26.12.202501:23:30UTC+00Philippines Trade Gap Smallest in 9 Months

In November 2025, the Philippines experienced a reduction in its trade deficit, which decreased to USD 3.51 billion from USD 4.94 billion in November of the previous year. This represents the smallest trade gap since February of the same year. The export sector saw a significant boost, with exports increasing by 21.3% year-on-year to reach USD 6.91 billion. This surge was primarily propelled by a 50.6% rise in the sales of electronic products, which remain the leading export commodity with total earnings of USD 4.19 billion, making up 60.7% of all exports. In terms of export destinations, Hong Kong accounted for the largest share at 16.9%, closely followed by the United States at 16.8%, and Japan at 12.6%.

On the import side, there was a 2% year-on-year decline, bringing the total to USD 10.42 billion. This decrease was largely attributed to the reduced purchase of mineral fuels, lubricants, and related materials, which fell by 18.9%. China maintained its position as the largest source of imports, contributing 27.8%, followed by South Korea at 9.4% and Japan at 7.7%. Over the first eleven months of the year, the trade deficit narrowed to USD 45.2 billion, compared to USD 50.2 billion during the same period in the previous year.