FX.co ★ Philippine Imports Swing to 3.1% Decline in January, Reversing December Growth

Philippine imports fell 3.1% year-over-year in January 2026, a sharp turnaround from the 7.1% annual growth recorded in December 2025, according to data updated on 27 February 2026. The figures compare each month with the same period a year earlier.

The latest reading signals a notable cooling in external demand or domestic spending on imported goods at the start of 2026, after a solid expansion at the end of last year. While December’s performance pointed to robust import activity, January’s contraction highlights a more cautious trade environment entering the new year.