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The country’s trade deficit shrank 19.4% in August 2025 as exports continued to improve while imports declined
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The value of the country’s external trade in goods for August dropped 1.3% year-on-year to $17.67 billion
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Imports flunked 4.9% to $10.60 billion while exports grew 4.6% year-on-year to $7.06 billion
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China was still the top import source while Hong Kong was the top export destination
The country’s trade deficit shrank 19.4% in August 2025 as exports continued to improve while imports declined, according to preliminary data from the Philippine Statistics Authority.
The balance of trade in goods in August 2025 amounted to US$3.54 billion, indicating a 19.4% drop, higher than the 9.3% decline in July 2025 and in contrast to the 7.1% increase recorded in August 2024.
The country’s external trade in goods for August dropped 1.3% year-on-year to $17.67 billion, as opposed to the 10% and 1.9% increases in July 2025 and August 2024, respectively.
The decline comes as imports, which accounted for 60% of the total in August, flunked 4.9% to $10.60 billion from $11.15 billion in August last year.
Exports, on the other hand, grew 4.6% year-on-year to $7.06 billion in August, its eighth consecutive month of increase, albeit the lowest.
From January to August 2025, exports likewise rose 12.6% year-on-year to $55.70 billion.
Imports for the first eight months of the year also grew 5.1% to $88.08 billion.
READ: July exports sees double-digit growth, helps cut trade deficit
Electronic products remained the country’s top import and export commodity, accounting for $2.74 billion or 25.8% of the total import bill, and $3.87 billion or 54.8% of total exports for August.
Other top import commodities were mineral fuels, lubricants and related materials with $1.18 billion (11.1%), and transport equipment at $883.37 million (8.3%). Similarly, other mineral products and machinery and transport equipment were also the other top export commodities, accounting for $384.26 million (5.4%) and $363.65 million (5.1%), respectively.
By major type of goods, imports of raw materials and intermediate goods had the largest share of $3.82 billion or 36% of the total. This was followed by capital goods with $3.24 billion (30.6%), and consumer goods with $2.31 billion (21.8%).
Exports of manufactured goods, meanwhile, were the top export with $5.61 billion or a share of 79.4%. Mineral products followed with $728.16 million (10.3%), and total agro-based products with $577.17 million (8.2%).
By trading partners, China is still the country’s largest import source, accounting for $3.19 billion or 30.1% of total imports in August 2025.
Other top import sources were South Korea, $848.93 million; Indonesia, $838.78 million; Japan, $ 731.06 million; and the US, $698.41 million.
In terms of exports, Hong Kong was the top trading partner in August with $1.19 billion or a share of 16.9% to the total. Completing the top five major export trading partners for August were the US, $1.09 billion; Japan, $979 million; China, $849.32 million; and Taiwan, $292.18 million.
