Philippines - Imports of Goods and Services

Philippines: Imports of Goods and Services

Mnemonic IM.IPHL
Unit Mil. PHP, NSA
Adjustments Not Seasonally Adjusted
Quarterly 7.19 %
Data 2019 Q4 1,876,352
2019 Q3 2,021,780

Series Information

Source Philippine Statistics Authority
Release National accounts
Frequency Quarterly
Start Date 3/31/1981
End Date 12/31/2019

Philippines: Trade

Reference Last Previous Units Frequency
Balance of Goods Dec 2022 -5,556 -4,679 Mil. USD, NSA Monthly
Current Account Balance Dec 2022 -60.37 -3.38 Mil. USD, NSA Monthly
Exports of Goods Dec 2022 4,044 5,300 Mil. USD, NSA Monthly
Imports of Goods Dec 2022 9,600 9,980 Mil. USD, NSA Monthly
Real Exports of Goods and Services 2022 Q4 1,433,335 1,528,226 Mil. 2018 PHP, NSA Quarterly
Real Imports of Goods and Services 2022 Q4 1,920,922 2,040,132 Mil. 2018 PHP, NSA Quarterly
Exports of Goods and Services 2019 Q4 1,363,027 1,448,216 Mil. PHP, NSA Quarterly
Imports of Goods and Services 2019 Q4 1,876,352 2,021,780 Mil. PHP, NSA Quarterly
Net Exports 2019 Q4 -513,324 -573,563 Mil. PHP, NSA Quarterly
Real Net Exports 2019 Q4 -276,710 -185,663 Mil. 2000 PHP, NSA Quarterly

Release Information

For the Philippines, the expenditure and output approaches to GDP. Includes gross value added by industry, in current- and constant-price terms. Quarterly from 1981.


  • Framework: PSNA (Philippines System of National Accounts), which generally follows UN SNA 2008
  • Classification: Not indicated, but matches PSIC 2009. The 2009 PSIC was patterned after the UN-ISIC Rev 4, but with some modifications to reflect national situation and requirements. The new configuration now presents eighty (80) sub-industries grouped into sixteen (16) major industries as compared to the old configuration of seventy-two (72) sub-industries which is grouped into twelve (12) major industries.
  • Measurements:
    • Millions of Philippine pesos at constant year-2018 prices (Mil. 2018 PHP)
    • At current prices (Mil. PHP)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Quarterly
  • Start date: 2000Q1


  • 2000 prices - 1981 to 2019
  • 1985 prices - 1994 to 2010

The source writes (stale):

Gross domestic product refers to the value of all goods and services produced domestically; the sum of gross value added of all resident institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the values of their outputs).

Basic concepts

  • The current PSNA basically follows the 1968 UN System National Account (SNA) but to a limited scale incorporates the recommendations of the 1993 SNA.
  • Transactors are economic units called institutional units.The institutional sectors in the present PSNA are:
    • Private Corporations
    • Government Corporations
    • General Government; and
    • Households, including non-profit institutions serving households and unincorporated enterprises.
  • Economic Territory does not coincide exactly with geographic territory.
  • Total economy consists of all institutional units that are residents of the country.
  • An institutional unit is said to be resident of a country when it has a center of economic interest in the economic territory of country - that is when it engages for an extended period (one year or more being taken as a practical guide) in economic activities of this territory. 

Current PSNA / 1993 PSNA

Salient features of 1993 SNA

  • With more articulations introduced in the classifications and institutional sectoring, compilers and users have more flexibility in prioritizing various parts of the accounts, depending on the analysis required and data availability.
  • Harmonized with other international statistical systems such as the Balance of Payment (BOP), International Labour Organization (ILO), Government Finance Statistics (GFS), and Money and Banking Statistics (MBS).
  • More articulated accounts to address concerns such as the revaluation account that record changes in prices or inflation.
  • Introduce the concept of Gross Domestic Income and the concept of Gross National Income (GNI) to replace Gross National Product (GNP). GNI (at constant prices) is equal to GDP (at constant prices) plus Trading Gains/Loss from changes in the terms of trade plus NFIA (at constant prices).
  • Introduce the concepts of mixed income and primary income.
  • Delineation of output into market output, output for own final use and non-market output.
  • Provision of guidelines for the compilation of satellite accounts such as environmental, tourism, education and transportation accounts.

Measurement of gross domestic product

Production approach

   Gross Output
    Intermediate Inputs
    Gross Value Added (GVA)

Expenditure approach

    Personal Consumption Expenditure
    Government Consumption Expenditure
    Gross Domestic Capital Formation
    Expenditure on Gross Domestic Product

Income approach

   Compensation of Employees
   Indirect Taxes - Subsidies
   Net Operating Surplus
     Gross Domestic Product

Appropriate deflators

PCE - a true commodity flow approach is not feasible due to data limitations.

PCE = P + M - DS - FCF - GGCE - X - II


  • PCE - Pesonal Consumption Expenditure
  • P - Production
  • M - Imports
  • DS - Change in Stock
  • FCF - Fixed Capital Formation
  • GGCE - General Government Consumption Expenditure
  • X - Exports
  • II - Intermediate Inputs

Moody's Analytics supplements

We produce sasonally adjusted counterparts to the reported series.

The updating of the Quarterly Accounts for each quarterly estimation round is limited to the immediately preceding quarter, and for the rest of the past quarters to be done only during the May round of estimates.


The above passages are quoted or paraphrased from the NSCB (National Statistical Coordination Board), a predecessor to the Philippines Statistics Authority. The PSA is the merger of four prior agencies.

Further reading

At the source: