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Patuloy ang paglago ng merchandise trade ng Pilipinas, tuloy-tuloy na kaya ito?

TINGIN SA EKONOMIYA

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SIMULA noong Enero hanggang Oktubre 2025, patuloy ang pagratsada ng merchandise trade ng Pilipinas. Lumago ang year-on-year (YoY) growth ng 8.5%, mas mataas kaysa sa 0.5% noong nakaraang taon. Mas mabilis ang paglago ng exports  na umakyat ng 13.8% kaysa sa imports na lumago rin pero sa mas mababang 4.3%. Mas mataas din ang  mga  antas  na  ito   kumpara sa pagbaba na  -0.5% export growth at ang  matumal na pag-akyat 1.1% ng imports noong kaparehong period noong nakaraang taon.  (Table 1)

Sunud-sunod na double-digit ang pag-akyat ng exports—15.5% noong Mayo,  26.9% noong Hunyo, at 17.6% noong Hulyo, 16.2% noong Setyembre at 19.3% noong Oktubre. Tanging sa Agosto medyo bumababa ang paglago sa 5.5%. (Table

Dahil mas mabilis ang paglago ng exports kaysa sa imports, nahulog nang bahagya  ang trade deficit sa US$44.321 bilyon, 14.5% ng GDP kumpara sa 16.3% noong nakaraang taon.

Sa ganang exports, halos lahat ng major exports ay lumago. Ang pinakamalaking paglago ay naitala ng gold (84.5%), machinery at transport equipment (44.6%), fruits and vegetables (20.0%), electronics (12.6%), at garments at apparel (6.3%).  Tanging bumaba ang chemicals na umurong ng -4.3%.

Sa mga major imports, halos lahat ay lumago nang double-digit kasama ang electronics components (17.8%), telecom equipment at electrical machinery (17.4%), at transport equipment (9.5%). Matumal nang bahagya ang power-generating at electronic data processing machinery (6.1%). Tanging bumaba ang imports ng  minerals fuels and lubricants (-14.7%) dahil sa pagbagsak ng presyo ng langis mula sa US$83.14/bariles noong unang sampung buwan ng nakaraang taon sa US$70.36/bariles ngayong sampung  buwan ng 2025.


Sa mga major export markets ng Pilipinas, pinakamalaki ang paglago ay naipakita ng Australia, Canada, at India na lumago ng 251.9%, 161.1%, at 43.2%, respectively. Ito ang mga bansang labis naapektuhan ng pagtaas ng taripa ng US. Kasunod dito ang Germany (30.6%), Switzerland (29.4%), Mexico (27.0%), Singapore (22.5%), Hongkong (20.4%),  Netherlands (18.9%), United Arab Emirates (16.9%), at Malaysia (15.0%). Samantala, umurong ang exports sa mga bansa sa Asya na dating namamayagpag sa paglago ng trade gaya ng South Korea (-12.0%), Vietnam (-5.5%), China (-4.5%), Vietnam (-3.9%), Indonesia (-3.6%), at Thailand (-3.3%).

Sa kabuuan, kahit na magulo ang sitwasyon ng world trade, malakas ang export at import sektor ng Pilipinas. Ang sektor na ito ay nahasa sa mga pag-akyat at pagbaba ng demand at supply, ang papalit-palit na galaw ng mga presyo, at ang biglang nawawalang market dahil sa giyera at mga kaguluhan. Dahil nasanay na sila sa magulong mundo, mabilis silang tumiwalag sa isang merkado na nagsara at lilipat sa kung saan may pagkakataon. Maliksi silang lilihis at iiwas kapag nawala ang kanilang dating binebentahan. Kasama ang mga Filipino overseas workers, sila ang patuloy na maliksing growth drivers ng ekonomiya.

