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The country’s trade deficit dropped 3.5% in August 2026 as exports posted its highest monthly earning yet since 1991
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Total external trade grew 21% year-on-year to $22.07 billion in August 2026, its 20th month in a row of expansion
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Imports improved 16.6% to $12.96 billion in August, its seventh consecutive month of growth
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Exports grew 27.8% year-on-year to $9.11 billion in August, its highest recorded earnings since 1991
The country’s trade deficit dropped 3.5% in August 2026 as exports posted its highest monthly earning yet since 1991, according to preliminary data from the Philippine Statistics Authority (PSA).
The balance of trade in goods in August amounted to US$-3.85 billion, indicating a deficit with an annual decline of 3.5%.
Total external trade grew 21% year-on-year to $22.07 billion in August 2026, its 20th month in a row of expansion.
READ: PH trade deficit widens 34.9% to $6B in July 2026
Imports, which accounted for 58.7% of the total, likewise grew for the seventh consecutive month in August, registering a 16.6% increase to $12.96 billion from $11.12 billion in August 2025. Among the commodity groups, electronic products continued to post the biggest improvement in imports for the period, followed by mineral fuels, lubricants and related materials, and cereals and cereal preparations.
For January to August 2026, imports saw a 19.1% increment year-on-year to $105.60 billion, the highest eight-month figure recorded for imports since PSA’s international merchandise trade series began in 1991.
For the 20th month in a row, exports grew 27.8% year-on-year to $9.11 billion in August 2026, its highest recorded earnings since 1991. For January to August 2026, exports also rose 14.8% year-on-year to $64.04 billion, which was also the highest eight-month figure for exports since 1991.
Exports of electronic products, gold, and electronic equipment posted the biggest increase in August 2026.
Electronic products also remained the country’s top import and export commodity.
For August, imports of electronic products accounted for $4.51 billion or 34.8% of the total import bill. It was followed by mineral fuels, lubricants and related materials with $1.85 billion (14.3%), and transport equipment with $906.05 million (7%).
Electronic products also shared the biggest in terms of exports, recording earning $6.20 billion or a share of 68.1% to the total. Other mineral products were in second with $393.54 million (4.3%), followed by gold with $321.27 million (3.5%).
By major type of goods, exports of manufactured goods contributed the largest share in exports in August 2026, amounting to $7.69 billion or 84.4% of the total. Mineral products came next with $800.62 million (8.8%), and total agro-based products, which contributed $455.26 million (5%).
For imports, raw materials and intermediate goods still topped with a share of $5.14 billion or 39.7%. This was followed by capital goods with $3.60 billion (27.8%), and consumer goods with $2.31 billion (17.8%).
Suppliers
China remains the country’s largest supplier of imported goods valued at $2.94 billion or 22.7% of the total in August 2026.
The four other top import sources for August were South Korea, $2.73 billion; Japan, $939.85 million; Indonesia, $893.22 million; and the U.S., $717.56 million.
The U.S., meanwhile, was still the top export destination in August, recording $2.17 billion or a share of 23.8%. Other top export destinations for the period were Hong Kong, $1.57 billion; China, $1.05 billion; Japan, $704.49 million; and Taiwan, $516.01 million.
