Latest reading: In March, the trade balance was USD +5.9 billion, following a USD -0.5 billion figure in the previous...
Merchandise Trade Balance in Philippines
The merchandise trade balance in Philippines averaged USD -35.0 billion in the decade to 2024. The 2024 reading was USD -54.3 billion. For more information on trade, visit our dedicated page.
Philippines Trade Chart
Note: This chart displays Trade Balance (USD billion) for Philippines from 2014 to 2025.
Source: Macrobond.
Philippines Trade Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Merchandise Trade Balance (USD bn) | -42.2 | -57.6 | -52.6 | -54.3 | -49.7 |
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. This was the smallest deficit since May 2025. Over the last 12 months, the trade balance summed to USD -49.7 billion. Merchandise exports rose 8.0% in annual terms in February, following 8.7% growth in the previous month. Merchandise imports were up 12.6% in annual terms in February, following a 1.0% drop in the prior month. February's reading was the strongest since June 2025.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Philippine trade projections for the next ten years from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Philippine trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Philippine trade projections.
Want to get access to the full dataset of Philippine trade forecasts? Send an email to info@focus-economics.com.
Latest Global Trade News
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India: Merchandise trade deficit shrinks in March Latest reading: In March, the trade balance was USD -21.0 billion, following a USD -27.1 billion figure in the prior... -
Spain: Merchandise trade deficit shrinks in February Latest reading: In February, the trade balance was EUR -3.3 billion, following a EUR -4.0 billion reading in the previous...