Philippine imports rose 19.8% year-on-year to USD 14.1 billion in July 2026, easing from an upwardly revised 25% in the previous month. It marked the slowest growth since March, as declines in shipments of transport equipment (-3.8%), industrial machinery and equipment (-3.7%), iron and steel (-8.3%), and other food and live animals (-9.6%) weighed on overall import growth. Meanwhile, imports of electronic products surged 61.3%, led by components and devices (79%) and electronic data processing equipment (32.8%). Import growth was also supported by strong gains in mineral fuels, lubricants, and related materials (34.8%) and cereals and cereal preparations (50.1%). China remained the Philippines’ largest source of imports, accounting for 29.5% of the total, with purchases rising 20.2% from a year earlier. Imports also increased from South Korea (75.7%), Japan (23.1%) and the US (4.2%). In the first seven months of 2026, the country’s imports reached USD 92.3 billion.