Total external trade in goods for January to August 2011 reached $73.735 billion, representing a 7.6 percent increment from $68.547 billion registered during the same period a year earlier. Similarly, total imports grew by 13.8 percent to $40.426 billion from $35.526 billion. On the other hand, aggregate exports slightly inched up by 0.9 percent to $33.308 billion in January to August of 2011 from $33.021 billion of the previous year. Thus, the balance of trade in goods (BOT-G) for the Philippines posted deficit at $7.118 billion for the first eight-month period of 2011, a value higher than the $2.505 billion deficit recorded during the same period in 2010.

Total external trade in goods for January to September 2011 reached $82.765 billion, representing a 5.5 percent increment from $78.485 billion registered during the same period a year earlier. Similarly, total imports grew by 13.5 percent to $45.560 billion from $40.124 billion. On the other hand, aggregate exports fell by 3.0 percent from $38.362 billion in January to September of previous year to $37.205 billion. Thus, the balance of trade in goods (BOT-G) for the Philippines posted a deficit at $8.355 billion for the three quarters of 2011, a value higher than the $1.762 billion deficit recorded during the same period in 2010.

Export earnings in February 2011 amounted to $3.864 billion, an 8.2 percent increment from $3.570 billion recorded in February of 2010. However, on a monthly basis, it declined by 3.4 percent from $4.000 billion posted in January 2011. Aggregate merchandise exports for the first two months of 2011, on the other hand, showed an increase of 10.0 percent to $7.865 billion from $7.150 billion posted during the same two-month period in 2010.