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The continued growth in the country’s exports brought the trade deficit to a 34.2% decline in October
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Total external trade in goods in October 2025 grew 2.3% to $18.61 billion, the 10th consecutive month of increase
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Exports posted a 19.4% increment to $7.39 billion in October while imports dropped 6.5% to $11.22 billion
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US remained the top export destination while China was top import source
The continued growth in the country’s exports brought the trade deficit to a 34.2% decline in October, according to preliminary data from the Philippine Statistics Authority.
The balance of trade in goods in October 2025 amounted to US$3.83 billion, indicating a trade deficit of 34.2%, the highest dip so far this year.
Total external trade in goods in October 2025 grew 2.3% to $18.61 billion from $18.20 billion in October 2024, the 10th consecutive month of increase.
Exports likewise had its 10th month in a row of continued growth in October, posting a 19.4% increment to $7.39 billion from $6.19 billion in October last year.
From January-October 2025, exports rose 13.8% year-on-year to $70.43 billion.
Imports, on the other hand, dropped 6.5% to $11.22 billion from $12.01 billion in October last year. Still, it recorded a 4.3% year-on-year increment to $111.75 billion for January to October 2025.
Electronic products, the country’s top import and export commodity group, accounted for $2.97 billion or a share of 26.5% of total imports in October. It was followed by imports of mineral fuels, lubricants and related materials at $.36 billion, and transport equipment with $908.68 million.
In terms of exports, electronic products’ total earnings of $4.18 billion secured 56.6% of the total export bill. Machinery and transport equipment followed with $426.07 million, and other manufactured goods with $394.76 million.
By major type of goods, exports of manufactured goods contributed the largest to the country’s total exports in October 2025, amounting to $6.02 billion or a share of 81.5%. This was followed by agro-based products with a share of $599.00 million, and mineral products with $586.58 million.
Imports of raw materials and intermediate goods, meanwhile, accounted for the biggest share in imports in October 2025 with $4.18 billion or 37.3%%. It was followed by capital goods with $3.34 billion, and consumer goods with $2.30 billion.
READ: PH sustains export growth in September 2025, trade deficit down 14.7%
China remained the country’s top import supplier, cornering 30.4% or $3.41 billion of the total import bill in October. The four other top import sources for the period were Japan, $915.13 million; Indonesia, $795.77 million; South Korea, $775.28 million; and Thailand, $703.56 million.
For exports, the U.S. accounted for the highest value in October amounting to $1.16 billion or a share of 15.7%. The other top export destinations were Japan, $1.04 billion; Hong Kong, $964.50 million; China, $868.44 million; and Germany, $347.26 million.
READ: PH agri exports to US now exempt from 19% reciprocal tariff
