1.  Overview the trade of PHILIPPINES in goods current year until 202306

According to Dalian Infobank, in 202306, PHILIPPINES's exports and imports of goods amounted to 18015.3877 million, and were down 9.27% comparing with the same period of last year. Among these, exports were up 0.89% at 6703.0064 million, and imports were down 14.38% at 11312.3813 million. And the corresponding trade deficit was 4609.3749 million and down 29.82%.

During the current year until 202306, PHILIPPINES's total exports and imports of goods were 101763.4015 million and were down 8.73% comparing to the same period of last year. Among these, exports were 34944.1865 million and down 9.30%; imports were 66819.2149 million and down 8.44%. The total trade deficit was 31875.0284 million and down 7.47%.

If considering by country (region), CHINA, JAPAN, UNITED STATES, INDONESIA, SOUTH KOREA were PHILIPPINES's top five trading partners. During the current year until 202306, PHILIPPINES's imports and exports to five countries/territories were 20443.9446 million, 10726.4751 million, 9778.5933 million, 6686.2709 million, 6092.7479 million. These values correspond to 20.09%, 10.54%, 9.61%, 6.57%, 5.99% of PHILIPPINES's imports and exports, and, respectively, were up 3.05%, down 12.61%, down 8.62%, up 3.73%, down 29.30% comparing to the same period of last year.

Current year until 202306, PHILIPPINES and the top five trade partners CHINA, UNITED STATES, JAPAN, HONG KONG CN, SINGAPORE are the top five countries/territories that PHILIPPINES exports to in terms of the total export amount. During the current year until 202306, PHILIPPINES's exports to these five countries/territories were 5584.0946 million, 5220.3900 million, 5187.6453 million, 3835.3674 million, 1867.8685 million. These values correspond to 15.98%, 14.94%, 14.85%, 10.98%, 5.35% of PHILIPPINES's exports and, respectively, were down 0.07%, down 12.04%, down 6.10%, down 21.84%, down 26.26% comparing with the same period of last year.

Current year until 202306, PHILIPPINES's exports to top five countries/territories CHINA, INDONESIA, JAPAN, UNITED STATES, SOUTH KOREA are the top five countries/territories that PHILIPPINES imports from in terms of the total export amount. During the current year until 202306, PHILIPPINES's imports from these five countries/territories were 14859.8500 million, 6338.8511 million, 5538.8298 million, 4558.2033 million, 4506.5885 million. These values correspond to 22.24%, 9.49%, 8.29%, 6.82%, 6.74% of PHILIPPINES's total imports and, respectively, were up 4.28%, up 4.38%, down 17.94%, down 4.37%, down 37.11% comparing with the same period of last year.

During the current year until 202306, the trade surplus of PHILIPPINES was mainly from HONG KONG CN, NETHERLANDS, UNITED STATES, MEXICO, GERMANY at 2729.4817 million, 1162.8564 million, 662.1867 million, 189.0465 million, 157.4813 million, and down 12.94%, up 21.97%, down 43.35%, down 22.16%, down 46.46%. And the trade deficits were mainly from CHINA, INDONESIA, SOUTH KOREA, THAILAND, SINGAPORE at 9275.7555 million, 5991.4313 million, 2920.4291 million, 2453.3156 million, 2123.4843 million, and up 7.08%, up 5.11%, down 48.89%, up 19.88%, up 14.86%.

Current year until 202306, PHILIPPINES's trade surplus or deficit with top five countries/territories During the current year until 202306,  commodities with hs2 codes, 85, 27, 84, 87, 26, were PHILIPPINES's top five traded commodities. They correspond to the import and export values of 31949.1752 million, 11060.3973 million, 8241.7349 million, 5354.5441 million, 3261.4886 million, which were down 3.12%, down 22.08%, down 11.67%, up 20.23%, up 139.36% comparing with the same period of last year and account for 31.40%, 10.87%, 8.10%, 5.26%, 3.20% of PHILIPPINES's total imports and exports.

During the current year until 202306, 85, 84, 74, 90, 26 were PHILIPPINES's top five traded commodities, with total import and export values of 18701.3822 million, 2778.6708 million, 1200.8045 million, 1195.4392 million, 1140.6068 million. These values correspond to 53.52%, 7.95%, 3.44%, 3.42%, 3.26% of PHILIPPINES's total exports and, respectively, were up 1.33%, down 24.78%, down 11.47%, up 5.04%, up 17.05% comparing to the same period of last year.

During the current year until 202306, 85, 27, 84, 87, 72 were PHILIPPINES's top five traded commodities, with total import values of 13247.7930 million, 10608.9221 million, 5463.0641 million, 4890.6529 million, 2178.8811 million. These values correspond to 19.83%, 15.88%, 8.18%, 7.32%, 3.26% of PHILIPPINES's total exports and, respectively, were down 8.77%, down 20.54%, down 3.08%, up 23.70%, down 24.33% comparing to the same period of last year.

2. Current year until 202306, PHILIPPINES binational trade profile

According to Dalian Infobank, during the current year until 202306, PHILIPPINES-China binational exports and imports of goods amounted to 20443.9446 million and were up 3.05% comparing with the same period of last year. Among these, exports from PHILIPPINES to China were 5584.0946 million and down 0.07%, imports from China to PHILIPPINES were 14859.8500 million and up 4.28%. The total binational trade deficit was 9275.7555 million and up 7.08%.

During the urrent year until 202306, commodities with hs2 code, 85, 84, 27, 72, 73, were binational trade's top five traded commodities. They correspond to import and export values of 5604.0483 million, 2021.1440 million, 1959.4623 million, 1211.4109 million, 912.1654 million and makes up 27.41%, 9.89%, 9.58%, 5.93%, 4.46% of the total binational imports and exports. These values were also up 0.45%, up 1.10%, up 58.07%, up 1.37%, up 5.40% comparing to the same period last year.

During the current year until 202306, 85, 26, 74, 08, 84 were the top five traded commodities exported to China from PHILIPPINES, with export values of 2795.2937 million, 731.6759 million, 511.0098 million, 284.4468 million, 269.8214 million. These values account for 50.06%, 13.10%, 9.15%, 5.09%, 4.83% of PHILIPPINES's total exports and were up 20.85%, up 18.85%, down 22.68%, up 4.93%, down 27.71% comparing to the same period of last year.

During the current year until 202306, 85, 27, 84, 72, 73 were PHILIPPINES's top five traded commodities importing from China , with import values of 2808.7547 million, 1760.3035 million, 1751.3226 million, 1208.2798 million, 904.3108 million. These values account for 18.90%, 11.85%, 11.79%, 8.13%, 6.09% of PHILIPPINES's total imports and were down 13.99%, up 102.59%, up 7.72%, up 1.49%, up 4.82% comparing with the same period of last year.

3.Analysis of import and export trends

Data Source: Philippines National Statistics Office