Who is the Philippines largest trading partner?
- United States: US$11.9 billion (15.9% of total Filipino exports)
- Mainland China: $11.5 billion (15.5%)
- Japan: $10.7 billion (14.4%)
- Hong Kong: $9.9 billion (13.3%)
- Singapore: $4.2 billion (5.6%)
- Thailand: $3.5 billion (4.6%)
- Germany: $2.9 billion (3.9%)
- South Korea: $2.6 billion (3.4%)
Philippines trade balance, exports and imports by country
In 2019, Philippines major trading partner countries for exports were United States, Japan, China, Hong Kong, China and Singapore and for imports they were China, Japan, Korea, Rep., United States and Indonesia.
The US surpassed China to become India's top trading partner in 2021-22, reflecting strengthening economic ties between the two countries.
The EU is the Philippines' fourth largest trading partner, accounting for the 7.9% of the country's total trade in 2021 (after China, Japan and the US).
- Electrical machinery, equipment: US$38.1 billion (51% of total exports)
- Machinery including computers: $9.5 billion (12.7%)
- Copper: $2.6 billion (3.5%)
- Optical, technical, medical apparatus: $2.2 billion (3%)
- Ores, slag, ash: $2 billion (2.7%)
- Fruits, nuts: $1.9 billion (2.6%)
PJEPA is the Philippines' only bilateral free trade agreement, covering, among others, trade in goods, trade in services, investments, movement of natural persons, intellectual property, customs procedures, improvement of the business environment, and government procurement.
A trading partner is an organization that conducts e-business with other organizations. Sterling B2B Integrator must have certain information about trading partners to automate the secure exchange of business documents with them.
The Philippines (Filipino: Pilipinas, officially known as the Republic of the Philippines (Republika ng Pilipinas; PH), is an archipelagic country located in Southeast Asia with Manila as its capital city.
The People's Republic of China was the country's biggest supplier of imported goods valued at USD 2.07 billion or 19.3 percent of the total imports in January 2022.
| Rank | Country | Total Trade |
|---|---|---|
| --- | Total, All Countries | 303.6 |
| --- | Total, Top 15 Countries | 226.5 |
| 1 | China | 51.4 |
| 2 | Canada | 44.9 |
What is the role of the Philippines in international trade?
The Philippines is a member of the ASEAN and a signatory to the ASEAN Trade in Goods Agreement (previously referred to as the ASEAN Free Trade Area Common Effective Preferential Tariff Scheme), along with the other ASEAN member states. The ASEAN aims to eliminate all import duties among member states.
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines's main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).
The data also shows that the bilateral trade volume between India and China in the 2021-2022 fiscal year is about USD 115.42 billion, an increase of about 1/3 from the USD 86.4 billion in the previous fiscal year.
According to Philippines trade data, Philippines' top 10 imports in 2020 were Electrical Machinery & Equipment (28.5%), Machinery (10.1%), Mineral Fuels & Oils (8.8%), Vehicles (5.6%), Iron & Steel (3.6%), Plastics (3.4%), Cereals (2.9%), Optical, Photographic, Medical Equipment (2.1%), Articles of Iron & Steel (1.9%) ...
The Philippines has commanded a crucial place on international trade routes since the 17th century, and the native population's continuous migration has created the internationally minded and open society that can be seen in the country today.
The economy of the Philippines is the world's 32nd largest economy by nominal GDP according to the International Monetary Fund 2021 and the 12th largest economy in Asia, and the 3rd largest economy in the ASEAN after Indonesia and Thailand.
The top import categories (2-digit HS) in 2020 were: electrical machinery ($4.4 billion), machinery ($2.8 billion), optical and medical instruments ($367 million), leather products ($359 million), and animal or vegetable fats and oils (coconut oil) ($348 million).
Agriculture, which is made up of four sub-sectors (crops, livestock, poultry and fisheries), is the main source of livelihood for 25-30 percent of the labour force. It contributes about 10 percent to the gross national product.
The People's Republic of China was the country's biggest supplier of imported goods valued at USD 2.07 billion or 19.3 percent of the total imports in January 2022.
What are the Philippines main imports?
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines's main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).
Leading services exports from the U.S. to Philippines were in the professional and management services, intellectual property (franchises and trademarks), and financial services sectors. Philippines was the United States' 30th largest supplier of goods imports in 2020.
According to Philippines trade data, Philippines' top 10 imports in 2020 were Electrical Machinery & Equipment (28.5%), Machinery (10.1%), Mineral Fuels & Oils (8.8%), Vehicles (5.6%), Iron & Steel (3.6%), Plastics (3.4%), Cereals (2.9%), Optical, Photographic, Medical Equipment (2.1%), Articles of Iron & Steel (1.9%) ...
