The concept of trading follows the give and take process since each country has its own unique products which are more abundant than others. In this way, it helps each country’s economy to grow and expand globally.
If you are interested in trading your goods in the Philippines, this blog will guide you in processing an AEPR, and in exploring the country’s total external trade and balance of trade, the export and import value of community groups, and the major type of goods and the other countries.
Annual Export Performance Report (AEPR)
In compliance with the Republic Act. No. 7042, foreign export companies operating in the Philippines are required to submit an Annual Export Performance Report (AEPR) to the Board of Investments (BOI) on or before the 30th of May of every year or within four (4) months from end of your fiscal year (January 01-December 31).
The AEPR is a yearly reportorial requirement that ensures continued compliance with export regulations by monitoring the ratio of export sales to total sales. The timeline for the filing of this report may take five (5) to seven (7) days or longer, depending on the rules and regulations of the government agencies.
Process of an Annual Export Performance Report (AEPR)
For foreign export enterprises, you must follow these procedures in processing an AEPR to the Board of Investments (BOI):
- Assistance from a Service Provider. Processing an AEPR could be complicated since the rules and regulations of government agencies in the Philippines may change from time to time. Requirements and fees may also change without prior notice, making it easier to process with an assistance from a service provider.
- Preparation. Create a checklist of requirements, document templates, and process flow. During this process, it is crucial to coordinate with your Accounting Team for the BIR filling of Audited Financial Statement (AFS) and Income Tax Return (ITR). Also gather and draft the required documents.
- Submission of Requirements. Submit and file the AEPR along with the requirements with the Board of Investments (BOI). Ensure that necessary documents are signed, notarized, and apostilled for its authenticity.
- Approval. Once approved, an AEPR acknowledgement receipt or email and duly received or stamped copy of the documents will be sent to you.
Penalties If Failed to Comply
If you failed to file an Annual Export Performance Report (AEPR), the Board of Investments (BOI) should advise the Securities and Exchange Commission (SEC) or Bureau of Trade Regulation and Consumer Protection (BTRCP) who should then require immediate action.
If failed to submit the required AEPR within twelve (12) months after the taxable year, cancellation of the Certificate of Registration will be issued. Further failure to comply without any justifiable reason resulting in the imposition of penalties.
For Late Submission of the Annual Export Performance Report (AEPR):
Violation | Penalty |
1st Violation | Written warning |
2nd Violation | Basic fine of Php 1,000.00 and a daily fine of Php 50.00 |
3rd Violation | Basic fine of Php 2,000.00 and a daily fine of Php 100.00 |
Subsequent Violations | Basic fine of Php 5,000.00 |
For Submission of Fraudulent Annual Export Performance Report (AEPR) or Failure to Comply:
Violation | Penalty | |
Partnership/Corporation | Sole Proprietorship | |
1st Violation | Php 100,000.00 | Php 50,000.00 |
2nd Violation | Php 150,000.00 | Php 70,000.00 |
3rd Violation | Fine in an amount not exceeding ½ of 1% of the total paid-in capital but not more than Php 5 million | Php 100,000.00 |
Subsequent Violations | Cancellation of registration granted under the Act | |
Total External Trade and Balance of Trade
The Philippines is one of the fastest developing Southeast Asian countries. In March 2025, the country’s total external trade in goods reached the amount of US $17.31 billion. The 61.9% were imported goods, while the remaining 38.1% were exported goods. This indicates an annual growth rate of 9.6% from the US $15.80 billion total external trade in the same period last year.
Table A. Summary of External Trade Performance in the Philippines
Indicator | March 2024 | March 2025 | ||
FOB Value (in billion USD) | Year-on-Year Growth | FOB Value (in billion USD) | Year-on-Year Growth | |
Total Trade | 15,804.48 | -13.4% | 17,314.42 | 9.6% |
Balance of Trade | -3,353.97 | -33.2% | -4,127.50 | 23.1% |
Exports | 6,225.25 | -5.9% | 6,593.46 | 5.9% |
Imports | 9,579.22 | -17.6% | 10,720.96 | 11.9% |
In March 2025, the balance of trade in goods (BoT-G) amounted to US -$4.13 billion, indicating a trade deficit with an annual increase of 23.1%. While in March 2024, the trade deficit registered an annual decrease to 33.2%.
Export Value of Commodity Groups
In March 2025, the Philippines’ total export sales increased to US $6.59 billion from the US $6.23 billion total export sales from the same month last year. This increase was followed by coconut oil with an annual increase of US $105.93 million, and other mineral products with an annual increase of US $54.21 million.
