Philippines: Merchandise exports increase in March
Latest reading: Merchandise exports rose 5.9% year-on-year in March, on the heels of February’s 4.8% increase. Meanwhile, merchandise imports soared 11.9% in annual terms in March (February: +1.9% yoy), marking the strongest reading since April 2024.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 4.1 billion shortfall in March (February 2025: USD 3.5 billion deficit; March 2024: USD 3.4 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 55.8 billion deficit in March, compared to the USD 55.0 billion deficit in February.