The country’s trade deficit recorded a double-digit decline in August this year, the Philippine Statistics Authority (PSA) said.

Preliminary data released Tuesday showed the balance of trade in goods, or the difference between the value of exports and imports, went down by 19.4 percent to $3.54 billion from $4.39 billion in August last year.

Total export sales increased by 4.6 percent to $7.06 billion from $6.75 billion in August last year.

Exports of electronic products which reached $3.87 billion, continued to be the country’s top exports in August.

This was followed by other mineral products, machinery and transport equipment.

By major trading partner, exports to Hong Kong comprised the highest export value amounting to $1.19 billion or 16.9 percent of the country’s total exports during the month.

Other major export trading partners include the United States, Japan, China, and Taiwan.

The value of imported goods on the other hand, reached $10.60 billion, down by 4.9 percent from the $11.15 billion in August 2024.

The PSA said the commodity group with the highest import value in August 2025 was electronic products, which amounted to $2.74 billion, followed by mineral fuels, lubricants and related materials and transport equipment.

Top sources of imports were China, South Korea, Indonesia, Japan and the United States.

PPA PHOTO