The country’s trade deficit fell by 8.8 percent in June this year as exports recorded double-digit growth, preliminary data from the Philippine Statistics Authority (PSA) showed.
Data released Wednesday showed the balance of trade in goods or the difference between the value of exports and imports, amounted to a deficit of USD3.95 billion, down from the USD4.33 billion recorded in June last year.
Export sales went up by 26.1 percent to USD7.02 billion from USD5.57 billion in June 2025.
By commodity group, the PSA said electronic products continued to be the country’s top exports in June 2025 with total earnings of USD3.89 billion or 55.4 percent of the total exports during the month.
This was followed by other mineral products and other manufactured goods.
Exports to the United States comprised the highest export value amounting to USD1.21 billion.
Other major trading partners include Hong Kong, Japan, People’s Republic of China, and Singapore.
The total value of imported goods, meanwhile, rose by 10.8 percent to USD10.97 billion from USD9.90 billion in June last year.
Electronic products, which amounted to USD2.56 billion, recorded the highest import value among commodity groups.
This was followed by mineral fuels, lubricants and related materials at USD1.40 billion and transport equipment at USD1.32 billion.
China was the country’s largest supplier of imported goods valued at USD3.10 billion or 28.2 percent of the country’s total imports in June 2025.
Other top sources of imports were Japan, Republic of Korea, Indonesia, and Thailand. (PNA)
