29.08.202501:00:00UTC+00Philippines' Import Growth Slows Sharply in July: A Dramatic Drop to 2.3% Year-Over-Year

In a significant shift in the economic landscape, the Philippines reported a substantial deceleration in its import growth for July 2025. According to updated data released on August 29, 2025, the rate at which imports have increased year-over-year reached a meager 2.3%, compared to a robust 10.8% recorded in June. This drastic drop highlights a notable change in the country's import dynamics over the course of just one month.

The latest figures represent a pronounced slowdown in the growth rate, contrasting sharply with the preceding months' trends. In June 2025, imports surged at a rate of 10.8% when compared to June 2024 — a period that marked strong demand and consumption patterns from overseas goods. However, just a month later, the rate plummeted to 2.3% in July 2025 compared to July 2024, signalling a potential shift in economic activities and consumer behavior within the nation.

This significant decrease could have profound implications, not only for domestic economic policies but also for international trade relations. As the Philippines grapples with this sudden drop in import growth, stakeholders will be watching closely to determine the underlying causes and potential responses needed to navigate this new economic course.