Philippine imports jumped 25.7% year-on-year to a record high of USD 15.03 billion in September 2026, accelerating from an upwardly revised 20.9% increase in August. This was the fastest growth since May and was chiefly driven by a surge in purchases of electronic products (up 87.4%) and mineral fuels, lubricants, and related materials (up 53.3%).
Additional support came from higher imports of cereals and cereal preparations (22.8%), telecommunications equipment and electrical machinery (14.2%), and plastics in both primary and non-primary forms (13.6%). In contrast, imports declined for transport equipment (-26.2%), industrial machinery and equipment (-0.1%), and other food and live animals (-14.7%).
South Korea emerged as the Philippines’ largest source of imports in September, accounting for 26.1% of the total, with imports from that country surging 264.2%. By comparison, shipments from China—representing 22.3% of total imports—edged down 0.7%.
Over the first nine months of 2026, Philippine imports reached USD 121.11 billion in aggregate.
