Philippines' June Trade Deficit Widens as Imports Outpace Record Exports

MANILA, Philippines — The country’s trade deficit widened in June from a year ago, as imports outpaced record-high exports, according to the Philippine Statistics Authority (PSA). PSA data showed that the balance of trade in goods, or the difference between exports and imports value, amounted to a $4.94-billion deficit in June, 12 percent higher than the $4.40-billion shortfall in the same month last year. While the deficit widened year-on-year, it was the lowest recorded since February, when the shortfall was at $4.01 billion. From January to June, the country’s trade deficit widened by 26 percent to $30.81 billion from $24.48 billion in the same period last year. The PSA said that in June, the country recorded its highest export sales since 1991. In particular, the country’s total exports of goods rose by 24 percent to $8.77 billion in June from $7.07 billion in the same month of 2025. By commodity group, electronic products continued to be the country’s top exports in June, with total earnings rising by 35 percent to $5.25 billion from $3.89 billion a year ago. In terms of export markets, the United States was the top destination for Philippine exports, accounting for $1.76 billion or 20 percent of the total in June. From January to June, exports rose by 13 percent to $46.72 billion from $41.31 billion in the same period last year. Trade Secretary Cristina Roque said the record export performance in June shows continued investment by exporters despite uncertainties. She said the government would continue to help the country’s exporters succeed. “The DTI (Department of Trade and Industry) will prioritize building stronger connections with more trade shows, opening more market opportunities by leveraging our FTAs (free trade agreements) and providing the support our enterprises need to grow globally by linking them with investors and buyers.” Meanwhile, goods imported by the country rose by 20 percent to $13.71 billion in June from $11.46 billion in the same month last year. Electronic products also accounted for the biggest share of imports in June at 35 percent or $4.77 billion. China remained the country’s largest supplier of imported goods, valued at $4.35 billion, or 32 percent of the total, in June. Total imports in the first semester amounted to $77.53 billion, 18 percent higher than the $65.79 billion worth of goods imported in the same period last year. The PSA said the first half import value was the highest recorded since the series began in 1991.