The Philippines recorded a narrower trade deficit in February, although it remained wider compared to the same period last year, according to data released by the Philippine Statistics Authority (PSA).
The country’s balance of trade in goods posted a $3.682-billion deficit, improving from the $4.274-billion shortfall in January but higher than the $2.991-billion deficit recorded in February 2025. A trade deficit indicates that imports exceeded exports during the period.
Total exports reached $7.330 billion in February, up 8.0% from $6.787 billion a year ago and higher than the $7.142 billion recorded in January.
Electronic products led the growth in exports, increasing by $718.92 million to $4.227 billion. This was followed by gold, which rose by $192.17 million to $337.55 million, and machinery and transport equipment, which grew by $134.13 million to $415.22 million.
Manufactured goods accounted for the largest share of exports at $5.961 billion or 81.3% of the total. Mineral products contributed $615.26 million or 8.4%, while agro-based products reached $608.06 million or 8.3%.
The United States remained the top destination for Philippine exports, amounting to $1.41 billion or 19.3% of the total. It was followed by Japan, China, and the Netherlands.
Meanwhile, imports in February totaled $11.012 billion, lower than the $11.416 billion recorded in January but 12.6% higher than the $9.778 billion posted in the same month last year.
Electronic products were also the country’s top import at $2.99 billion or 27.1% of the total. This was followed by mineral fuels at $1.46 billion or 13.3%, and transport equipment at $915.59 million or 8.3%.
By major type, capital goods made up the largest share of imports at $4.15 billion or 37.7%, followed by raw materials and intermediate goods at $3.22 billion or 29.3%, and consumer goods at $2.14 billion or 19.4%.
China remained the Philippines’ biggest source of imports at $3.12 billion or 28.4%, followed by South Korea, Japan, Indonesia, and the United States.
Total trade for February reached $18.343 billion, up 10.7% from $16.565 billion in the same month last year, but slightly lower than the $18.559 billion recorded in January.
