FX.co ★ Philippines Exports Growth Slows to 8-Month Low

In August 2025, Philippine exports experienced a year-on-year increase of 4.6% to reach USD 7.1 billion, a deceleration from the revised 17.6% growth observed in the previous month. This represents the most modest growth in outbound shipments since December 2024, primarily due to a downturn in sales of electronic equipment and parts (-18.5%), chemicals (-18.1%), and other manufactured goods (-37.6%). Conversely, there were notable increases in sales of gold (153.4%), fresh bananas (59.9%), coconut oil (41.5%), machinery and transport equipment (40.5%), as well as other mineral products (41.2%). In terms of destinations, Hong Kong continued to be the leading market, comprising a 16.9% share and experiencing a substantial increase of 26.4% in shipments. Exports also saw rises in markets such as Germany (17.9%), Taiwan (16.9%), Malaysia (10.3%), Japan (4.7%), and Singapore (4.6%). Over the January to August period, total exports grew by 12.6%, amounting to USD 55.70 billion compared to the same timeframe in the prior year.