Philippines: Merchandise exports rise at a softer pace in April
Latest reading: Merchandise exports rose 7.0% on an annual basis in April, following March’s 8.7% increase. Meanwhile, merchandise imports fell 7.2% in annual terms in April (March: +17.8% yoy), marking the weakest result since March 2024.
As a result, the merchandise trade balance improved from the previous month, recording a USD 3.5 billion shortfall in April (March 2025: USD 4.5 billion deficit; April 2024: USD 4.7 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 54.2 billion deficit in April, compared to the USD 55.5 billion deficit in March.