Insights for Philippines

MoM insights: 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.

YoY insights: 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.