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Louella Desiderio - The Philippine Star
November 29, 2025 | 12:00am
This photo shows crates carried by a forklift in the port of Manila.
STAR / File
MANILA, Philippines — The Philippines’ trade deficit in October narrowed to its lowest level in five months as exports posted double-digit growth, while imports declined, according to the Philippine Statistics Authority.
PSA data showed that the country’s balance of trade in goods or the difference between the value of exports and imports in October amounted to a $3.83-billion deficit, down by 34.2 percent from the $5.81 billion gap in the same month last year.
The October trade shortfall is also lower than the $4.67 billion deficit in the previous month.
It is also the narrowest since the $3.63 billion trade deficit in May.
As of end-October, the country posted a slimmer trade gap of $41.32 billion compared to the $45.25 billion in the same period in 2024.
Philippine merchandise export sales grew by 19 percent to $7.39 billion in October from $6.19 billion in the same month a year ago.
Oikonomia Advisory and Research Inc. economist Reinielle Matt Erece said in an email that the strong exports performance in October may have stemmed from the peso depreciation experienced in the same period.
“As the peso becomes cheaper against the dollar, so will Philippine exports be. This increases their attractiveness and consequently their demand,” he said.
Electronic products remained the country’s top export in October with total earnings of $4.18 billion, 44 percent higher than the previous year’s $2.89 billion.
The United States was the top market for Philippine exports, accounting for $1.16 billion or 15.7 percent of the total in October.
From January to October, Philippine exports went up by 13.8 percent to $70.43 billion from $61.90 billion in the same period last year.
While exports increased, the country’s imported goods declined by 6.5 percent to $11.22 billion in October from $12.01 billion in the same month of 2024.
TRADE FROM B1
Electronic products recorded the highest import value among commodity groups, reaching $2.97 billion or 26.5 percent of the total in October.
China remained the largest source of the Philippines’ imported goods amounting to $3.41 billion or 30.4 percent of the total in October.
Total imports from January to October went up by 4.3 percent to $111.75 billion from $107.15 billion in the same period last year.
Trade Secretary Cristina Roque said that the government is hopeful the exports growth would be sustained.
“We’re very aggressive in really pushing for exports, in really strengthening also the business sector,” she said.
She said the government also expects the US’ move to exempt key agricultural products from the reciprocal tariff to support Philippine exports growth.
“This is really a win for the agriculture sector and for those that are in the agriculture business,” she said.
