The Philippines’ trade deficit narrowed significantly by 26.1% in April 2025, driven by increased exports and decreased imports, according to the Philippine Statistics Authority (PSA).
The trade gap dropped to USD3.49 billion from USD4.72 billion in the same month last year. Exports rose by 7%, reaching USD6.75 billion, up from USD6.30 billion in April 2024. Leading the surge were electronic products, which brought in USD3.41 billion, accounting for 50.5% of total exports.
The United States remained the top export destination, receiving USD1.03 billion worth of Philippine goods. Other major trading partners included Hong Kong, Japan, China, and Canada.
Meanwhile, imports dropped by 7.2% to USD10.24 billion, compared to USD11.03 billion in April 2024. The largest decline was seen in mineral fuels, lubricants, and related materials, which fell by USD586.04 million.
Key sources of imports were China, South Korea, Japan, Indonesia, and Thailand.
