FX.co ★ Philippine Exports Hit All-Time High

Philippine exports surged 20.4% year-on-year to a record high of USD 8.2 billion in March 2026, quickening from an upwardly revised 8.9% increase in February. Electronic products remained the country’s leading export, jumping 33% and accounting for 59% of total shipments. Within this category, exports of semiconductor components rose 38.2%, consumer electronics 73.5%, and telecommunications products 80.4%.

Strong gains were also recorded in machinery and transport equipment (+70.6%), other mineral products (+55.7%), and gold (+84%). These increases were partly offset by sharp declines in other manufactured goods (-29.6%) and coconut oil (-30.4%).

By destination, exports to the United States—the Philippines’ largest market with a 17.7% share of total shipments—grew 17.7%. Shipments also expanded to Hong Kong (+28.7%), China (+23.5%), Taiwan (+52%), and Singapore (+34.1%), while Japan (-0.6%) was the only major trading partner to register a contraction.

For the first quarter of 2026 (January–March), total exports rose 12.7% to USD 22.7 billion.