The contrasting trade positions came as the country’s overall merchandise trade expanded 16.3 percent year-on-year to $22.27 billion, although the trade deficit widened 34.9 percent to $5.97 billion.
Imports grew faster than exports, rising 19.8 percent to $14.12 billion, while exports increased 10.8 percent to $8.15 billion.
South Korea, Japan and Indonesia followed China as major import sources, with shipments valued at $1.80 billion, $1.11 billion and $807.75 million, respectively. The US ranked fifth among import suppliers at $766.61 million.
On the export side, Hong Kong ranked second behind the US with $1.29 billion, followed by China at $919.82 million, Japan at $856.60 million and Singapore at $401.17 million.
Electronic products remained central to Philippine trade, making up 58.8 percent of exports at $4.79 billion and 32.6 percent of imports at $4.60 billion.
The strong trade activity also pushed January-to-July imports to a record $92.26 billion, up 18.9 percent from the same period last year. Exports during the period reached a record $54.92 billion, 12.9 percent higher year-on-year.
The figures highlight the Philippines’ deepening trade links with both major economies, while also underscoring the country’s persistent dependence on imported goods and components.