 TABLE 1. TOTAL TRADE, January-October 2024-2025 JAN-OCT JAN-OCT
  2024 2025
TOTAL TRADE          83,777  

88,079

   Growth Rate 0.5% 8.5%
Exports (US$M) 61,898 70,430
   Growth Rate -0.5% 13.8%
   ELECTRONICS  33,494 37,699
     % Growth -4.5% 12.6%
  MACHINERY & TRANSPORT EQUIPMENT 2,168 2,935
     % Growth 8.6% 44.6%
     FRUITS & VEGETABLES 1,955 2,347
      % Growth 3.1% 20.0%
    GOLD            1,051       1,938
      % Growth 28.7% 84.5%
  CHEMICALS 1,678 1,607
     % Growth 17.1% -4.3%
   GARMENTS & APPAREL 566 601
      % Growth -5.3% 6.3%
Imports (US$M) 83,777 88,079
Growth Rate  (%) 1.1% 4.3%
   POWER GENERATING & IT MACHINERY 8,984 9,753
     % Growth 3.8% 6.1%
   TELECOM EQPMT & ELECTRICAL MACHINERY 14,384 16,885
     % Growth -16.9% 17.4%
   ELECTRONICS COMPONENTS 7,018 8,269
     % Growth -18.1% 17.8%
   MINERAL FUELS & LUBRICANTS 16,388 13,982
     % Growth -3.4% -14.7%
   TRANSPORT EQUIPMENT 9,589 10,500
     % Growth -4.4% 9.5%
Source: Philippine Statistics Authority

 

Table 2. TOTAL MERCHANDISE TRADE, BY MONTH
TOTAL EXPORTS IMPORTS TOTAL EXPORTS IMPORTS
TRADE TRADE
US$ Million YOY % Growth
2024
November 16,330 5,697 10,633 -5.20% -8.60% -3.30%
December 15,491 5,673 9,819 -1.60% -1.90% -1.40%
2025
January 18,069 6,571 11,498 10.6% 9.6% 11.2%
February 16,548 6,787 9,761 6.1% 12.8% 1.9%
March 18,048 6,768 11,280 14.2% 8.7% 17.8%
April 17,538 6,783 10,755 1.2% 7.6% -2.5%
May 18,261 7,315 10,947 5.0% 15.5% -1.1%
June 18,525 7,064 11,461 19.7% 26.9% 15.7%
July 19,122 7,350 11,773 10.0% 17.6% 5.8%
August 18,238 7,126 11,112 1.9% 5.5% -0.3%
September 19,219 7,275 11,944 9.1% 16.2% 5.1%
October 18,612 7,392 11,220 2.3% 19.4% -6.5%
Source: Philippine Statistics Authority

 

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Table 3. Philippine Export Statistics for the Top Ten Countries: October 2024 and 2025
(FOB Value in million USD)
Countries 2024 2025 Annual Growth Rate
(%)
Jan-Oct Percent Share
(%)
Jan-Oct p Percent Share
(%)
 Cumulative
 (3)  (4)  (7)  (8)  (10)
  Total Exports 61,898.42 100.0 70,429.85 100.0 13.8
             
Top 10 Countries Total 50,048.67 80.9 55,167.43 78.3 10.2
1 United States of America 10,212.37 16.5 11,157.89 15.8 9.3
2 Japan 8,651.61 14.0 9,716.33 13.8 12.3
3 Hong Kong 8,390.64 13.6 10,101.07 14.3 20.4
4 People’s Republic of China 7,932.44 12.8 7,803.04 11.1 -1.6
5 Germany 2,124.38 3.4 2,775.01 3.9 30.6
6 South Korea 3,106.28 5.0 2,734.12 3.9 -12.0
7 Singapore 2,369.38 3.8 2,901.99 4.1 22.5
8 Netherlands 2,457.32 4.0 2,921.74 4.1 18.9
9 Republic of China (Taiwan) 2,342.33 3.8 2,675.98 3.8 14.2
10 Thailand 2,461.92 4.0 2,380.27 3.4 -3.3
  Other Countries 11,849.75 19.1 15,262.42 21.7 28.8
11 Malaysia 1,910.66 3.1 2,198.04 3.1 15.0
12 Mexico 754.58 1.2 958.65 1.4 27.0
13 Vietnam 1,389.58 2.2 1,312.52 1.9 -5.5
14 Indonesia 869.87 1.4 838.73 1.2 -3.6
15 India 883.19 1.4 1,264.49 1.8 43.2
16 Australia 464.30 0.8 1,633.99 2.3 251.9
17 Switzerland 469.42 0.8 607.36 0.9 29.4
18 Canada 467.62 0.8 1,221.08 1.7 161.1
19 Spain 263.67 0.4 296.07 0.4 12.3
20 United Arab Emirates 326.81 0.5 382.13 0.5 16.9
21 Others 4,050.04 6.5 4,549.35 6.5 12.3
SOURCE: Philippine Statistics Authority

 

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