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Philippines Net Trade (Goods & Services, BoP)

Philippines' net trade (goods & services, bop) rose to $-54.16 billion in 2024, up from $-47.85 billion in 2023, according to World Bank. This represents an increase of 13.2% ($6.31 billion) from the previous year. The Philippines has the 3rd lowest net trade (goods & services, bop). Other bottom countries are United States, India, Japan and United Kingdom.

Yearly Historical Data (1977-2024)

(in Billion USD)
Year Net Trade (Goods & Services, BoP) (Billion USD)
2024 -54.16
2023 -47.85
2022 -53.81
2021 -38.77
2020 -19.91
2019 -36.27
2018 -39.36
2017 -31.52
2016 -28.51
2015 -17.85
2014 -12.75
2013 -10.65
2012 -12.75
2011 -13.87
2010 -11.09
2009 -8.96
2008 -16.68
2007 -8.01
2006 -6.98
2005 -10
2004 -7.46
2003 -7.81
2002 -7.53
2001 -8.55
2000 -7.84
1999 -7.6
1998 -2.66
1997 -10.11
1996 -7.82
1995 -6.52
1994 -5.74
1993 -4.64
1992 -2.26
1991 -1.36
1990 -2.54
1989 -0.94
1988 0.02
1987 0.17
1986 1.81
1985 0.89
1984 -0.23
1983 -2.41
1982 -2.66
1981 -2.06
1980 -1.93
1979 -1.65
1978 -1.29
1977 -0.89
Philippines Net Trade (Goods & Services, BoP) : Definition
Net Trade (Goods & Services, BoP) measures the difference between exports and imports of goods and services in Philippines, recorded on a Balance of Payments basis and measured in current US dollars. A positive value indicates a trade surplus, while a negative value indicates a trade deficit.
Indicator Last Value Prior Value Period
Annual Exports $72.98B $72.92B 2024
Annual Imports $134.88B $133.75B 2024
Balance of Trade -$3.5B -$4.4B Aug'25
Exports $7.1B $7.3B Aug'25
Exports (% GDP) 25.77% 26.64% 2024
FDI Inflows (% GDP) 1.93% 2.04% 2024
Imports $10.6B $11.8B Aug'25
Imports (% GDP) 40.11% 40.78% 2024
Tariff Rate 3.94% 4.01% 2022
Trade (% GDP) 65.89% 67.42% 2024