FX.co ★ Philippine Import Growth Slows in July

In July 2025, the Philippines experienced a 2.3% year-on-year increase in imports, reaching a total of USD 11.3 billion. This marked a significant decrease from the sharply revised 15.7% growth observed in the prior month. The deceleration was primarily attributed to reduced incoming shipments of mineral fuels, lubricants, and related materials, which fell by 7.8%, along with industrial machinery and equipment at a 6.1% decline, iron and steel decreasing by 5.1%, and transport equipment down by 2.8%. Conversely, there was a notable rise in imports for telecommunications equipment and electrical machinery, which surged by 24.1%, metal products that increased by 23.2%, and miscellaneous manufactured articles, climbing 19.3%. Among major trading partners, imports saw a decrease from Thailand, down by 13.6%, Japan, which declined by 6%, and Indonesia, falling by 5.2%. For the period from January to July, imports showed a 6.1% increase compared to the same period last year.