Philippines: Merchandise exports increase in January
Latest reading: Merchandise exports climbed 6.3% over the same month last year in January (December: -2.2% year-on-year). January’s figure marked the best result since April 2024. Meanwhile, merchandise imports soared 10.8% on an annual basis in January (December: -1.7% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 5.1 billion deficit in January (December 2024: USD 4.1 billion deficit; January 2024: USD 4.4 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 54.9 billion deficit in January, compared to the USD 54.2 billion deficit in December.