Philippines: Merchandise trade deficit shrinks in February
Latest reading: In February, the trade balance was USD -3.7 billion, following a USD -4.3 billion figure in the previous month. Over the last 12 months, the trade balance summed to USD -49.7 billion. This marked the smallest deficit since May 2025.
Merchandise exports increased 8.0% in year-on-year terms in February, following 8.7% growth in the prior month. Merchandise imports were up 12.6% in annual terms in February, following a 1.0% drop in the previous month. February’s reading was the strongest since June 2025.