Philippine exports jumped 17.3 percent year-on-year in July 2025 ahead of the imposition by the United States of higher tariff rates.
The Philippine Statistics Authority (PSA) reported Friday that the country’s total external trade in goods amounted to $18.72 billion in July, up 7.7 percent from $17.38 billion in the same month of 2024. In June 2025 and July 2024, the total external trade in goods recorded annual increases of 19.7 percent and 4.6 percent, respectively.
“Of the total external trade in July 2025, 60.8 percent were imported goods, while the remaining 39.2 percent were exported goods,” the PSA said, highlighting the country’s wide trade deficit.
Trade deficit amounted to $4.05 billion in July, it said.
Export sales in July amounted to $7.34 billion, up from $6.25 billion a year ago. This brought total exports in the first seven months of 2025 to 48.62 billion, up 13.9 percent from $42.69 billion a year earlier.
By commodity group, electronic products continued to be the country’s top exports in July 2025 with total earnings of $3.92 billion or 53.5 percent of the total. This was followed by other mineral products with an export value of $522.39 million (7.1 percent), and other manufactured goods with $395.77 million (5.4 percent).
Exports to the United States comprised the highest export value amounting to $1.16 billion or a share of 15.8 percent. The United States announced higher tariff of 19 percent on Philippine goods starting Aug. 7, 2025.
Completing the top five major export trading partners were Hong Kong, $1.12 billion (15.2 percent); Japan, $996.44 million (13.6 percent); China, $832.57 million (11.3 percent); and the Netherlands, $317.25 million (4.3 percent).
Meanwhile, imports rose 2.3 percent to $11.38 billion in July from $11.13 billion a year ago. Total imports in the seven-month period also increased 6.1 percent to $77.09 billion from $72.63 billion.
Electronic imports amounted to $2.80 billion or a share of 24.6 percent to the total imports. This was followed by mineral fuels, lubricants and related materials at $1.32 billion (11.6 percent) and transport equipment at $1 billion (8.8 percent).
Imports from China reached $3.40 billion or 29.9 percent of the total imports. Completing the top five major import trading partners were Korea, $1.01 billion (8.9 percent); Indonesia, $898.40 million (7.9 percent); Japan, $843.13 million (7.4 percent); and the United States, $714.21 million (6.3 percent).
