Philippine exports grew 7.9% year-on-year to USD 7.1 billion in January 2026, the slowest pace since late August, following a 23.9% surge in December. Shipments of electronic products—the country’s leading export—rose 18.8% and accounted for 56.5% of total exports.
Exports also increased for gold (+263%) and for machinery and transport equipment (+68.4%). These gains, however, were partly offset by sharp declines in other manufactured goods (-49.8%), coconut oil (-17.5%), other mineral products (-43.2%), chemicals (-23.5%), and copper concentrates (-10.7%).
By destination, exports to the United States, the Philippines’ largest export market with a 16.4% share, rose 3.1%. Shipments also expanded to Hong Kong (+55.1%), South Korea (+49.1%), and Germany (+39.5%). In contrast, exports to China (-7.1%), Japan (-7.9%), and Thailand (-1.8%) declined.
