5 Markets Lead PH Exports to 35-Year High

By THEPHILBIZNEWS STAFF

The United States, Hong Kong, China, Japan and Singapore remained the Philippines’ leading export markets in July, accounting for nearly two-thirds of the country’s $8.15-billion merchandise exports as overall shipments continued to grow, albeit at a slower pace.

According to the Philippine Statistics Authority (PSA), total export sales rose 10.8% year-on-year in July 2026 to $8.15 billion, from $7.36 billion a year earlier. The July growth, however, marked a sharp moderation from the 25.0% expansion recorded in June.

The five leading export markets were the United States with $1.68 billion, or 20.7% of total exports; Hong Kong with $1.29 billion (15.9%); China with $919.82 million (11.3%); Japan with $856.60 million (10.5%); and Singapore with $401.17 million (4.9%). Together, they accounted for about 63% of total Philippine exports in July.

Despite the slower monthly growth, the country’s export performance remained on an upward trajectory during the first seven months of the year.

From January to July, Philippine merchandise exports reached $54.92 billion, up 12.9% from $48.67 billion in the same period last year. PSA said this was the highest January-to-July export value recorded since the series began in 1991.

Electronic products continued to dominate the country’s export basket in July, generating $4.79 billion or 58.8% of total export sales.

Other manufactured goods followed with $371.46 million, or 4.6%, while other mineral products accounted for $366.26 million, or 4.5%.

Electronic products also posted the largest annual increase in export value during the month, rising by $869.72 million. Gold followed with an increase of $79.34 million, while electronic equipment and parts rose by $71.81 million. ([Google][1])

By major type of goods, manufactured products remained the dominant export category, accounting for $6.61 billion or 81.1% of total exports. Mineral products contributed $776.61 million (9.5%), while agro-based products accounted for $548.95 million (6.7%).

The latest export figures come as the Department of Trade and Industry (DTI) continues to expand market access and provide support to Philippine exporters through trade missions, business matching activities and international trade exhibitions.

In the first half of 2026, the DTI Export Marketing Bureau assisted more than 3,200 exporters in accessing over 20 international markets, while Philippine companies participated in trade promotion activities covering Australia, China, Japan, Morocco, New Zealand, Spain and Thailand.

Philippine exporters also joined international trade events, including Mega Show and Cosmoprof Asia in Hong Kong, Gamescom Asia in Thailand, the Malaysia International Halal Showcase, Fine Food Australia, the UK Microelectronics event and Beautyworld Dubai.

The Philippines currently has 23 free trade agreements, while negotiations for additional agreements with the European Union and Canada are ongoing. The review of the Japan-Philippines Economic Partnership Agreement is also expected to conclude this year, while the Philippines-Chile Free Trade Agreement was recently signed.

Trade Secretary Cristina A. Roque said the country needs to move beyond exporting raw materials and further develop higher-value products from Philippine resources.

“The true value of our resource is not only what we harvest, but in what we create from all the products that we have here in the country. But we must continue to make sure that we exhaust the full and maximum potential of all of these products,” Roque said.

“Our exporters continue to demonstrate that Philippine products and services can compete globally. The DTI will get Filipino products abroad—we will not let up until every capable business finds its place in the global market,” she added.

The PSA also reported that imports rose faster than exports in July, increasing 19.8% year-on-year to $14.12 billion. This resulted in a merchandise trade deficit of $5.97 billion, 34.9% higher than the deficit recorded a year earlier.