THE country’s trade deficit widened in May from a year earlier as imports surged and exports slowed, preliminary Philippine Statistics Authority data showed on Tuesday.
At $5.48 billion, the shortfall rose from $3.64 billion a year ago. It was, however, narrower compared to April’s $6.43 billion.
Total trade in goods reached $21.23 billion with imports accounting for $13.35 billion and exports $7.83 billion, up 21.9 percent and 7.6 percent, respectively, from a year ago.
Imports rebounded from a 0.9-percent dip a year ago but slowed from 27.3 percent in April, while exports growth slowed from 15.5 percent but improved from 7.2 percent a year and a month earlier, respectively.
Year-to-date, the trade deficit increased to $25.24 billion from $20.08 billion in January-May 2025.
For the five-month period, total merchandise trade rose to $100.98 billion, up from $88.57 billion, with imports totaling $63.11 billion and exports hitting $37.87 billion.
Electronic products remained the country’s top export in May, accounting for $4.30 billion or 54.6 percent of total outbound merchandise shipments for the month.
Machinery and transport equipment ($441.61 million, 5.6 percent) and other mineral products ($406.78 million, 5.2 percent) followed.
The United States was again the biggest buyer of Philippine-made goods, accounting for $1.35 billion or 17.2 percent of the total.
Rounding out the top five were Hong Kong ($1.20 billion 15.2 percent), Japan ($1.03 billion, 13.1 percent), China ($905.20 million, 11.5 percent) and Singapore ($442.55 million, 5.6 percent).
Electronics were also the country’s top import at $4.63 billion or 34.7 percent of all inbound shipments.
Mineral fuels, lubricants and related materials ($1.75 billion, 13.1 percent) and transport equipment ($806.83 million, 6.0 percent) rounded out the top three.
China was the country’s largest supplier, having sold $4.23 billion for a 31.7 percent share of total imports.
The rest of the top five comprised South Korea ($1.76 billion, 13.2 percent), Indonesia ($858.79 million, 6.4 percent), Malaysia ($813.09 million, 6.1 percent) and Japan ($806.32 million, 6.0 percent).
