Trade gap widens to $4.51-B in March 2026

The Philippines saw a wider trade deficit in March this year as the value of imports continue to outpace exports during the period, data released by the Philippine Statistics Authority (PSA) showed Thursday.

Preliminary PSA figures showed the country’s balance of trade in goods — the difference between the value of exports and imports — posted a deficit of $4.511 billion last month, higher than $4.014 billion-billion trade gap seen in February and $4.509 billion in March 2025.

“The balance of trade in goods in March 2026 was the highest deficit recorded since September 2025 with $4.67 billion,” the PSA said.

A deficit indicates that the value of a country’s imports exceeded export receipts, while a surplus indicates more export shipments than imports.

Meanwhile, total external trade in goods —the sum of total value of imports and exports— stood at $20.85 billion, up 15.3% from $18.07 billion year-on-year.

“The total external trade in March 2026 was the highest recorded since the series began in 1991,” the PSA said.

The total value of the country’s imported goods amounted to $12.68 billion last month —its highest since the 1991– up 12.3% from $11.29 billion in the same month last year.

“In March 2026, the commodity group with the highest annual increment in the value of imported goods was electronic products with $1.14 billion,” the PSA said.

“This was followed by mineral fuels, lubricants and related material, which increased by $519.94 million, and cereals and cereal preparations with an annual increment of $127.35 million,” it said.

The country’s exports, on the other hand, grew by 20.4% to $8.17 billion from $6.78 billion year-on-year.

The export sales in March was the highest recorded since the series began in 1991, according to the PSA.

The commodity group with the highest annual increment in the value of exports in was electronic products with $1.20 billion. 

This was followed by machinery and transport equipment with an annual increase of $168.55 million, and gold with an annual increment of $156.88 million. —VAL, GMA News