore, $311.96 million (4.4%).
China, meanwhile, is still the country’s top import source, accounting for $3.10 billion or 28.2% of the total in June. The four other major import suppliers were Japan, $870.15 million (7.9%); South Korea, $853.26 million (7.8%); Indonesia, $840.21 million (7.7%); and Thailand, $626.93 million (5.7%).
