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The country’s balance of trade increased for the eight month in a row in September 2026 to US$-5.15 billion
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Total external trade in goods expanded 29.5% to $24.90 billion, the highest recorded since the international merchandise trade series began in 1991
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Imports saw a 25.7% year-on-year increment to $15.03 billion, while exports continued its growth streak earning $9.87 billion or 35.6% up year-on-year
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Electronic products remain the country’s top commodity, while also expanding its share in exports to 70.1% in September
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South Korea was the country’s top import supplier for the month, outranking China, which since 2017 had been the country’s top import source
The country’s balance of trade increased for the eight month in a row in September 2026 as exports continued to post record high growth during the period, according to preliminary data from the Philippine Statistics Authority (PSA).
The balance of trade in goods in September 2026 reached US$-5.15 billion, indicating a trade deficit with an annual increase of 10.3%.
This, as total external trade in goods registered its 21st consecutive month of increase in September 2026, expanding 29.5% to $24.90 billion from $19.24 billion in September 2025. The total trade in September 2026 was also the highest recorded since PSA’s international merchandise trade series began in 1991.
READ: PH trade deficit narrows by 3.5% in Aug to $3.85B on strong exports
Accounting for 60.3% of the total trade were imports, which saw 25.7% year-on-year increment to $15.03 billion, which was also the highest September import value since 1991. This was also the right month in a row of growth for imports.
Among the commodity groups, electronic products continued to post the highest increase for September, followed by mineral fuels, lubricants and related materials, and cereals and cereal preparations.
From January to September 2026, imports rose 20.3% to $121.11 billion, the highest nine-month figure recorded since 1991.
Exports continued its growth streak for the 21st month, earning $9.87 billion in September 2026, up 35.6% from $7.28 billion in September last year. The September export figure was also the highest recorded for the month since 1991.
Electronic products, electronic equipment and parts, and gold again posted the highest increase in exports in September.
The January to September export value of $73.95 billion was also the highest nine-month figure for exports since 1991, and was also 17.2% higher than the $63.08 billion posted in the same period last year.
Top commodity
Electronic products remain the country’s top commodity group.
Imports of electronic products reached $5.80 billion in September, or a share of 38.6% of total imports during the period. It was followed by mineral fuels, lubricants and related materials at $1.97 billion (13.1%), and transport equipment at $855.14 million (5.7%).
Exports of electronic products also continued to expand its share of total exports, sharing 70.1% or $6.92 billion of the total trade in September. Mineral products came in second with $333.93 million (3.4%), and machinery and transport equipment with $316.54 million (3.2%).
By major types of goods, imports of raw materials and intermediate goods accounted for the largest share of imports in September 2026 at $6.71 billion or 44.6%. This was followed by capital goods with $3.93 billion (26.1%), and consumer goods with $2.36 billion (15.7%).
In terms of exports, manufactured goods remained to contribute the largest share in September with $8.48 billion or a share of 85.9%. Mineral products followed with $693.49 million (7%), and then total agro-based products with $527.24 million (5.3%).
South Korea unseats China as top import supplier
South Korea in September was the country’s top import supplier, outranking China, which since 2017 had been the country’s top import source.
Imports from South Korea reached $3.92 billion or 26.1% of the total in September.
China followed next with $3.36 billion (22.3%), and then Indonesia with $994.43 million (6.6%), Japan with $952.13 million (6.3%), and the U.S. with $744.66 million (5%).
The U.S., meanwhile, was the top export destination, accounting for $2.63 billion or a share of 26.6% of the total. Other major export destinations for September include Hong Kong, $1.55 billion (15.7%); China, $1.12 billion (11.3%); Vietnam, $785.15 million (8%); and Japan, $619.17 million (6.3%).
