Philippines: major import partners by FOB value 2022 | Statista (2024)

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Philippines: major import partners by FOB value 2022 | Statista? ›

Leading import partners Philippines 2022, by FOB value

The United States was the leading trade partner of the Philippines for its export products in 2022, with a total value of 12.47 billion U.S. dollars. Japan followed with approximately 11.13 billion U.S. dollars worth of exports.

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.

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).

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.

Philippines trade balance, exports and imports by country

In 2021, Philippines major trading partner countries for exports were United States, China, Japan, Hong Kong, China and Singapore and for imports they were China, Japan, Korea, Rep., Indonesia and United States.

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.

Key imports from the Philippines are semiconductor devices and computer peripherals, automobile parts, electric machinery, textiles and garments, wheat and animal feeds, coconut oil, and information technology/business process outsourcing services.

The Philippines Customs system is based on the Standard International Trade Classification (SITC) of the United Nations. Equivalent to 12% of the total landed cost (production, shipment, delivery) of goods. Applied to every type of good.

Who are their largest import partners? ›

The top five suppliers of U.S. goods imports in 2022 were: China ($536.3 billion), Mexico ($454.8 billion), Canada ($436.6 billion), Japan ($148.1 billion), and Germany ($146.6 billion).

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. President Ferdinand R.

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.

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

India's top import products contain Mineral fuels including oil, Gems, precious metals, Electrical machinery, equipment, Machinery including computers and organic chemicals.

Highlights of the 2022 Annual International Merchandise Trade Statistics of the Philippines. Of the total external trade in 2022, 63.5 percent were imported goods, while the rest were exported goods. The total export value for Personal Protective Equipment (PPE) and medical supplies in 2022 dropped to USD 10.36 million ...

GT: China has been the Philippines' largest trading partner for seven consecutive years. In 2022, the bilateral trade volume between China and the Philippines reached $87.725 billion.

China remains the Philippines' largest trading partner, largest source of imports, largest export destination and third largest source of foreign investment under agreements, which has effectively promoted the post-pandemic economic recovery and prosperity of the two countries.

Trade in Goods and Services

ASEAN itself is the largest market for exports of goods from the trade bloc, accounting for 22.9% of total ASEAN exports in 2022, followed by mainland China (14.8%), the US (14.8%), the EU‑27 (9.0%) and Japan (6.8%).