Phl trade deficit narrows in July as exports surge 17%

The country’s trade deficit narrowed in July 2025 as exports posted double-digit growth, data from the Philippine Statistics Authority (PSA) showed.

The balance of trade in goods declined by 17 percent to USD 4.05 billion in July from USD 4.8 billion in the same month last year.

Export sales jumped 17.3 percent to USD 7.3 billion from USD 6.2 billion in July 2024, boosted mainly by shipments of electronic products, other mineral products, and gold.

Electronic products remained the top export, with earnings of USD 3.92 billion or 53.5 percent of total outbound shipments. By country, the United States was the Philippines’ top export market at USD 1.16 billion, followed by Hong Kong, Japan, China, and the Netherlands.

Imports, on the other hand, inched up by 2.3 percent to USD 11.4 billion from USD 11.1 billion last year. Electronic products accounted for the largest share at USD 2.80 billion or 24.6 percent of total imports, followed by mineral fuels, lubricants and related materials, and transport equipment.

China remained the Philippines’ top source of imports, trailed by Korea, Indonesia, Japan, and the United States.