The country's trade deficit narrowed in July this year on the back of the double-digit growth in exports, data from the Philippine Statistics Authority (PSA) showed.

Data released on Friday showed that the balance of trade of goods, or the difference between the value of exports and imports, decreased by 17 percent to $4.05 billion in July this year, compared to $4.8 billion in the same month last year.

Total export sales increased by 17.3 percent to $7.3 billion from last year's $6.2 billion, mainly driven by higher exports of electronic products, other mineral products, and gold.

The PSA said electronic products continued to be the country’s top exports in July 2025 with total earnings of $3.92 billion or 53.5 percent of the country’s total exports during the month.

By major trading partner, exports to the United States of America comprised the highest export value amounting to $1.16 billion.

The PSA said other major trading partners include Hong Kong, Japan, the People's Republic of China, and the Netherlands.

The value of imported goods, meanwhile, went up by 2.3 percent to $11.4 billion from $11.1 billion in July last year.

The commodity group with the highest import value in July 2025 was electronic products, which amounted to $2.80 billion or a share of 24.6 percent of the country’s total imports.

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

China was the country's largest supplier of imported goods, followed by Korea, Indonesia, Japan, and the United States.

PPA PHOTO