The Philippines’ trade deficit eased 26.1 percent in April 2025, as exports increase and imports fell, according to the Philippine Statistics Authority.
Data from the PSA showed that the trade deficit amounted to $3.49 billion in April, down from the $4.72-shortfall a year ago.
Merchandise exports rose 7 percent year-on-year in April, driven by sustained demand from the United States.
Overall export sales in April amounted to $6.75 billion, an increase from $6.30 billion a year earlier. However, this figure was slightly lower than the $6.77 billion recorded in March.
Exports to the U.S. rose 10.6 percent in April to $1.03 billion, up from $971 million a year ago.
Imports, meanwhile, declined 7.2 percent in April to $10.24 billion. This resulted in a 26.1-percent reduction in the trade deficit, which fell to $3.49 billion from a $4.72 billion shortfall a year ago.
For the first four months of 2025, Philippine exports reached $26.87 billion, marking an annual growth of 9.5 percent from $24.54 billion in the same period last year. Imports in the first four months increased 5.6 percent to $42.78 billion from $40.53 billion a year earlier.
Electronic products continued to be the Philippines’ top export in April 2025, bringing in $3.41 billion, or 50.5 percent of total exports. This was followed by other manufactured goods at $843.60 million (12.5 percent) and other mineral products at $291.61 million (4.3 percent).
By major type of goods, manufactured goods contributed the most to total exports in April 2025, accounting for $5.46 billion or 80.9 percent of the total. Agro-based products followed with $595.21 million (8.8 percent), and mineral products contributed $480.86 million (7.1 percent).
The United States was the Philippines’ largest export market in April 2025, with exports valued at $1.03 billion, representing a 15.2 percent share of total exports. The other top export trading partners were Hong Kong ($918.74 million), Japan ($893.60 million), China ($697.63 million) and Canada ($478.50 million).
The commodity group with the highest import value in April was electronic products, totaling $2.31 billion, or 22.6 percent of all imports. This was followed by transport equipment at $1.20 billion and mineral fuels, lubricant, and related materials at $1.08 billion.
Imports from China reached $3.01 billion in April, making up 29.4 percent of the country’s total imports.
