Philippines' trade gap with China swells to $29.13 billion in 2025
In 2025 the Philippines ran a $29.13 billion trade deficit with China, far exceeding the combined deficits with its next four biggest deficit partners.
According to Philippine Statistics Authority figures cited by analyst Dr. Alicor Panao, the Philippines' trade deficit with China reached $29.13 billion in 2025, driven by $38.44 billion in imports versus $9.31 billion in exports. The combined deficits with Indonesia, South Korea, Thailand and Vietnam amounted to $25.29 billion, still less than the shortfall with China alone. While the Philippines enjoyed a $5.31 billion surplus with the United States and surpluses totaling roughly $15.65 billion with Hong Kong, the Netherlands, Germany and Japan, these gains were insufficient to balance the Chinese gap.
Panao noted that the deficit reflects heavy dependence on Chinese industrial goods, electronic components and consumer products, a consequence of limited local manufacturing. He suggested that strengthening domestic production and diversifying supply chains could enhance economic resilience amid ongoing West Philippine Sea tensions.
Why it matters
The huge deficit highlights the Philippines' reliance on Chinese imports and underscores the need for stronger local industry.
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