Philippines merchandise exports hit 35-year high

Philippine merchandise exports reached $54.92 billion from January to July 2026, marking the highest seven-month export value since the Philippine Statistics Authority began its current data series in 1991. This represents a 12.9% increase compared to the $48.67 billion recorded during the same period in 2025. The growth is driven largely by strong shipments in the electronics and semiconductor sectors.

Despite the record export performance, the country’s trade deficit widened to $37.34 billion for the first seven months of the year, a 29% increase from the previous year. This widening deficit is attributed to the electronics industry’s heavy reliance on imported components.

Department of Trade and Industry (DTI) Secretary Cristina A. Roque stated that the government aims to sustain this momentum through expanded trade promotion and market-entry initiatives. The DTI is also leveraging free trade agreements (FTAs) to open more markets, with potential upcoming agreements involving the European Union, Canada, and an update to an existing pact with Japan.