FX.co ★ Philippine Export Growth at 5-Month High

In November 2025, Philippine exports experienced a significant year-on-year increase of 21.3%, reaching USD 6.9 billion. This comes as an acceleration from a revised 20.3% growth observed in the previous month, marking the most robust annual expansion since June. The surge was primarily fueled by a remarkable rise in the sale of electronic products, including semiconductors, which jumped by 69.3%, electronic data processing equipment, up by 24.3%, and telecommunications equipment, which increased by 2.5%. Additionally, there were considerable increases in the export of gold, which climbed by 50.7%, and bananas, which rose by 38.8%. However, declines were noted in the export of other manufactured goods, falling by 16.9%, other mineral products, dropping by 41%, and chemicals, decreasing by 24.3%. Hong Kong emerged as the largest export destination, accounting for 16.9% of the total, marginally ahead of the US at 16.8%, despite a 19% tariff on Philippine goods that was enacted in late August. Exports also grew to markets such as Japan, which saw a 12.6% increase, China at 10.1%, and the Netherlands at 4.9%. Over the January to November period, the Philippines saw its total exports rise from USD 67.6 billion to USD 77.4 billion compared to the same timeframe in the previous year.