June trade data revealed a $4.94‑billion deficit in goods, up 12.3 percent from the same month last year. The gap narrowed from May’s $6.1‑billion shortfall, marking the smallest deficit in four months. The Philippines has run a deficit for more than a decade, with the last surplus recorded in May 2015.
Exports climbed 24.1 percent to $8.77 billion, the highest level of outbound sales since the series began in 1991. Merchandise exports increased 13.09 percent year‑over‑year, driven largely by electronic products and semiconductors.
Imports rose 19.6 percent to $13.71 billion, up 17.84 percent from a year earlier. Raw materials and intermediate goods accounted for 42.9 percent of the import bill, jumping 53.4 percent to $5.89 billion.
Electronic goods dominated the trade flow, representing 59.9 percent of exports and 34.8 percent of imports. Semiconductor exports grew 33.4 percent to $3.85 billion, while imports of semiconductors more than doubled to $3.76 billion.
Exports of mineral products fell 17.7 percent to $414.85 million, and mineral fuels imports increased 6.3 percent to $1.62 billion.
The United States remained the top export destination at $1.76 billion, followed by Hong Kong, China, Japan, and Singapore. China led imports at $4.35 billion, with Korea, Japan, Indonesia, and the United States also significant suppliers.
The surge in trade is linked to growing demand for artificial intelligence, the Internet of Things, and hyperscale data centers. A planned AI hub in Tarlac under a new industrial initiative is expected to raise the country’s share of high‑value semiconductor exports, though concerns about water and energy use persist.
Projections for the year anticipate 3 percent growth in exports and 5 percent growth in imports, reflecting continued momentum in the electronics and technology sectors.
