MANILA, Philippines — The unit value index (UVI) of both exported and imported goods posted a slight annual increase of 0.1 percent in the first quarter of 2025, according to the Philippine Statistics Authority (PSA), reversing the declines seen in the previous quarter.

Exports: Art and antiques lead recovery

For exports, the PSA reported that the UVI rose by 0.1 percent in Q1 2025, a turnaround from the 1.1 percent decreasein Q4 2024. A year ago, export prices had increased by 4.0 percent.

The main driver of the increase was the section on works of art, collectors’ pieces, and antiques, which posted a 3.0 percent annual growth, contributing 45.6 percent to the total export UVI rise. This marked a recovery from a 1.2 percent decline in the previous quarter.

Other contributors to the uptrend included:

• Mineral products: up by 6.0 percent (from -3.1% in Q4 2024)
• Base metals and articles of base metal: annual decline slowed to 0.5 percent (from -2.9% in Q4)

Out of the 21 export product sections monitored, eight posted annual increases, while 10 registered declines in Q1 2025.

The top three contributors to the overall export UVI growth were:

1. Works of art, collectors’ pieces and antiques (3.0%)
2. Mineral products (6.0%)
3. Animal or vegetable fats and oils, and waxes (7.6%)

Imports: Mineral products lift UVI

For imports, the UVI also posted a 0.1 percent annual growth in Q1 2025, rebounding from a 1.0 percent decline in the previous quarter. Import prices rose by 2.6 percent in Q1 2024.

The biggest boost came from mineral products, which saw a 0.6 percent increase, recovering from a 4.1 percent drop in Q4 2024. This category accounted for 49.3 percent of the total import UVI growth.

Other contributors included:

• Works of art, collectors’ pieces and antiques: up by 1.4 percent (from -2.4% in Q4)
• Chemical and allied industry products: up by 1.3 percent (from -0.03%)

Out of the 21 import product categories, seven saw annual increases, while 11 posted decreases.

The top three contributors to import UVI growth were:

1. Works of art, collectors’ pieces and antiques (1.4%)
2. Mineral products (0.6%)
3. Machinery and electrical equipment (0.4%)