Manila: The Philippines' total external trade in goods rose 13 percent year-on-year to USD17.51 billion in December 2025 from USD15.49 billion, preliminary data from the Philippine Statistics Authority (PSA) showed Tuesday. The growth was faster than the 9 percent expansion in November 2025 and reversed the 1.6 percent contraction recorded in December 2024.
According to Philippines News Agency, imports accounted for 60.1 percent of total trade, while exports made up the remaining 39.9 percent. The country's trade balance improved, with the trade deficit narrowing to USD3.52 billion, following a 15-percent annual decline compared with a 19.9 percent decline at end-November 2025. In December 2024, the trade balance posted a 0.8 percent change.
Exports surged 23.3 percent year-on-year to USD6.99 billion in December 2025 from USD5.67 billion, despite concerns over the impact of US trade policies. PSA said December export receipts were the highest since October 2024, when exports reached USD7.45 billion. Export growth was driven by electronic products, which reached USD1.23 billion, as well as fresh bananas at USD112.23 million and gold at USD74.23 million.
Manufactured goods remained the top export contributor at 79.9 percent, or USD5.59 billion, followed by agro-based products at 10.5 percent, or USD732.09 million, and mineral products at 7.4 percent, or USD514.85 million. Most exports went to Asia-Pacific Economic Cooperation (APEC) member economies, which accounted for 81.7 percent, followed by East Asia and countries under the Regional Comprehensive Economic Partnership (RCEP).
Rizal Commercial Banking Corporation chief economist Michael Ricafort attributed the growth to greater diversification of Philippine exports to markets in Asia, the Middle East, Europe, and other regions worldwide. He said free trade agreements (FTAs) with other countries also helped drive the growth of the Philippines' trade transactions. 'Weaker peso exchange rate vs. the US dollar in recent months partly made Philippine exports more price competitive/cheaper from the point of view of international buyers,' Ricafort said.
In terms of imports, total goods reached USD10.52 billion, up 7.1 percent from the USD9.82 billion during the same period in 2024. Electronic products posted the biggest share at USD544.8 million, followed by telecommunications equipment and electrical machinery, up by USD91.64 million; and mineral fuels, lubricants and related materials, up by USD86.75 billion.
