PH trade gap widens to $5.15B in September 2026

The Philippines' trade deficit continued to widen in September 2026 as growth of imports outpaced export growth, preliminary data released by the Philippine Statistics Authority (PSA) on Friday showed.

The balance of trade in goods—the difference between the value of exports and imports— stood at $5.15 billion in September, up 10.3% from a trade shortfall of $4.67 billion in the same month last year.

The wider trade deficit resulted from higher import receipts at $15.03 billion, up 25.7% from $11.95 billion year-on-year; still outpacing exports despite growing by 35.6% to $9.87 billion, from $7.28 billion a year ago.

The $15.03-billion imports recorded in September “was the highest recorded since the series began in 1991.”

In September, the commodity group with the highest annual increment in the value of imported goods was electronic products with $2.70 billion.

This was followed by mineral fuels, lubricants and related materials, which increased by $687.02 million, and cereals and cereal preparations with an annual increment of $98.36 million.

Republic of Korea was the country’s largest supplier of imported goods valued at $3.92 billion or 26.1% of the country’s total imports in September.

Completing the top five import trading partners for the month were:

• People’s Republic of China - $3.36 billion (22.3%)
• Indonesia - $994.43 million (6.6%)
• Japan - $952.13 million (6.3%)
• USA - $744.66 million (5.0%)

Meanwhile, the $9.87-billion exports sales seen in September was also the highest recorded since the series began in 1991.

The commodity group with the highest annual increment in the value of exports was electronic products with $2.89 billion.

This was followed by electronic equipment and parts with an annual increase of $64.41 million, and gold with an annual increment of $59.52 million.

By major trading partner, exports to the USA recorded the highest export value amounting to $2.63 billion or a share of 26.6% to the country’s total exports in September 2026.

Completing the top five export trading partners for the month were:

• Hong Kong - $1.55 billion (15.7%)
• People’s Republic of China - $1.12 billion (11.3%)
• Vietnam - $785.15 million (8.0%)
• Japan - $619.17 million (6.3%).

Moreover, the country’s total external trade in goods, the sum of imports and exports, stood at $24.90 billion, up 29.5% from $19.24 billion in total external trade in the same period last year.

“The total external trade in September 2026 was the highest recorded since the series began in 1991,” the PSA said. — RSJ, GMA News