Customs misses May collection target as import slowdown weighs on revenues

₱80.664 billion collected in May falls 2.1% short, but first five months remain ahead of plan by over ₱9 billion.

The Bureau of Customs reported May collections of ₱80.664 billion, falling 2.1% short of its monthly target as weaker import volumes in oil and non-oil commodities weighed on inflows, alongside the temporary suspension of excise taxes on selected petroleum products under Executive Order No. 114, s. 2026.

Despite the monthly shortfall, revenues were still higher by ₱5.007 billion or 6.62% compared with May 2025’s ₱75.657 billion, pointing to continued year-on-year expansion even as import activity softened.

From January to May, total collections reached ₱406.365 billion, exceeding the ₱397.041 billion target by 2.3% and growing 6.5% year on year. Despite weaker import volumes and policy-related pressure in certain months, total collections for the first five months still exceeded the government’s revenue target by over ₱9 billion, driven by improved valuation practices and stronger collection measures that helped offset softer trade flows.

The difference between monthly performance and year-to-date results underscores how uneven import activity has been across the period, with revenue intake still holding firm even as global commodity prices, policy adjustments, and trade volumes influenced shipment values. Customs officials said improved valuation and tighter collection processes continue to support revenue performance, particularly in periods when import-driven inflows ease.

BOC said these revenues continue to support government funding needs tied to public services and programs that rely heavily on trade-linked income.

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