THE growth of the country’s export earnings continued to slow in August 2025, according to the latest data released by the Philippine Statistics Authority (PSA).
Based on the International Merchandise Trade Statistics of the Philippines, the country’s exports grew 4.6 percent to $7.06 billion in August 2025 from the $6.75 billion posted in the same period last year.
It can be noted that after peaking at 26.9 percent in June 2025, export earnings slowed to 17.6 percent in July and posted single-digit growth in August.
‘The year-to-date total value of exports, that is from January to August 2025, amounted to $55.7 billion. This represents an annual increase of 12.6 percent from the year-to-date total export value of $49.45 billion in January to August 2024,’ the PSA said.
The commodities that posted contractions in August were copra oil cake or meal which contracted 71.9 percent in August, followed by unmanufactured tobacco at 67.8 percent; other products manufactured from materials imported on consignment basis, 63.4 percent; copper concentrates, 62.5 percent; and other fruits and vegetables, 62.4 percent.
Commodities that posted the fastest growth in August were led by other forest products which surged 200.3 percent; gold, 153.4 percent; footwear, 127.2 percent; iron and steel, 91.2 percent; and desiccated coconut, 89.9 percent.
‘The commodity group with the highest annual increment in the value of exports in August 2025 was electronic products with $303.79 million. This was followed by gold with an annual increase of $160.37 million, and other mineral products with an annual increment of $112.09 million,’ the PSA stated.
Further, PSA said electronic products remained the country’s top exports in August 2025 with total earnings of $3.87 billion or 54.8 percent of the country’s total exports during the period.
The data showed this was followed by other mineral products with an export value of $384.26 million, accounting for 5.4 percent of the total; and machinery and transport equipment with $363.65 million, or 5.1 percent of total export earnings.
Import receipts
Meanwhile, the country’s import receipts amounted to $10.6 billion, indicating an annual decrement of 4.9 percent from the $11.15 billion import value in the same month of the previous year.
In July 2025 and August 2024, the PSA said that the country’s import value recorded annual increases of 5.8 percent and 2.9 percent, respectively.
In August 2025, the PSA said the commodity group with the highest annual decrement in the value of imported goods was mineral fuels, lubricants and related materials with $611.83 million.
This was followed by metalliferous ores and metal scrap, which decreased by $168.7 million, and cereals and cereal preparations with an annual decline of $86.15 million.
‘The year-to-date total import value from January to August 2025 amounted to $88.08 billion. This represents an annual increment of 5.1 percent from the year-to-date total import value of $83.78 billion in January to August 2024,’ the PSA said.
China top export market, import source
Meanwhile, the PSA said the country’s top export market and import source for August 2025 was China.
In terms of exports, Hong Kong, China was the country’s top export destination with an export value amounting to $1.19 billion or a share of 16.9 percent to the country’s total exports in August 2025.
Other top export partners for the month were the United States of America (USA), $1.09 billion or 15.4 percent of the total; Japan, $979.00 million, 13.9 percent; People’s Republic of China, $849.32 million, 12 percent; and Republic of China (Taiwan), $292.18 million or 4.1 percent of total exports.
In terms of import source, the People’s Republic of China was the country’s largest supplier of imported goods valued at $3.19 billion or 30.1 percent of the country’s total imports in August 2025.
Other import sources included Republic of Korea with an import value worth $848.93 million or 8 percent of total imports; Indonesia, $838.78 million or 7.9 percent of total; Japan, $731.06 million or 6.9 percent of total; and USA, $698.41 million or 6.6 percent of the total.