The country's total external trade in goods went up by 9.1 percent to $17.82 billion in January this year from $16.32 billion last year, the Philippine Statistics Authority (PSA) said.

Data released on Friday showed that of the total amount, 64.3 percent were imported goods while 35.7 percent were exported goods.

Total export sales increased by 6.3 percent to $6.36 billion from $5.98 billion in January 2023.

The PSA said electronics remained the country's top exports with total earnings of $3.37 million.

This was followed by other manufactured goods ($471.07 million) and coconut oil ($249.05 million).

The United States continued to be the country's biggest export market followed by Japan, Hong Kong, China, and Singapore.

The total value of imports meanwhile amounted to $11.45 billion, up by 10.8 percent from the $10.34 billion in January last year.

"The commodity group with the highest import value in January 2025 was electronic products, which amounted to $2.51 billion or a share of 21.9 percent to the country’s total imports," said the PSA.

This was followed by mineral fuels, lubricants and related materials, and transport equipment.

The PSA said China was the largest source of imports amounting to $3.31 billion or 28.9 percent of the country's total imports.

Other top sources of imports were Japan, Indonesia, South Korea, and the United States.

The PSA meanwhile, said the balance of trade in goods or the difference between the value of exports and imports amounted to $5.09 billion, up by 16.9 percent year-on-year. 

ICTSI PHOTO