The Philippines’ total external trade in goods rose 13 percent year-on-year to $17.51 billion in December 2025 from $15.49 billion, according to preliminary data released Tuesday by the Philippine Statistics Authority (PSA).
The expansion was faster than the 9 percent growth recorded in November 2025 and marked a reversal from the 1.6 percent contraction posted in December 2024.
Imports accounted for 60.1 percent of total trade, while exports comprised the remaining 39.9 percent.
The country’s trade balance improved as the trade deficit narrowed to $3.52 billion, reflecting a 15-percent annual decline compared with a 19.9 percent decrease at the end of November 2025. In December 2024, the trade balance posted a 0.8 percent change.
Exports surged 23.3 percent year-on-year to $6.99 billion in December 2025 from $5.67 billion, despite concerns over the potential impact of US trade policies.
The PSA said export receipts in December were the highest since October 2024, when exports reached $7.45 billion.
Export growth was driven by electronic products, which totaled $1.23 billion, as well as fresh bananas valued at $112.23 million and gold at $74.23 million.
Manufactured goods remained the top export contributor, accounting for 79.9 percent or $5.59 billion, followed by agro-based products at 10.5 percent or $732.09 million, and mineral products at 7.4 percent or $14.85 million.
Most Philippine exports were shipped to Asia-Pacific Economic Cooperation (APEC) member economies, which accounted for 81.7 percent, followed by East Asia and countries under the Regional Comprehensive Economic Partnership (RCEP).
Rizal Commercial Banking Corporation chief economist Michael Ricafort attributed the growth to greater diversification of Philippine exports to markets in Asia, the Middle East, Europe, and other regions worldwide.
He said free trade agreements (FTAs) with other countries also helped drive the growth of the Philippines’ trade transactions.
“Weaker peso exchange rate vs. the US dollar in recent months partly made Philippine exports more price competitive/cheaper from the point of view of international buyers,” Ricafort said.
Imports totaled $10.52 billion in December 2025, up 7.1 percent from $9.82 billion in the same period in 2024.
Electronic products posted the largest import share at $544.8 million, followed by telecommunications equipment and electrical machinery, which rose by $91.64 million, and mineral fuels, lubricants, and related materials, up by $86.75 billion.
PNA PHOTO