Philippines Imports Rise 5.05% in May 2025, Driven by Strong Automotive and Electronics Demand

Publishing Date：2025-07-15 16:56:18 Source: NBD Data(en.nbd.ltd)

In May 2025, the Philippines recorded a total import value of $12.16 billion, marking a 5.05% increase compared to $11.57 billion in April. This growth was supported by 730,133 trade records, underscoring sustained trade activity. The uptick was largely fueled by surging demand in automotive and electronics sectors, aligning with broader regional supply chain dynamics.

Over the past six months, Philippine import values have shown notable fluctuations. December 2024 posted $10.78 billion, climbing sharply to $12.48 billion in January 2025. February saw a correction to $10.48 billion, followed by a rebound to $11.88 billion in March. April posted $11.57 billion before May’s acceleration to $12.16 billion. Despite the rebound, the number of active domestic importers dropped sharply to 10,729 in May, from over 21,000 in April, suggesting increasing consolidation or seasonality. Record volumes remained stable, pointing to consistent transactional intensity.

Among the Philippines' top trading partners in May, China continued to dominate with $3.4 billion in imports. It engaged with 6,889 local buyers and 22,857 Chinese suppliers, spanning 3,257 product categories—a testament to the entrenched trade relationship and China’s diversified export portfolio.

Indonesia ranked second with $1.03 billion, supported by 1,043 Filipino buyers and 1,178 Indonesian exporters across 928 categories. The volume highlights the importance of Indonesian raw materials and intermediate goods to Philippine industries.

Japan followed closely at $942 million, with 1,965 local importers sourcing from 3,842 Japanese suppliers. Covering 2,403 product lines, the bilateral trade continues to be bolstered by automotive and high-tech equipment imports.

South Korea contributed $748 million, connecting with 1,335 Philippine buyers and 2,294 Korean suppliers in 1,645 categories. This reflects Korea’s competitiveness in electronics, machinery, and chemical inputs.

Other significant partners included the United States ($729 million), Thailand ($666 million), Vietnam ($555 million), Singapore ($509 million), Malaysia ($477 million), and Taiwan (China) ($395 million). These six collectively represent a broad spectrum of regional and trans-Pacific trade links, highlighting the Philippines’ diversified sourcing strategy and interdependence in electronics, energy, and food sectors.

Several emerging markets exhibited explosive growth in Philippine imports. Kazakhstan surged to $22.49 million, up from just $758 in April—a staggering 2.97 million percent growth, likely linked to specialized commodities or one-time industrial shipments.

Cuba saw a 305,909% increase, reaching $176,000, suggesting newly opened trade channels. Similarly, Cook Islands and Lebanon recorded jumps of 81,161% and 32,114% respectively, albeit from low bases. Vanuatu rose 21,288% to $3.35 million, driven potentially by niche agricultural or timber products.

In terms of goods categories, electric vehicles (HS 870380) topped the list with $80.99 million, growing 73.44% month-over-month. Key buyers included VINFAST AUTO PHILIPPINES CORP., BYD PHILIPPINES CORP., and TESLA MOTORS PHILIPPINES INC., underscoring rising EV adoption.

Imports of electronic circuit parts (HS 854290) surged 71.47% to $134.17 million, with SFA SEMICON PHILIPPINES CORPORATION., ALLEGRO MICROSYSTEMS PHILIPPINES, and TI (PHILIPPINES) INC. as major importers.

Small passenger vehicles (HS 870322) posted $189.10 million (+59.16%), with leading buyers including TOYOTA MOTOR PHILIPPINES CORP., MITSUBISHI MOTORS PHILIPPINES, and HONDA CARS PHILIPPINES INC..

Motorcycles (HS 871120) rose 58.36% to $99.76 million, driven by HONDA PHILIPPINES INC., YAMAHA MOTOR PHILIPPINES INC., and SUZUKI PHILIPPINES INCORPORATED.

Hybrid vehicles (HS 870340) grew 56.26%, led by BYD PHILIPPINES CORP., TOYOTA MOTOR PHILIPPINES CORP., and KP MOTORS CORPORATION.

The Philippines’ import profile in May 2025 illustrates both structural demand and dynamic sourcing shifts. The rise in automotive and semiconductor imports reflects industrial modernization, while the emergence of new partners signals evolving global supply diversification. Moving forward, close monitoring of trade consolidation and technology-driven imports will be key to understanding the country’s trade resilience and transformation.

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