FX.co ★ Philippine Imports Fall in August

In August 2025, the Philippines experienced a 4.9% year-on-year decline in imports, bringing the total to USD 10.6 billion. This represents a shift from the previously recorded upwardly revised growth of 5.8% the month before. This decrease in imports is the first since May, primarily driven by reduced purchases of mineral fuels, lubricants, and related materials, which dropped by 34.2%. Additionally, imports of cereals and cereal preparations fell by 19.4%, transport equipment decreased by 6.2%, and miscellaneous manufactured articles saw a slight decline of 0.7%. On the other hand, the Philippines witnessed an increase in imports of telecommunications equipment and electrical machinery by 25.6%, metal products by 21.9%, and electronic products by 11.7%. Among the country’s major trading partners, import declines were noted from Malaysia (down 19.4%), Indonesia (down 13.8%), Japan (down 12.2%), Korea (down 8.3%), and Vietnam (down 3.3%). Conversely, imports from Taiwan and China rose significantly, increasing by 33.8% and 14.1%, respectively. Over the span from January to August, the total imports were 5.1% higher than in the same period the previous year.