The electronic products continued to be the country’s top exports in March 2025 with total earnings of US $3.64 billion. While manufactured goods have an export value of US $434.41 million and a total of US $246.56 million for other material products.
Table B. Export Value of Commodity Groups
Commodity Groups | March 2024 | March 2025 |
Electronic Products | US $3,605.32 billion | US $3,639.55 billion |
Manufactured Goods | US $311.39 million | US $434.41 million |
Mineral Products | US $192.35 million | US $246.56 million |
Coconut Oil | US $134.84 million | US $240.77 million |
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircraft and Ships | US $189.69 million | US $226.22 million |
Export Value by Major Type of Goods
The manufactured goods had the largest total of exports in March 2025, with an amount of US $5.32 billion. Followed by total agro-based products worth US $586.86 million, and mineral products at US $492.44 million.
Table C. Export Value by Major Type of Goods
Major Type of Goods | March 2024 | March 2025 |
Manufactured Goods | US $5,058.39 billion | US $5,319.92 billion |
Total Agro-Based Products | US $461.31 million | US $586.86 million |
Mineral Products | US $568.74 million | US $492.44 million |
Special Transactions | US $120.17 million | US $150.74 million |
Petroleum Products | US $0.61 million | US $25.14 million |
Forest Products | US $16.03 million | US $18.35 million |
Export Value of Other Countries
By major trading partner, the United States of America (USA) contributed the highest total export value with an amount of US $1.11 billion in March 2025. This was followed by Hong Kong with US $1.01 billion, Japan with US $960.50 million, People’s Republic of China with US $762.78 million, and Singapore with US $273.74 million total export value.
In the economic bloc, the majority of the Philippines’ merchandise exports went to Asia-Pacific Economic Cooperation (APEC) countries with a share of US $5.48 billion. Followed by East Asia at US $3.26 billion, and Regional Comprehensive Economic Partnership (RCEP) valued at US $2.94 billion.
By geographic region, East Asia has the highest export value of US $3.26 billion. Northern America has an export value of US $1.18 billion, and Southeast Asia with US $911.20 million.
Import Value of Commodity Groups
In March 2025, the electronic product had the highest import value with an amount of US $2.52 billion. Followed by mineral fuels, lubricants, and related materials at US $1.31 billion, and transport equipment worth US $1.06 billion.
Table D. Import Value of Commodity Groups
Commodity Groups | March 2024 | March 2025 |
Electronic Products | US $2,016.59 billion | US $2,517.12 billion |
Mineral Fuels, Lubricants and Related Materials | US $1,698.39 billion | US $1,306.26 billion |
Transport Equipment | US $944.62 million | US $1,058.48 billion |
Industrial Machinery and Equipment | US $417.66 million | US $554.87 million |
Other Food and Live Animals | US $374.61 million | US $481.05 million |
Import Value by Major Type of Goods
The raw materials and intermediate goods has the largest share of total imports in March 2025, amounting to US $3.92 billion. Followed by capital goods of US $3.16 billion, and consumer goods with an import value of US $2.30 billion.
Table E. Export Value by Major Type of Goods
Major Type of Goods | March 2024 | March 2025 |
Raw Materials and Intermediate Goods | US $3,199.76 billion | US $3,916.54 billion |
Capital Goods | US $2,816.81 billion | US $3,160.39 billion |
Consumer Goods | US $1,826.32 billion | US $2,296.87 billion |
Mineral Fuels, Lubricants and Related Materials | US $1,698.39 billion | US $1,306.26 billion |
Special Transaction | US $37.95 million | US $40.89 million |
Import Value of Other Countries
In March 2025, the People’s Republic of China was the country’s largest supplier of imported goods valued at US $3.10 billion. Followed by Indonesia with US $888.27 million, Japan with US $834.38 million, Republic of Korea with US $728.94 million, and Thailand with US $627.65 million total of import value.
By economic bloc, the Asia-Pacific Economic Cooperation (APEC) countries were the largest supplier of the country’s imported goods with a share of US $9.17 billion. This was followed by Regional Comprehensive Economic Partnership (RCEP) with US $7.98 billion, and East Asia with US $5.19 billion.
By geographic region, East Asia had the highest import value of US $5.19 billion in March 2025. Followed by Southeast Asia with an import value of US $2.98 billion, and Northern America with US $646.90 million.
Need further information and assistance regarding the Annual Export Performance Report (AEPR)? Talk to our team at Duran & Duran-Schulze Law in Bonifacio Global City, Taguig, Philippines to know more about the requirements and process. Call us today at (+632) 8478 5826 or +63 917 194 0482, or send an email to info@duranschulze.com for more information.
