27.02.202601:00:00UTC+00Philippines’ Export Growth Cools Sharply to 7.9% YoY in January 2026

The Philippines’ export sector lost momentum at the start of 2026, with year-on-year growth slowing to 7.9% in January, down from a robust 23.3% in December 2025. The data, updated on 27 February 2026, reflect a marked deceleration in external trade expansion after a strong year-end performance.

Both figures are measured on a year-over-year basis, comparing each month’s exports to the same month a year earlier. While exports continued to grow in January 2026, the weaker pace suggests that the strong gains seen in December were not sustained into the new year, potentially signaling a normalization after earlier surges in demand or base effects.

The shift from double-digit to single-digit annual growth will likely draw attention from policymakers and market participants tracking the resilience of the Philippines’ external sector amid changing global trade conditions. However, the continued positive growth rate still points to an export sector that is expanding, albeit at a slower clip than in late 2025.