Philippine merchandise exports rose 13 percent to a record high of over $46 billion in the first half of the year due to strong demand for key products and expanded market access.

Latest data from the Philippine Statistics Authority (PSA) showed that goods exports reached $46.72 billion from January to June, up from $41.31 billion in the same period last year.

The PSA noted this is the highest first-half export value recorded since data tracking began in 1991.

Growth was largely driven by sustained demand for electronic products, which increased by nearly 21 percent to $26.10 billion—accounting for 56 percent of total exports.

Semiconductor components and devices, which support artificial intelligence (AI) and expanding data centers, led the electronics category with $19.5 billion in value during the first six months.

The United States maintained its position as the top destination for Philippine exports, accounting for $8.44 billion, or 18 percent of the total in the first half.

In June alone, merchandise exports grew by nearly a quarter to $8.77 billion from $7.07 billion in the same month last year. This is the highest monthly export value recorded by the PSA.

Electronic products remained the primary driver for the month, generating $5.25 billion, or 60 percent of June's total. The US was the top market for the month as well, taking in 20 percent of total exports at $1.76 billion.

Department of Trade and Industry (DTI) Secretary Cristina Roque said in a statement that the record performance reflects exporters' continued commitment to bringing local products to the global stage.

“Despite uncertainties in global trade, they continue to invest in their businesses, create opportunities for our people, and proudly carry the Philippine brand into markets around the world,” Roque said.

To sustain this momentum, Roque said the government intends to strengthen exporters' foreign market presence by pursuing free trade agreements (FTAs).

Through FTAs, the DTI aims to open more opportunities for exporters by facilitating greater access via preferential tariff rates and other benefits. For instance, she noted that upcoming negotiations with Japan to amend the Philippines-Japan Economic Partnership Agreement (PJEPA) will be critical to boosting banana exports.

Roque added that the DTI will further support exporters by connecting them to investors and buyers through trade promotion, market development, and strategic partnerships.

“When the government, industry, and exporters work together, we can push our exporters to grow beyond borders and create more opportunities for Filipino businesses to thrive,” she said.

Meanwhile, PSA data showed that imports of goods jumped by nearly 18 percent to $77.53 billion in the first half, up from $65.79 billion a year ago.

As a result, the trade deficit in goods widened by 26 percent to $30.81 billion by the end of June from $24.48 billion in the same period last year.