Philippine trade deficit fell 11.4% in February

MANILA, Philippines — Philippine trade deficit fell by 11.4 percent year-on-year in February to $3.16 billion as export receipts expanded while import spending contracted.

Total external trade in goods amounted to $15.66 billion, up 0.4 percent from the level in the same period in 2024, the Philippine Statistics Authority reported on Friday, citing preliminary data.

Of the total external trade in February, 60.1 percent consisted of imported goods, while the remaining 39.9 percent were exported goods.

The country’s total export sales in February amounted to $6.25 billion, growing by 3.9 percent from the receipts in the same month last year.

On the other hand, the total value of imported goods amounted to $9.41 billion, indicating an annual decline of 1.8 percent year-on-year.

In January 2025, the trade deficit registered an annual increase of 17.8 percent. – Doris Dumlao-Abadilla

READ: Trade deficit swelled to $5.1B in January