MANILA – Electronic products powered the Philippines’ export in March, accounting for the bulk of outbound shipments of the country’s total external trade, preliminary data from the Philippine Statistics Authority (PSA) showed.
The PSA reported that total external trade in goods climbed 15.3 percent to $20.85 billion in March, the highest recorded since 1991, up from $8.07 billion in the same month last year.
Exports posted a strong 20.4 percent increase to $8.17 billion, driven largely by electronic products, which remained the country’s top export. Shipments of electronics reached $4.82 billion, making up nearly 60 percent of total exports for the month.
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Other export commodities trailed far behind, with machinery and transport equipment generating $407.22 million, followed by other manufactured goods at $402.73 million.
The United States, Hong Kong, Japan, China, and Taiwan emerged as the leading destinations for Philippine exports, reflecting sustained global demand, particularly for electronics.
Despite the robust export performance, imports continued to account for the larger share of trade. Total imports rose 12.3 percent to $12.68 billion, representing 60.8 percent of overall trade, while exports comprised 39.2 percent.
The country’s trade deficit stood at $4.50 billion in March, slightly narrower than the $4.51 billion gap recorded a year earlier.
Imports were largely composed of raw materials and intermediate goods, which totaled $4.60 billion, indicating continued reliance on foreign inputs to support domestic manufacturing, including electronics production.
Capital goods and consumer goods followed as the next major import categories.
China remained the Philippines’ top source of imports, accounting for $3.50 billion or 27.6 percent of the total. Other key suppliers included South Korea, Japan, Indonesia, and the United States.
The latest figures highlight the Philippines’ continued dependence on electronics as a key export driver, underpinning overall trade growth amid steady global demand.
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