Philippines Imports (2024)

FAQs

What is Philippines main imports? ›

According to Philippines import statistics, Philippines major import commodities are electronics, machinery, mineral fuels & oils, vehicles and iron & steel. Philippines import data also shows China, Japan, United States and South Korea are the largest import partners of Philippines.

Philippines, Imports of goods and services as percentage of GDP is 37.73 %. Philippines, Exports of goods and services as percentage of GDP is 25.75 %.

The Philippines has long been facing challenges on food security despite having vast agricultural land ready for cultivation. To ensure food sufficiency, the country has depended on imports, such that our import dependency ratio in 2021 was at 25.1 percent, according to data from the Philippine Statistics Authority.

Why do imports usually exceed exports? It's either because your country NEEDS to import goods which aren't easy to produce in your country or has a high demand among your population of a particular foreign commodity. Also, it can mean that there is less demand for your domestic products in foreign markets.

The country imports these goods to meet local demand and also for use in its manufacturing industries. The major trading partners for the Philippines' imports are China, Japan, and the United States.

People's Republic of China had the highest import value

People's Republic of China was the country's largest supplier of imported goods valued at USD 2.18 billion or 22.8 percent of the country's total imports in February 2024.

Imports The top imports of Philippines are Integrated Circuits ($15.7B), Refined Petroleum ($13.9B), Coal Briquettes ($5.18B), Cars ($4.3B), and Crude Petroleum ($3.32B), importing mostly from China ($53.6B), Indonesia ($13.6B), South Korea ($12.5B), Japan ($11.4B), and Singapore ($9.28B).

Exports in Philippines account for nearly a third of GDP. Major exports are: electronic products (42 percent), other manufactures (10 percent) and woodcrafts and furniture (6 percent). Philippines is also the world's largest producer of coconut, pineapple and abaca.

Merchandise imports to the Philippines was valued at 144.5 billion U.S. dollars in 2022, reflecting an increase from the previous year. The import value in 2022 was about twice as much as the total merchandise exports from the Philippines.

The Philippines is a net energy importer despite low consumption levels relative to its Southeast Asian neighbors. The country produces oil, natural gas, and coal.

Why Philippine import rice? ›

The Philippines is not self-sufficient in rice production, meaning it consumes more than it produces and therefore often depends on imported rice to make up the difference.

Are you looking to import food products to the Philippines? The Philippines' total food imports were valued at USD 4.84 billion in 2022, which accounts for 13.5 percent of the country's total imports.

Imports The top imports of United States are Crude Petroleum ($199B), Cars ($159B), Broadcasting Equipment ($116B), Computers ($108B), and Packaged Medicaments ($91.3B), importing mostly from China ($551B), Canada ($438B), Mexico ($421B), Germany ($153B), and Japan ($137B).

The country's primary exports include semiconductors and electronic products, transport equipments, garments, chemical products, copper, nickel, abaca, coconut oil, and fruits.

The Philippines' total food imports were valued at USD 4.84 billion in 2022, which accounts for 13.5 percent of the country's total imports. To import food products into the Philippines you have to get approval from two regulatory agencies: Food and Drug Administration (FDA).