2025.10.3001:55:31UTC+00Philippines Trade Deficit Narrows in September

In September 2025, the Philippines saw its trade deficit reduce to USD 4.35 billion, down from USD 5.10 billion in September of the previous year. This improvement was largely attributed to a 15.9% year-over-year increase in exports, which reached USD 7.25 billion. This surge was mainly propelled by significant rises in the exports of electronic products (up 27.9%), other mineral products (up 24.8%), and machinery and transport equipment (up 60.6%). The United States emerged as the leading export destination, receiving 15.3% of total exports despite a 19% tariff implemented in early August. Other significant markets included Hong Kong (15.1%), China (13.2%), and Japan (12.2%).

On the other hand, imports experienced a slower growth rate of 2.1%, reaching USD 11.60 billion. This increase was primarily driven by higher imports of electronic products, which surged by 26.4%. China maintained its position as the largest source of imports, comprising 28.4% of the total inbound shipments, followed by South Korea (9.1%), Japan (8.1%), and Indonesia (7.1%). Over the first three quarters of the year, the trade deficit contracted to USD 37.18 billion, down from USD 39.43 billion in 2024.