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The Philippines’ trade balance amounted to US$3.52 billion in December 2025, indicating a 15% drop in deficit as exports continued its double-digit growth streak during the period
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Total external trade in December 2025 grew 13% to $17.51 billion
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Imports increased 7.1% to $10.52 billion while exports rose 23.3% to $6.99 billion
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For the whole year, exports grew 15.2% year-on-year to $84.41 billion, the highest recorded since the PSA series began in 1991
The country’s trade balance amounted to US$3.52 billion in December 2025, reflecting a 15% drop in deficit as exports continued its double-digit growth streak during the period, according to preliminary data from the Philippine Statistics Authority (PSA).
Total external trade in December 2025 grew 13% to $17.51 billion from $15.49 billion in December 2024, driven by increases in both imports and exports.
Accounting for 60.1% of the total during the period, imports grew for the second straight month in December to $10.52 billion, up 7.1% from $9.82 billion in December 2024.
For the full year 2025, imports rose 4.7% year-on-year to $133.57 billion, the highest recorded since 2022’s $137.22 billion.
Exports, meanwhile, completed 2025 without any monthly decline. For December 2025, exports reached $6.99 billion, a 23.3% increment from $5.67 billion in December 2024.
For the whole year, exports grew 15.2% year-on-year to $84.41 billion, the highest recorded since the PSA series began in 1991.
READ: Trade deficit drops by 28.8% on improved exports, lower imports
Amongst commodity groups, electronic products recorded the highest increment in imports in December 2025, followed by telecommunication equipment and electrical machinery; mineral fuels, lubricants and related materials; miscellaneous manufactured articles; and transport equipment.
Electronic products also remained as the country’s top import commodity, amounting to $2.66 billion or a share of 25.3% to the total import bill in December 2025. Mineral fuels, lubricants and related materials came next with $.46 billion, then transport equipment ($1.03 billion), industrial machinery and equipment ($468.64 million); and miscellaneous manufactured articles ($441.45 million).
By major type of goods, imports of capital goods accounted for the largest share in December 2025, with a share of $3.53 billion or 33.6%. This was followed by raw materials and intermediate goods with $3.40 billion (32.3%), and consumer goods with $2.08 billion (19.8%).
In terms of exports, electronic products also posted the biggest growth in December 2025, followed by fresh bananas, gold, machinery and transport equipment, and other mineral products.
Electronic products also remained the country’s top export commodity in December 2025 with $4.04 billion or 57.8% of the total during the period. Other top exports were other manufactured goods ($320.06 million); machinery and transport equipment ($295.57 million); coconut oil ($260.6 million); and gold ($250.88 million).
By major type of goods, exports of manufactured goods contributed the largest with $5.59 billion or a share of 79.9% . This was followed by total agro-based products with $732.09 million (10.5%), and mineral products, which contributed $514.85 million (7.4%).
China was still the country’s largest supplier of imported goods valued at $2.983 billion or 28.4% of the total in December 2025. It was also 13.6% higher than the $2.626 billion record in December 2024.
Other top import sources were South Korea ($1.03 billion), Indonesia ($712.78 million), Japan ($712.14 million), and the U.S. ($662.11 million).
Exports to the U.S., meanwhile, had the highest share of $1.10 billion or 15.7% of the total in December, and was 14.3% higher than the $960.31 million in December 2024.
Other top export destinations were Hong Kong ($1.05 billion), Japan ($975.84 million), China ($790.15 million), and Singapore ($329.46 million).
