PH Exports Hit Record US$9.87B

Philippine merchandise exports reached a record US$9.87 billion in September 2026, rising 35.6% from US$7.28 billion a year earlier and marking the highest monthly export value since the Philippine Statistics Authority (PSA) began tracking international trade in 1991.

Preliminary PSA data showed that September marked the 21st consecutive month of year-on-year export growth, with the latest expansion representing the strongest increase during the period.

From January to September 2026, merchandise exports reached US$73.95 billion, up 17.2% from US$63.08 billion during the same period last year. This was likewise the highest January-to-September export value recorded since the series began in 1991.

The September performance was led overwhelmingly by electronic products, which generated US$6.92 billion, accounting for 70.1% of total merchandise exports. Electronic products also posted the largest year-on-year increase among commodity groups, adding US$2.89 billion to export earnings.

Within the electronics sector, consumer electronics posted a sharp increase from a year earlier, alongside continued demand for Philippine semiconductor products and other electronic components.

Other major contributors to export growth included electronic equipment and parts, whose export earnings increased by US$64.41 million, and gold, which posted a US$59.52-million increase.

Other mineral products ranked second among the country’s major export commodity groups at US$333.93 million, or 3.4% of total exports, followed by machinery and transport equipment at US$316.54 million, or 3.2%.

Manufactured goods remained the dominant category, accounting for US$8.48 billion, or 85.9% of total exports. Mineral products contributed US$693.49 million, while agro-based products accounted for US$527.24 million.

The United States remained the Philippines’ largest export market in September, receiving US$2.63 billion worth of Philippine goods, equivalent to 26.6% of total exports. It was followed by Hong Kong with US$1.55 billion, the People’s Republic of China with US$1.12 billion, Vietnam with US$785.15 million, and Japan with US$619.17 million.

The strong export performance, however, came alongside a widening merchandise trade deficit. Imports rose 25.7% year-on-year to US$15.03 billion in September, resulting in a US$5.15-billion trade deficit, 10.3% higher than the shortfall recorded in the same month last year.

The figures underscore both the strength and the continuing structural challenges of the country’s external trade. Electronics are driving much of the export expansion, but their dominant share also highlights the Philippines’ continued dependence on a relatively concentrated export base.

The Department of Trade and Industry (DTI), meanwhile, continues to pursue market diversification and stronger linkages between Philippine enterprises and international buyers.

DTI Secretary Ma. Cristina A. Roque said the department remains committed to providing strategic and focused support to Filipino exporters, including assistance in meeting international standards and connecting enterprises with foreign buyers.

“Our exporters continue to prove that Philippine products can compete and succeed globally. This record performance reflects strong global demand, the competitiveness of our industries, and the hard work of Filipino businesses, workers, farmers, and manufacturers. More importantly, it means greater opportunities for Filipinos across the country,” Roque said.

She added that the DTI would continue helping local enterprises access international markets through tailored assistance, standards compliance and direct connections with foreign buyers.

“Trade promotion must lead to sales, repeat orders, and long-term partnerships,” Roque said.

Among the DTI’s recent export promotion initiatives was the Philippines’ first country participation in Fine Food Australia 2026, where 11 Philippine companies showcased halal-certified, healthy, natural and premium food products to potential buyers from Australia and the broader Oceania region.

The DTI also supported Philippine coconut-based enterprises participating in the China-ASEAN Expo (CAEXPO) 2026 in China under the Coconut Farmers and Industry Development Plan.

Philippine agricultural exporters likewise reached a new market milestone in September with the first shipment of Philippine fresh durian and mangosteen to Canada, expanding market opportunities for local producers.

The DTI is also set to hold the Philippine Exporters’ Trade Exposition & Forum 2026 from November 4 to 8 at the SMX Convention Center in Pasay City.

The five-day event will bring together exporters, buyers, industry leaders and trade support institutions, with more than 300 Philippine exhibitors, business-matching activities, expert forums and export support services. It will also feature dedicated Coconut Philippines and Halal Philippines showcases.

The Philippines also has an established Free Trade Agreement with the European Free Trade Association (EFTA)—comprising Iceland, Liechtenstein, Norway and Switzerland—which provides Philippine exporters with preferential access to the EFTA markets. The agreement covers trade in goods and services, investment, intellectual property, government procurement, competition and trade and sustainable development.

The broader trade relationship is also gaining momentum. In September, EFTA and ASEAN adopted a 2026–2030 Work Plan in Manila to deepen cooperation and engagement in trade-related areas, potentially creating further opportunities for Philippine businesses operating within the ASEAN market.

Roque said the Philippines’ growing network of free trade agreements provides exporters with wider access to international markets.

The recent substantial conclusion of negotiations for a Philippines-European Union Free Trade Agreement, which is now moving toward formal conclusion, could further expand market access for Philippine exporters and deepen trade and investment ties with one of the world’s largest markets.

Together with the country’s existing trade agreements and other market-opening initiatives, these developments give Philippine enterprises a wider platform to compete globally.

The opportunity now is to capitalize on this expanding market access, diversify the country’s export base, and build more globally competitive Philippine industries—turning strong export numbers into broader, more diversified and sustainable opportunities for Filipino businesses and workers.