THE country posted a $5.15-billion trade deficit in September, the widest since July, as imports continued to grow faster than exports despite record-high sales in both directions, according to the Philippine Statistics Authority (PSA) on Friday.
The PSA’s International Merchandise Trade Statistics (IMTS) showed the deficit-representing the difference between the value of goods exported and imported-increased by 10.3 percent from the same month last year.
Total imports reached $15.03 billion, up 25.7 percent from $11.95 billion in September 2025. Exports, meanwhile, grew by 35.6 percent to $9.87 billion from $7.28 billion a year earlier.
Despite the faster annual growth in exports, the value of imported goods remained substantially higher.
Both export and import values reached their highest levels since the PSA began its series in 1991.
The increase in exports was led by electronic products, which posted the largest annual gain among commodity groups at $2.89 billion. Electronic equipment and parts followed with an increase of $64.41 million, while gold rose by $59.52 million.
On the import side, electronic products likewise recorded the largest annual increase, rising by $2.7 billion. Mineral fuels, lubricants and related materials followed with a $687.02-million increase, while imports of cereals and cereal preparations grew by $98.36 million.
The combined value of the country’s exports and imports reached $24.9 billion in September, 29.5 percent higher than the $19.24 billion recorded a year earlier. This was also the highest total external trade value in the PSA’s series.
The United States remained the Philippines’s largest export market, accounting for $2.63 billion, or 26.6 percent of total export sales.
Hong Kong was the second-largest destination with $1.55 billion, followed by China with $1.12 billion, Vietnam with $785.15 million and Japan with $619.17 million.
South Korea, meanwhile, was the country’s biggest source of imports, supplying $3.92 billion worth of goods, equivalent to 26.1 percent of total imports.
China ranked second with $3.36 billion, followed by Indonesia with $994.43 million, Japan with $952.13 million and the United States with $744.66 million.
The IMTS serves as a key input in compiling the country’s balance of payments, formulating economic policies, and supporting research and investment analysis, according to the statistics agency.