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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 Philippine exports led to a 34.2% decline in trade deficit in October, the highest dip so far this year, according to preliminary data from the Philippine Statistics Authority.
The balance of trade in goods in October 2025 amounted to US$3.83 billion. 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 grew for the 10th straight month in October, up 19.4% 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
