FX.co ★ Philippine Exports Growth Hits Over 2-Year High

Philippine exports rose by 27.8% year-on-year to USD 9.1 billion in August 2026, the fastest pace since April 2024 and a sharp acceleration from the slightly upwardly revised 10.9% growth registered in July. Electronic products remained the country’s leading export, accounting for 68.1% of total shipments and expanding by 59.9%. This performance was driven mainly by semiconductor components (+73.5%), office equipment (+73.3%), and consumer electronics (+111.4%).

Exports of gold (+15%) and bananas (+7%) also posted gains. By contrast, shipments of other manufactured goods (-14.4%) and machinery and transport equipment (-26%) declined.

Among key trading partners, exports to the United States—the Philippines’ largest market, with a 23.8% share of total shipments—soared by 94.6%. Outbound shipments also increased to Hong Kong (+30.5%), China (+22.9%), Taiwan (+76.5%), and Singapore (+69.2%).

Over the first eight months of the year, total exports grew by 14.8%, reaching USD 64 billion.