Philippine imports increased by 16.6% year-on-year to USD 13 billion in August 2026, the lowest level in six months and a slowdown from the upwardly revised 23% growth recorded in July. This was the weakest annual expansion since February, as purchases fell in several key categories, including industrial and machinery equipment (-7.1%), other food and live animals (-24.2%), miscellaneous manufactured articles (-8.4%), and iron and steel (-27.1%).
By contrast, imports of electronic products jumped 61.4%, supported primarily by strong gains in components and devices (82.4%) and electronic data processing equipment (13.7%). Additional growth came from higher imports of mineral fuels, lubricants and related materials (38.6%), as well as transport equipment (0.6%).
China remained the Philippines’ largest import source, accounting for 22.7% of the total, even though shipments from China declined by 11.1%. Imports from South Korea (212.6%), Japan (21.2%), and Indonesia (4.3%) all registered increases. Over the first eight months of the year, the country’s total imports reached USD 105.6 billion.
