Philippines: Merchandise trade balance is stable in January
Latest reading: In January, the trade balance was USD -4.0 billion, unchanged from the prior month. Over the last 12 months, the trade balance summed to USD -48.8 billion.
Merchandise exports were up 7.9% in year-on-year terms in January, following a 23.9% increase in the previous month. Merchandise imports fell 3.1% in year-on-year terms in January, coming on the back of a 12.2% rise in the prior month. January’s reading was the weakest since November 2024.