Insights for Philippines

MoM insights: 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%).

YoY insights: 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%).