Philippines

In 2013, the value of merchandise exports of the Philippines increased slightly by 3.8 percent to reach 54.0 bln US$, while its merchandise imports decreased slightly by 0.4 percent to reach 65.1 bln US$ (see graph 1, table 2 and table 3). The merchandise trade balance recorded a relatively small deficit of 11.1 bln US$ (see graph 1). The largest merchandise trade balance was with MDG South-eastern Asia at -5.6 bln US$ (see graph 4). Merchandise exports in the Philippines were diversified amongst partners; imports were also diversified. The top 9 partners accounted for 80 percent or more of exports and 13 partners accounted for 80 percent or more of imports (see graph 5). In 2012, the value of exports of services of the Philippines increased moderately by 9.4 percent, reaching 18.1 bln US$, while its imports of services increased substantially by 16.4 percent and reached 14.4 bln US$ (see graph 2). There was a moderate trade in services surplus of 3.7 bln US$.

Related Subject(s): International Trade and Finance

Countries: Philippines