The Philippines’ trade deficit widened to $5.2 billion in September 2026 from $4.7 billion a year earlier as imports climbed 25.7% to a record $15.0 billion. Electronic product imports surged 87.4%, led by a 144% increase in semiconductors, while purchases of mineral fuels and lubricants, cereals and cereal preparations, and telecommunications equipment also increased. South Korea supplied 26.1% of imports, followed by China, Indonesia and Japan. Exports rose 35.6% to a record $9.87 billion, or about 36% from a year earlier, supported by global electronics demand and a weak peso. The increase was the fastest in five years and, according to Bloomberg-compiled data, the quickest since April 2021. Electronic products accounted for 70.1% of shipments and grew 71.9%, driven by semiconductors and office equipment. The US was the leading export market, while the January-September trade gap widened to $47.2 billion from $37.6 billion a year earlier. An earlier account described the September export increase as the strongest since September 2010, creating a historical comparison that differs from the latest April 2021 benchmark.