Data Insights

Overall, the Philippines' trade environment in 2026 shows a mixed picture. While imports have seen a significant year-on-year increase, the month-on-month figures indicate a decline, particularly in key trading partners like China and Australia. Exports have shown consistent growth both month-on-month and year-on-year, particularly with strong performances from the United States and Japan. The total trade value reflects a healthy increase, but the recent corruption scandal and trade challenges may impact future performance.

In the month-on-month analysis, the total trade value for the Philippines saw a decrease in imports by 518.89M USD, resulting in a total of 11.61B USD, which is a decline of approximately 4.28%. Exports, on the other hand, increased by 187.69M USD, totaling 7.33B USD, reflecting a growth of about 2.63%. For imports by country, South Korea led with a significant increase of 114.89M USD (8.75%), while China experienced a notable decline of 262.48M USD (-7.43%). In terms of product categories, Integrated Circuits saw the highest increase of 355.81M USD (32.27%), while Small shipments in extra trade (Chapter 98) faced a substantial drop of 314.99M USD (-45.36%). In exports, the United States had the highest increase of 247.94M USD (21.30%), while South Korea faced a decrease of 110.81M USD (-28.00%). Among product categories, Small shipments in extra trade (Chapter 98) surged by 706.77M USD (11,268.50%), while exports of Military Wearing Apparel saw a complete drop to zero, indicating a significant decline.

Year-on-year, the total trade value for imports increased by 1.66B USD, reaching 11.61B USD, which is a growth of approximately 16.72%. Exports also saw a rise of 1.08B USD, totaling 7.33B USD, reflecting a growth of about 17.25%. In imports by country, South Korea had the highest increase of 728.77M USD (104.20%), while Australia faced a decline of 157.79M USD (-55.73%). For product categories, Integrated Circuits led with an increase of 854.96M USD (141.68%), while Commodities not elsewhere specified dropped to zero, indicating a significant decline. In exports, the United States again led with an increase of 425.38M USD (43.10%), while the Netherlands experienced a decrease of 19.70M USD (-5.66%). Among product categories, Small shipments in extra trade (Chapter 98) surged by 769.49M USD (inf), while exports of Commodities not elsewhere specified dropped to zero, indicating a significant decline.

Overall, the Philippines' trade values in January 2026 showed a mixed performance. Imports increased by 475.09 million USD (4.08%) month-on-month and 29.75 million USD (0.25%) year-on-year, while exports rose by 116.69 million USD (1.66%) month-on-month and 771.3 million USD (12.11%) year-on-year. The total trade flow indicates a positive trend in exports, despite some declines in specific import categories.

In January 2026, the Philippines experienced a month-on-month increase in trade values. Imports totaled 12.13 billion USD, reflecting a growth of 475.09 million USD, which is a 4.08% increase. The top three countries contributing to this growth were Japan (1.02 billion USD, +218.2 million USD, +27.14%), South Korea (1.31 billion USD, +210.25 million USD, +19.06%), and China (3.53 billion USD, +180.23 million USD, +5.38%). Conversely, the bottom three were Saudi Arabia (16.92 million USD, -251.33 million USD, -93.69%), France (100.77 million USD, -178.89 million USD, -63.97%), and Bulgaria (1.51 million USD, -72.61 million USD, -97.96%). Exports totaled 7.14 billion USD, with a modest increase of 116.69 million USD, or 1.66%. The leading contributors were South Korea (395.05 million USD, +120.26 million USD, +43.77%), Hong Kong (1.12 billion USD, +71.2 million USD, +6.73%), and Germany (337.06 million USD, +53.75 million USD, +18.9%). The bottom three were Japan (880.01 million USD, -98.56 million USD, -10.07%), China (705.74 million USD, -87.48 million USD, -10.96%), and Singapore (282.09 million USD, -48.24 million USD, -14.64%).

Year-on-year, the Philippines' imports in January 2026 reached 12.13 billion USD, showing a significant increase of 29.75 million USD, or 0.25%. The top contributors were South Korea (1.31 billion USD, +417.04 million USD, +46.53%), Australia (312.81 million USD, +85.84 million USD, +37.82%), and Japan (1.02 billion USD, +54.98 million USD, +5.67%). The bottom three were Saudi Arabia (16.92 million USD, -220.93 million USD, -92.67%), the United Arab Emirates (72.6 million USD, -138.89 million USD, -65.67%), and Canada (53.46 million USD, -109.43 million USD, -67.71%). Exports totaled 7.14 billion USD, with a notable increase of 771.3 million USD, or 12.11%. The leading countries were Hong Kong (1.12 billion USD, +400.03 million USD, +55.17%), South Korea (395.05 million USD, +132.37 million USD, +50.39%), and Chinese Taipei (324.1 million USD, +124.55 million USD, +62.42%). The bottom three were Australia (45.55 million USD, -117 million USD, -72.24%), Japan (880.01 million USD, -66.05 million USD, -6.97%), and Ireland (9.77 million USD, -33.56 million USD, -77.44%).

