China and the United States continued to occupy opposite sides of the Philippines’ trade flows in July, with China emerging as the country’s biggest source of imports while the US remained its top export market.

Philippine imports from China reached $4.17 billion in July, accounting for 29.5 percent of total imports, according to the Philippine Statistics Authority. The US, meanwhile, bought $1.68 billion worth of Philippine goods, or 20.7 percent of total exports.

Contrasting trade positions

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.