Overall, the analysis indicates a positive trend in the Philippines' trade values for both imports and exports. The total imports increased by approximately 133.68 million USD (1.16%) month-on-month and 1.3 billion USD (12.59%) year-on-year. Exports also showed growth, with a month-on-month increase of 99.54 million USD (1.44%) and a year-on-year rise of 1.37 billion USD (24.20%). This reflects a robust trade performance despite some declines in specific countries and product categories.

In the month-on-month analysis, the total trade value for imports increased by approximately 133.68 million USD, reflecting a growth of about 1.16%. The top three countries contributing to this increase were Saudi Arabia with a significant rise of 203.79 million USD (3.16%), China with an increase of 190.32 million USD (6.03%), and Germany with a growth of 74.03 million USD (37.10%). Conversely, the bottom three countries showing declines were Indonesia with a drop of 118.47 million USD (-13.34%), Japan with a decrease of 88.7 million USD (-9.99%), and Kuwait with a significant decline of 73.75 million USD (-99.84%). For exports, the total value increased by 99.54 million USD, or 1.44%. The top contributors were Japan with an increase of 106.29 million USD (12.18%), China with 92.59 million USD (13.19%), and Switzerland with 40.74 million USD (67.87%). The bottom three were Hong Kong with a decrease of 114.98 million USD (-9.87%), the United States with a drop of 55.02 million USD (-4.71%), and Italy with a decline of 39.9 million USD (-78.19%).

In the year-on-year analysis, the total imports saw a significant increase of approximately 1.3 billion USD, representing a growth of about 12.59%. The top three countries contributing to this growth were China with an increase of 592.34 million USD (21.49%), South Korea with a rise of 296.1 million USD (36.69%), and Germany with a growth of 125.91 million USD (85.27%). The bottom three countries with declines were Japan with a decrease of 124.99 million USD (-13.45%), Vietnam with a drop of 77.84 million USD (-17.94%), and Peru with a significant decline of 60.16 million USD (-98.17%). For exports, the total value increased by 1.37 billion USD, or 24.20%. The top contributors were Hong Kong with an increase of 439.6 million USD (71.58%), Japan with a rise of 216.39 million USD (28.25%), and the United States with a growth of 162.84 million USD (17.18%). The bottom three were Indonesia with a decrease of 35.5 million USD (-40.09%), Czechia with a drop of 28.93 million USD (-47.39%), and India with a decline of 23.98 million USD (-19.86%).

Overall, the total trade for the Philippines showed a month-on-month increase in imports of 1.39B (12.43%) to reach 12.59B, while exports increased by 211.09M (2.99%) to 7.27B. Year-on-year, imports rose by 512.96M (4.27%) to 12.59B, and exports increased by 1.02B (16.24%) to 7.27B. The trade balance remains a critical area of focus as imports continue to grow at a faster rate than exports.

In the month-on-month analysis, imports from Japan saw the highest increase with a trade value of 1.02B, reflecting a significant value change of 249.76M (32.33% increase). South Korea followed closely with imports valued at 1.14B, increasing by 239.86M (26.52%). Vietnam also showed strong growth with imports of 713.97M, up by 229.57M (47.39%). On the lower end, imports from Hong Kong decreased to 146.67M, down by 40.44M (-21.61%). New Zealand's imports fell to 26.16M, a decrease of 25.42M (-49.27%). Papua New Guinea had the lowest imports at 5.73M, down by 12.36M (-68.33%). For exports, China led with 965.03M, an increase of 115.71M (13.62%). Italy's exports rose to 55.64M, up by 42.44M (321.39%). The Netherlands also saw a rise to 325.84M, increasing by 39.81M (13.92%). Conversely, exports to Hong Kong dropped to 1.1B, down by 93.42M (-7.84%). Japan's exports decreased to 885.79M, down by 93.21M (-9.52%). Switzerland's exports fell to 57.43M, down by 45.76M (-44.43%).

In the year-on-year analysis, imports from China showed the most significant growth, reaching 3.54B with a value change of 548.17M (18.35% increase). South Korea's imports increased to 1.14B, up by 329.5M (40.43%). Vietnam's imports also rose to 713.97M, increasing by 219.08M (44.27%). On the downside, imports from Australia fell to 218.81M, down by 313.86M (-58.92%). Indonesia's imports decreased to 884.96M, down by 292.85M (-24.83%). Brazil's imports dropped to 151.74M, down by 102.66M (-40.38%). For exports, Hong Kong led with 1.1B, increasing by 230.09M (26.53%). China's exports rose to 965.03M, up by 134.57M (16.16%). Chinese Taipei's exports increased to 317.29M, up by 125.45M (65.40%). On the lower end, exports to South Korea fell to 289.32M, down by 29.18M (-9.17%). Exports to Brunei dropped to 692.75K, down by 24.09M (-97.20%). Thailand's exports decreased to 222.36M, down by 23.22M (-9.43%).